A new Raymond James branch led by Andy McNab and Nick Gartland has opened in Bramham, West Yorkshire. The branch will offer bespoke independent financial planning and investment management services to individuals, trusts, pension funds and charities.
The branch will be focused on clients in the Yorkshire and Northumberland area, but will also serve clients across the country.
Andy and Nick have both joined Raymond James from Investec Wealth and Investment Management. Andy began his career at Redmayne Bentley before joining Investec in 2000, while Nick began his career in 1987 at Alexander Stenhouse in Leeds, before moving to Sugden Rodgers, RSM Robson Rhodes and then Investec in 1999.
The branch is not actively hiring at present, but there may be opportunities for new roles in the future as the branch grows.
Commenting on the new branch, Andy said:
“Many investment models take a distanced approach without thinking about the client end experience. I take a different approach and I’m constantly reminded that my clients have trusted me with their savings, which is a huge privilege and even greater responsibility. That is why we tailor our approach for each and every client that comes through our door.
“I am confident that the proposition on offer from Raymond James and ourselves will be a compelling one for our clients. People are rational and need to know that their assets and data are secure, which is exactly what Raymond James offers.”
On working with Raymond James, Nick said:
“I have enjoyed working for a larger company, but over the last few years I found my time was increasingly spent managing people and attending committees rather than pure client work. I realised it was time for me to get back to doing what I love, namely speaking directly with my clients and providing them with the best possible service for their individual needs. Working with Raymond James gives me the time and regulatory support I need to do this.”
Cynthia Poole, Director of Relationship Management and Business Support at Raymond James said:
“Andy and Nick are two very experienced and knowledgeable individuals who we are delighted to have on board at Raymond James. Under their leadership, we are sure this new branch will go from strength to strength.”
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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