Raymond James is opening its doors in Buckingham with a brand new branch headed up by branch principal, Paul Wilson. Paul will offer a discretionary investment management service, utilising Raymond James’s extensive global research to build portfolios for private clients, trustees and small corporates.
Based on the outskirts of the market town of Buckingham, the branch will cover a region that extends across the three counties of Oxfordshire, Northamptonshire and Buckinghamshire, while also serving clients across the UK.
Having started his career as an IT technician, Paul was inspired to enter the investment world by an advert on the London Underground for The Penny Share Guide. He subsequently began his financial career as a stockbroker with Charles Stanley in the 1990s before a six-year stint as branch manager of WH Ireland’s Milton Keynes office, which he departed earlier this year.
On setting up with Raymond James, Paul Wilson said:
“Owning my own boutique investment business will bring its own set of challenges, but it is the perfect solution for me in the present climate. Portfolio construction is increasingly performed by anonymous committees that aren’t client-facing. That’s been a point of real frustration because I believe that a truly tailor-made service can only be delivered when investment decisions are made by those that know and understand the clients.
“I chose Raymond James because of the opportunity for me to take control of the investment process and to deliver a highly personalised investment solution to clients at an affordable cost. Raymond James, Buckingham, is all about simplification. From the investment process through to the charging structure, I want to deliver a service that clients can understand and that removes unnecessary costs, allowing them to keep more of the investment returns. I can’t wait to get started.”
Anthony Scott, Head of Business Development at Raymond James said:
“We’re so pleased to welcome yet another highly-experienced investment manager to the Raymond James family, further validating the attraction of our brand and the strength of our business model. We look forward to supporting Paul and this branch as it serves the investment needs of the people of Buckinghamshire and beyond.”
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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