We’re committed to taking care of you and your wealth manager and believe that choice is crucial. What’s more, your investment strategies and portfolio should evolve along with your needs and your lifestyle.
By offering wealth managers access to a comprehensive selection of products and tools, in addition to robust compliance and supervision services where appropriate, we enable them to meet your individual investment needs. We offer access to a broad range of assets and tax wrappers and don’t require wealth managers to use any in-house products, so they can select the investments right for you.
Tax reporting – Annual consolidated tax vouchers (CTVs) reporting any income you have received during the tax year, and capital gains tax annual reports.
Client account protection – Financially sound primary custodian who holds your investments in accordance with the FCA’s Client Assets Sourcebook (CASS) rules.
Client Access – View your portfolio online including holdings and transaction information.
Investment reporting – Valuation reports and custody statements.
Cost and Charges – Annual statement of all costs and charges, including product costs, relevant to your portfolio research. Wealth managers have access to market commentary written by Raymond James’ global Investment Strategy Committee, and our European Strategist, some of which will also be available to clients. We also give wealth managers access to global equity and economic research written by external providers, leading fund research and fund selection tools – all designed to support wealth managers as they construct clients’ portfolios.
The middle and back-office services we provide are specifically designed to support wealth management professionals in offering sophisticated investment services to their clients. We deliver these services in an open-architecture environment so that wealth managers can select the products and solutions that meet their clients’ specific needs. Transparency in our rates and charges is key, so wealth managers and their clients are fully aware of what they are paying for and how Raymond James is being remunerated.
>> Find out more about the products, tools and technology available to our wealth managers
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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