Raymond James is today announcing the opening of a new branch at Ropemaker Place, London, run by new branch principal Simon Monk. Simon joins Raymond James from Brown Shipley, where he began his career in investment management twenty-six years ago.
The new branch will provide a discretionary investment management service to clients across the UK, from private individuals to charities. The bespoke service offered by Simon will include financial planning services, including advice in the areas of pensions planning, estate and inheritance tax planning, family protection and lifetime cashflow planning.
From its base in the City of London, the Ropemaker Place branch will cover all four corners of the British Isles, with a particularly large representation within the Hampshire, Lincolnshire, and Cambridgeshire areas.
On joining Raymond James, Simon Monk said: “What drew me to Raymond James was its unique practice of allowing experienced investment managers to take responsibility for the management of their own business and control over their investment strategy. After almost three decades in this field, I am ready to place my own stamp on the wealth management industry, and plan to do just that with the launch of Raymond James, Ropemaker Place.”
“Clients invariably place a high value on personal service, and this insight is engrained into the fabric of Raymond James. Very few people want to be confronted with management speak and financial jargon, reams of analysis and an array of graphs and charts; they want to understand where their money is invested, trust that it is well looked after, and see how it is working for their benefit. By communicating clearly at each stage of the investment journey, I ensure clients are fully informed as to how their investments are evolving.”
Anthony Scott, Head of Business Development at Raymond James said: “As a seasoned professional who has a considerable breadth of knowledge on an increasingly complex sector, Simon’s expertise and unique offering provides him with the ideal tools to support and guide his clients to help them achieve their financial goals. Simon’s focus on client service aligns with our own values, and we are confident that with the support of Raymond James this branch will go from strength to strength. I am delighted to welcome him to the Raymond James family.”
For more information visit the Raymond James, Ropemaker Place 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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