3 Brokerage Stocks Earning More From Higher Interest Rates

Higher Treasury yields, renewed talk of Fed rate hikes, softer oil and a weaker dollar are reshuffling where money earns its keep. Cash parked on brokerage and custody platforms is no longer just idle change; it can be a revenue engine or a drag, depending on how each business is set up. This article breaks down three cash rich brokerage and custody stocks exposed to these rate moves, and how their models line up with the current macro mix.

The three stocks covered below are just a sample set, and the full screen surfaced 25 more cash rich brokerage and custody platforms with equally compelling interest rate stories that are not covered here. To identify and analyze the highest conviction ideas tied to client cash yields, head straight into the Cash-Rich Brokerage and Custody Platforms Benefiting from Higher Interest Rates screener.

StoneX Group (SNEX)

Overview: StoneX Group runs a global brokerage, clearing, risk management, and payments network where client trading, hedging, and collateral flows react directly to higher short term rates.

Operations: Most revenue comes from the Commercial segment at about $153.6b, with smaller contributions from Institutional at $1.7b and Self Directed/Retail at $369.9m.

Market Cap: US$8.1b

StoneX Group matters in this screener because its futures, clearing, and collateral flows link institutional client cash balances to rising short term yields in a very direct way, especially when market volatility and rate expectations push more activity through its pipes.

"The R.J. O’Brien acquisition, completed in July 2025, made StoneX the largest non-bank futures commission merchant in the United States and strengthened its listed derivatives, clearing, and commodity brokerage franchise. The acquisition has the potential to lift derivatives scale, client balances, cross-selling, and operating leverage, depending on how StoneX manages integration and execution."

What happens if a single unseen pressure on those larger client balances subtly changes the pricing power that underpins StoneX Group’s margins?

If that pressure on cash yields has your attention, read the full narrative for StoneX Group to see how StoneX Group’s scale and client mix could be quietly reshaping earnings power.

Piper Sandler Companies (PIPR)

Overview: Piper Sandler Companies is an investment bank that advises clients, underwrites deals, and runs brokerage businesses where client cash balances matter.

Operations: Piper Sandler generates about US$2.1b in brokerage related revenue, primarily from clients in the United States. This ties activity closely to domestic markets.

Market Cap: US$4.9b

Piper Sandler Companies sits in this higher rate screen because its advisory and brokerage engine is wrapped around client portfolios that hold cash, short term securities, and sweep balances. These can generate interest income when yields climb.

"Piper Sandler Companies is a US investment bank that provides advisory, capital markets, public finance and brokerage services across multiple sectors. Rising consolidation among US banks and related balance sheet restructurings are creating more complex M&A and fixed income assignments."

The real swing factor is how one shift in client activity around those cash rich balance sheets changes pricing power across its fee pool.

That swing factor is exactly what the full narrative for Piper Sandler Companies unpacks, showing where pricing power could be quietly accelerating or stalling beneath Piper Sandler Companies’ headline deals.

Stifel Financial (SF)

Overview: Stifel Financial runs a large wealth and brokerage platform where client cash sweeps and deposits link directly into higher short term yields.

Operations: Stifel Financial generates about US$3.7b from Global Wealth Management and US$2.1b from the Institutional Group, with most revenue sourced in the United States.

Market Cap: US$10.6b

Stifel Financial matters in this higher rate screen because its adviser led wealth platform turns client cash, sweeps, and short term investments into interest income and fee potential when short term yields reset higher.

"Planned loan growth of up to US$4b in 2026, largely funded by rising wealth and treasury deposits and supported by strong regulatory capital ratios, can lift net interest income and support earnings if Stifel Financial maintains disciplined credit standards and pricing."

The real test is what happens if a single shift in how those advisers grow and retain cash rich client relationships changes long run margins.

If that margin question is on your mind, read the full narrative for Stifel Financial to see whether adviser led cash growth is quietly accelerating or masking deeper risks.

Seeking Alternatives Before Others Catch On

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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