Raymond James Surges on Deal to Acquire Clark Capital
Shares of the financial services firm jumped over 3% after it announced the acquisition of Clark Capital Management Group, adding over $46 billion in assets.
Shares of Raymond James Financial (NYSE: RJF) surged more than 3% in morning trading after the company announced it has agreed to acquire Clark Capital Management Group, a boutique asset manager with a rapidly growing profile. The deal will add over $46 billion in assets to Raymond James's investment management division, significantly expanding its footprint in the advisor-focused asset management space.
The acquisition, announced early Tuesday, sent Raymond James shares up $5.08, or 3.04%, to $172.27. While the financial terms of the private transaction were not disclosed, the move is being viewed by investors as a significant strategic step to bolster the firm's wealth and asset management capabilities. The transaction is expected to close in the third quarter of 2026, pending regulatory approvals.
Clark Capital, based in Philadelphia, has built a strong reputation for its customized, multi-asset class solutions and proprietary model portfolios. The firm has been on a remarkable growth trajectory, with its assets under management swelling from just $3 billion in 2015 to over $46 billion today. This growth has not gone unnoticed; Clark Capital has been named Asset Manager of the Year by MMI/Barron's four times, most recently in 2024, a testament to its performance and advisor-centric model.
"The acquisition of Clark Capital is a continuation of our strategy of acquiring firms that are leaders in their respective spaces," said a spokesperson for Raymond James. "Clark Capital's impressive growth and its strong relationship with financial advisors make it a perfect fit for our platform." According to a press release from Raymond James, Clark Capital will operate as an independent boutique within Raymond James Investment Management, which operates under the Carillon Tower Advisers brand. This structure will allow Clark Capital to maintain its distinct investment philosophy and leadership team.
Analysts see the deal as a logical extension of Raymond James's growth-through-acquisition strategy. The firm has a long history of making strategic acquisitions to expand its various business lines. This latest move is seen as a direct effort to capture a larger share of the growing market for outsourced asset management solutions for financial advisors. While detailed analyst reports on the financial impact of the deal are still forthcoming, the initial consensus is positive, with an average one-year price target for RJF stock around $183.88, suggesting further upside. Broader analyst commentary on Raymond James often highlights its well-positioned growth through strategic buyouts and diversified revenues, which have helped the company navigate a volatile market environment.
The addition of Clark Capital is expected to be immediately accretive to Raymond James's earnings, though by how much remains to be seen. More importantly, the deal provides Raymond James with a high-growth engine within its asset management division and deepens its relationships with the independent advisor community. For a firm with a market capitalization of over $33 billion and a strong track record of successful integrations, the acquisition of Clark Capital appears to be a well-calculated move to solidify its competitive position in the years to come.