Raymond James Financial's advisory operations reported strong year-over-year earnings growth for the first quarter of its fiscal year 2015, but profits slipped from the prior period.

The St. Petersburg, Fla.-based firm announced Wednesday that its Private Client Group profits soared 30% year-over-year, rising to $92.7 million from $71.5 million for the year-ago period. But profits fell from $100 million in the fourth quarter -- a 7% drop.

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