Stifel Financial Corporation (SF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

and welcome to the Stiefel Financial fourth quarter 2025 financial results conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Joel Jeffrey, head of investor relations. Please go ahead. Thank you, operator. Good morning and welcome to Stiefel Financial's fourth quarter and full year 2025 earnings call. On behalf of Stiefel Financial Corp, I will begin the call with the following information and disclaimers. This call is being recorded. During today's presentation, we will refer to our earnings release and financial supplement, copies of which are available at Stifel.com. Today's presentation may include forward-looking statements that are subject to risks and uncertainties that may cause the actual results to differ materially. Stifel Financial Corp. does not undertake to update the forward-looking statements in this discussion. Please refer to our notices regarding forward-looking statements and non-GAAP measures that appear in our earnings release. I will now turn the call over to our Chairman and Chief Executive Officer, Ron Koszewski. Thanks, Joel, and good morning, everyone. 2025 was another record year for Stifel. Firm-wide revenue of $5.5 billion increased 11% and marked the first time we've surpassed $5 billion in revenue in our 135-year history. Record performance in global wealth management in our second highest year of institutional revenue drove these results. Given the volatility we experienced throughout the year, this performance highlights the breadth, quality, and resilience of our franchise. Stepping back, 2025 was a strong year for markets, but it was not without its challenges. Economic resilience, healthy balance sheets, and improving capital markets activity supported growth, even as v...