Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 421

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 421
---
    Other operating expenses

    177,838

    141,652

    116,360

    25.5

    21.7

    5.4

    4.7

    4.1

    Total non-interest expenses

    2,076,018

    1,834,140

    1,758,295

    13.2

    4.3

    63.2

    60.1

    62.2

    Income before income taxes
     
    $
    1,207,942

    $
    1,215,822

    $
    1,067,571

    (0.6
    )%

    13.9
    %

    36.8
    %

    39.9
    %

    37.8
    %

    December 31,

    2024

    2023

    2022

    Branch offices

    389

    398

    398

    Financial advisors

    2,229

    2,278

    2,242

    Independent contractors

    113

    108

    102

    Total financial advisors

    2,342

    2,386

    2,344

39

Year Ended December 31, 2024, Compared With Year Ended December 31, 2023

NET REVENUES

For the year ended December 31, 2024, Global Wealth Management net revenues increased 7.7% to a record $3.3 billion from $3.0 billion in 2023. The increase in net revenues is primarily attributable to increases in asset management revenues and transactional revenues, partially offset by lower net interest income.

Commissions – For the year ended December 31, 2024, commission revenues increased 14.3% to $508.7 million from $444.9 million in 2023. The increase is primarily attributable to a increase in equities trading and mutual funds revenue.

Principal transactions – For the year ended December 31, 2024, principal transactions revenues increased 16.4% to $243.6 million from $209.3 million in 2023.

Transactional revenues – For the year ended December 31, 2024, transactional revenues increased 15.0% to $752