Raymond James is today announcing the opening of a new independent branch based in Wanstead, East London. Led by branch principal Simon Howland, the new branch is amongst a number of new Raymond James branches to open in 2020, and will provide a discretionary managed portfolio service to clients based across the UK.
Simon has a wealth of experience developed over sixteen years in the industry, the last twelve of which at Killik & Co as an Associate Investment Director and member of their investment strategy board. His time in the industry and passion for the job have given him deep knowledge and unique perspective of an ever-changing investment landscape, putting him in a strong position to help his clients achieve their financial goals.
On joining Raymond James, Simon Howland said:
“It’s been my aim to establish and run my own business for as long as I can remember, so launching this new enterprise with the support of Raymond James is an exciting milestone for me. Raymond James provides the security and scale that allows for my business to start from a successful footing. It is as if I’ve started three or four steps ahead with a stable, successful and compliant infrastructure to plug into, giving me the freedom to focus on my targets of delivering top tier investment returns for clients.”
“The extraordinary events caused by COVID-19 have created one of the most exciting market environments, one to which we can’t look back on similar occurrences to give us a steer as 2020, and the reaction to which, has been truly unprecedented. Nevertheless, I believe it is large economic events like we are currently living through, that can throw up extraordinary investment opportunities, delivering outsized returns.”
“My investment style is cognisant to the macro backdrop, viewing it almost like a tidal effect on markets, yet my approach is simple by design, visible and liquid. The client always sits at the heart of the relationship, which means I work with clients on a much deeper level than just their liquid investable wealth. Not only given my experiences of working with clients of a similar profile, but experience first-hand, I offer assistance and support in broader matters of concern that are likely to have an effect on one’s whole family affairs. I see this level of service being more akin to a micro family office.”
Anthony Scott, Head of Business Development at Raymond James said:
“Simon Howland’s branch is another strong addition to the Raymond James family, which continues to thrive and grow despite the current economic backdrop.
Simon’s enthusiasm and experience will serve his clients well as he starts his new business during what has been, and continues to be, a very challenging year. I have no doubt his business will go from strength to strength and we look forward to supporting the branch over the coming years.”
If you would like to find out more information about how Raymond James supports wealth managers in opening and running their own independent wealth management branches, please click here.
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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