1. Compromised bank account scam
You receive a call or email from someone claiming to be from a financial institution saying that your financial accounts are at risk of fraud. They instruct you to move your funds to a new account they provide to you, coach you on how to answer questions from your financial institution and instruct you not to tell anyone.
2. Payment scams
Before paying a contractor for work at your home, investing in a company or purchasing a new property, a fraudster intercepts the email communication and replaces legitimate payment instructions with fraudulent ones. Red flags include last-minute changes to instructions, a change in the tone or word choice from prior emails, a new sender address and multiple payment requests. With this scam, the email account belonging to you, the service provider or both has been compromised.
3. Computer scam
Someone calls pretending to be from a major tech company and says that your computer has a virus. They offer to get rid of it by asking you to log into a website that lets the caller control your computer. The caller can then steal your ID information and can gain access to your accounts.
4. Grandchild/child scam
Your grandchild or child calls and frantically requests money to pay a kidnapper, a legal bill, or an emergency medical expense – and begs you not to tell anyone. But it’s not real: Fraudsters commonly pose as loved ones and, preying on your compassion, claim to need money urgently. Recent technology can even allow them to successfully imitate your loved one’s voice.
5. Lottery scam
You get an unsolicited phone call or email saying you’ve won a large prize. All you need to do is send money to pay for shipping, taxes or some other fee before the prize can be released to you. You send the money, but the fictional prize never arrives.
6. Timeshare scam
If you own a timeshare, you may get a call from someone claiming they’re authorised to sell it for you, for a fee. After paying, however, you never hear from them again.
7. Discount products/services scam
You get an unsolicited call or knock at the door offering a product or service for a discounted price (e.g., heart monitor, wheelchair, bathtub bench, home maintenance, tree trimming). You’re asked for a deposit or prepayment and the product never arrives or the work is never completed.
8. Missed payment scam
You receive a call or email from your energy company threatening to turn off services unless payment is made immediately.
9. Caregiver and sweetheart scam
These predators claim to care deeply for you or your well-being. After spending weeks and months winning your trust, they may gain access to your accounts to steal money or your identity information. They may also ask you to accept money on their behalf followed by a request to send those funds to another location.
All the scams mentioned above are common and widespread. Keep these additional tips in mind to protect your identity and your accounts:
If you suspect you’ve fallen victim to a scam or that your identity has been compromised, it’s time to act. Report the incident to your wealth manager, bank, credit card company or any other relevant parties right away to help protect your accounts, and consult Action Fraud for support and to see their recommendations for critical next steps.
Bear market of 1974The severe bear market of 1974 threatened the existence of Raymond James, which was bleeding capital by the day. Tom James, his father and other leaders took extreme measures to keep the firm afloat, slashing costs, forgoing pay checks and even attempting to sell the firm for just enough capital to protect client assets and retain as many associates as possible. The story could have ended very differently if not for a sharp upturn and continued rebound in the stock markets late in the year. |
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Black MondayOn 19 October 1987, the stock markets experienced a dramatic plunge that prompted many firms to shut down their trading desks and turn off their phones to minimize internal losses. Raymond James refused to do the same. Our desks stayed open to help meet clients’ needs, resulting in our first and only unprofitable quarter since the firm went public in 1983. |
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Who was Raymond James?The Raymond in our name is actually from Edward Raymond, owner of a 15-employee mutual fund sales group, Raymond and Associates, along Florida’s west coast. He sold his company to Bob James on 15 July 1964, on condition that the surviving firm be called Raymond, James & Associates. Three days after the sale, Ed Raymond was involved in a near-fatal automobile accident and never joined the firm. Nonetheless, even after Raymond had passed away, Bob James insisted that his name remain on the door – ahead of James’ own. That was a promise he made to Ed Raymond three days before the accident, and Bob James was a man who kept his promises. |
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Taking Raymond James PublicWhen consideration was being given to taking Raymond James public, Tom James penned a letter to shareholders (largely employees at the time). ” … the public offering should be considered as a statement of our independence. While this is a psychological rather than an economic rationale, it is nonetheless very important. We have asserted for some time that we are not interested in becoming a small part of a very large corporation. That assertion results mainly from the inclinations of management rather than the economic benefits associated with either alternative. The public stock offering affords us the opportunity to enjoy a little bit of the best of both worlds. While shareholders will be given liquidity at fair market value, we will still have the ability to control our own destiny.” After 40+ years of Tom’s leadership, upon becoming CEO, Paul Reilly was often questioned about whether the company might ultimately surrender its cherished independence and be acquired by some larger entity. His response: “Not while I’m around.” It’s a theme that continues today. |
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