Chartered Financial Planners Tony Moss and Robert Goldschmidt have re-kindled their partnership by becoming founders of the brand-new Raymond James, Barbican.
The duo have worked together for over twenty five years and founded the highly reputable firm Cumberland Place Financial Management which was acquired by 1825, the financial planning arm of Standard Life Aberdeen, in 2018.
The pair will be combining financial planning and investment management expertise to build a client focused business. The plan is to establish a new branch to engage with clients who are successful in their own right but recognise the value of working with a firm of experienced financial advisers and discretionary investment managers striving for excellence.
Citywire columnist Simon Evan-Cook will be providing expertise to Moss and Goldschmidt as part of their Investment Committee, calling on his raft of experience in running multi asset funds to help them construct client portfolios and fine-tune their investment proposition.
David Jane will also be a founding member of the Raymond James Barbican Investment Committee. David is the ex-head of equities at M&G and has been the multi-asset manager at Premier Miton since 2014. He was also previously a valued member of the Cumberland Place Investment Committee where he worked with Tony and Robert.
Joanna Danes, former investment manager at Charles Stanley and Barclays Wealth, is joining the team from the outset. Joanna has over 20 years’ experience working with private clients and Court of Protection investment, which will be an area of expertise for Raymond James, Barbican.
In the current interest rate environment with extremely low yields on fixed income assets the branch will focus on a flexible approach to portfolio construction and the team is prepared to invest in a variety of different asset classes to help diversify, protect, and grow client assets. This includes thematic funds to gain exposure to long-term structural growth trends such as food consumption, technology, and the shift to more sustainable economies.
Raymond James, Barbican will focus on transparency and providing clear communication to clients about their investment portfolios and the global economy in general.
Tony Moss says, “Robert and I have worked together for many years and over that time we have learnt to surround ourselves with talent and expertise, which is exactly what we are doing with this new business. While some firms are delaying returning to in-person contact and may be looking at a digital offering instead, many clients prefer face-to-face meetings especially when their needs are complex. We are ready to give them the personal care and attention they deserve and look forward to welcoming them to our new offices.”
Robert Goldschmidt added, “It is a very interesting time to be starting a new business. The pandemic has reminded us all of the importance of the job we do. We are very excited to be working with Raymond James, whose client centric approach echoes our own. We have worked closely with Raymond James for 15 years and we respect the ‘can do’ attitude that everyone we encounter in their business portrays. Their set up allows us to run our own business with the backing and oversight of a highly reputable Fortune 500 company.”
Anthony Scott, Head of Business Development at Raymond James said: “Tony and Robert are hugely experienced and talented wealth managers and we are very happy to have them and the rest of their team on board. The pair have a clear outlook on how they like to approach investments and client relations, which perfectly fits with our ethos at Raymond James. We look forward to supporting them as they establish and grow Raymond James, Barbican.”
For more information visit the Raymond James, Barbican website.
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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