Gary Fawcett
Raymond James, Monument
Gary Fawcett is a Branch Principal at Raymond James, Monument. As a Chartered Wealth Manager, Gary has 23 years’ experience in looking after clients and their investments. His interest in finance began at secondary school and was cemented at university, where he studied Business Studies. Gary has given guest lectures for Newcastle Business School at Northumbria University and has been a regular commentator on local and national media since 2007.
I chose Raymond James because the culture and ethos of the business reflected my own, so I felt we would be a good fit. I was looking for an organisation that offered four things: a supportive approach, confidence for clients that their money was safe, the right infrastructure to enable us to do our job properly, and local decision-making capability on pricing, investment strategy and client service. My experience suggested that having a big name behind you is important to a lot of clients for stability purposes, but the local touch is just as important when it comes to looking after them and their families.
I’m delighted with the support we have been given from day one. Helping us locate an office and then fitting it out to reflect RJIS and our branch’s brand and identity has been phenomenal. The welcome we received was warm, friendly and made us feel part of the family right from the start. The service from HQ has been very good – they are genuinely there to support us. I have been really impressed by the turnaround times when setting up accounts, dealing with transfers and payments, and keeping us updated with progress on client matters. The team is very responsive to our queries and have been incredibly patient with us! The use of DocuSign has been revolutionary for us in terms of increased efficiency. The onboarding process is very slick and clients cannot believe the speed at which we can open accounts and invest or initiate transfers. What’s more, we have access to more research than ever before, as well as portfolio monitoring tools, which is very welcome when managing money!
Any launch has its teething problems, but I am delighted with progress so far and what we have already achieved with the support of RJIS. The backing we have had has been humbling and has confirmed the decision to open our branch with RJIS was absolutely the right decision. It really is a breath of fresh air and even clients have noticed how much happier we are due to the flexibility we have locally and ultimately do what we feel is right for clients.
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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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, foregoing paychecks 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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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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