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FORT MYERS, Fla. - Raymond James Financial Services (RJFS) has recruited financial advisors Leo Boisvert and Erik Heben from Commonwealth Financial Network, where they managed approximately $210 million in client assets, according to a company press release. The move comes as Raymond James Financial (NYSE:RJF) continues to demonstrate strong market performance, with the stock delivering an impressive 58.65% return over the past year and maintaining robust revenue growth of nearly 12%.
The duo has established Private Wealth Consultants in Fort Myers, Florida, bringing along Client Services Manager Paula Heben and Client Service Associate Dawn Mannina-Sanford. According to InvestingPro analysis, Raymond James Financial demonstrates excellent financial health with a "GREAT" overall score, making it an attractive platform for independent advisors. InvestingPro subscribers can access 8 additional key insights about RJF’s market position and growth potential.
Boisvert, who spent 18 years at Commonwealth and brings 32 years of industry experience, holds an MBA in financial management and behavioral economics from Nova Southeastern University, along with Certified Investment Management Analyst and Certified Divorce Financial Analyst designations.
"This transition is about coming home to the values of independence, integrity and client emphasis that first drew me to the profession," Boisvert said in the statement.
Heben, who joined Commonwealth in 2006, has more than 30 years of industry experience and holds a bachelor’s degree from Kent State University and the Certified Financial Planner designation.
The team specializes in providing financial planning and guidance to families, individuals, corporate executives, business owners, healthcare professionals and retirees.
Raymond James Financial Services is the independent advisor channel of Raymond James Financial, Inc. (NYSE:RJF), which has maintained dividend payments for 41 consecutive years, showcasing its commitment to shareholder value. According to the release, Raymond James Financial has approximately $1.64 trillion in total client assets as of June 30, 2025. With a market capitalization of $35.56 billion and current undervaluation according to InvestingPro’s Fair Value model, the company continues to demonstrate strong market presence and growth potential.
In other recent news, Raymond James reported its fiscal third-quarter 2025 earnings, revealing an adjusted earnings per share (EPS) of $2.18. This figure fell short of the consensus estimate of $2.37 and individual estimates from firms such as KBW and Citi, which projected $2.26 and $2.28, respectively. Despite this EPS miss, the company exceeded revenue expectations, posting $3.4 billion against a forecast of $3.37 billion. The earnings results were impacted by a one-time $58 million legal reserve, which affected EPS by approximately $0.21 to $0.29 per share.
In response to these earnings, KBW raised its price target for Raymond James to $170 from $167, maintaining a Market Perform rating. Similarly, Citi adjusted its price target to $170 from $165, while keeping a Neutral rating on the stock. Meanwhile, Citizens JMP analyst Devin Ryan reiterated a Market Outperform rating with a $180 price target. These adjustments reflect varying perspectives on the company’s financial outlook following the recent earnings report.
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