A new Raymond James branch called Manorbridge Investment Management is opening in Fitzrovia, London. The branch will be run Neil Jones, the branch principal, along with Ian Kavanagh and Victoria Macdonald.
The branch aims to put a strong focus on building personal relationships with clients and ensure investment strategies are aligned with clients’ needs. The branch will operate under three core tenets – active, bespoke and attentive, and will serve clients throughout the UK.
Ian, Neil and Victoria have a wealth of experience in the sector and have worked together as a team for almost ten years, previously at both Hargreave Hale and Brewin Dolphin.
On working with Raymond James, Neil said:
“We feel there is an increased desire by clients to be looked after as individuals, rather than be treated as one of thousands. We look forward to offering clients the best possible service and being truly bespoke from our new office in Fitzrovia.”
On setting up their own boutique business backed by Raymond James, Victoria added:
“There is certainly greater responsibility when running a boutique branch, but this also brings greater satisfaction. We will be able to be wholly focused on the client, rather than on achieving corporate goals, such as profit margin and asset growth.
We are looking to achieve the best of both worlds, by offering clients the peace of mind of having assets held within a large organisation such as Raymond James, whilst allowing us the ability to manage their assets independently of a rigid corporate structure.”
On working with Victoria and Neil, Ian said:
“I have worked with Victoria and Neil for a number of years and what makes working with them so easy is that we are aligned in our beliefs as to how clients should be looked after, this being as individuals and the client coming first. I know I speak for my colleagues when say I am really excited about this new venture and can’t wait to get started.”
Anthony Scott, Head of Business Development at Raymond James said:
“Neil, Ian and Victoria are all extremely experienced and knowledgeable wealth managers. We’re very excited that Manorbridge Investment Management have joined us and we look forward to helping them look after their clients over the coming years.”
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. |
 |
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. |
|
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. |
|
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. |
 |
