Raymond James Financial (RJF) stock declined 8.75% on Tuesday, February 10, 2026, closing at $158.48. The decline occurred amid a broader selloff in wealth management stocks triggered by fears of artificial intelligence disruption in the financial advisory industry. The decline was sparked by the unveiling of a new AI-enabled tax planning tool by Altruist, which investors worry could automate financial advice and compress fees in the traditional wealth management business model. Other wealth management firms including Charles Schwab and LPL Financial experienced similar declines on the same day. The S&P 500 Financials Sector declined 1% overall, with RJF among the worst individual performers. The stock's decline ended a two-day winning streak.
Read full analysisRaymond James Financial (RJF) stock declined 8.75% on Tuesday, February 10, 2026, closing at $158.48. The decline occurred amid a broader selloff in wealth management stocks triggered by fears of artificial intelligence disruption in the financial advisory industry. The decline was sparked by the unveiling of a new AI-enabled tax planning tool by Altruist, which investors worry could automate financial advice and compress fees in the traditional wealth management business model. Other wealth management firms including Charles Schwab and LPL Financial experienced similar declines on the same day. The S&P 500 Financials Sector declined 1% overall, with RJF among the worst individual performers. The stock's decline ended a two-day winning streak.
Raymond James Financial Inc. (RJF) is a publicly traded company in the Financials sector.