04:59 PM EDT, 05/23/2024 (MT Newswires) -- Stifel Financial ( SF ) late Thursday reported a 3% decline in total client assets under management to around $454 billion on April 30 from $467.7 billion at the end of March.

Total client assets were up 12% year over year, the company said.

The decline in client assets during April reflects a drop in the equity markets last month, Stiefel CEO Ronald J. Kruszewski said.

Fee-based assets and private client group assets both fell about 3% month over month. Bank loans, including loans held for sale, was the only asset class to increase in April, about 2%, to $19.96 billion.

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