Raymond James breaks record

The recently concluded quarter was a momentous one for Raymond James Financial: It was the firm's best-ever for quarterly net revenues and it helped make 2010 a record-breaking year, with $2.9 billion in net revenues earned.

For the quarter, the company (symbol: RJF) earned $69 million in profits on $748 million in net revenue, representing over-the-year gains of 61% and 12%, respectively.

“This year's results are especially gratifying because they reflect our investment in people in anticipation of a recovery,” explained CEO Paul Reilly in a release. “We successfully recruited financial advisers, investment bankers, public finance professionals, institutional sales people and traders, while much of the financial services industry was in shock.”

Raymond James Financial is headquartered in St. Petersburg. Last month, a U.S. District Judge dismissed the majority of a class-action lawsuit against the firm.