Raymond James has opened a new branch in the historic town of Droitwich Spa, Worcestershire. The new branch will be run by Daniel Faulkner, former Investment Director of Rathbones and Psigma.
Raymond James, Droitwich Spa will tailor portfolios according to clients’ needs and circumstances and will invest across direct equities, bonds and funds, as well as ETFs where relevant. Working closely with clients and or their advisors, the branch will provide investment solutions specific to the needs of the desired investment objectives.
With its good transport links, the branch will provide a localised service to clients across a wide catchment area.
On opening Raymond James, Droitwich Spa, Daniel Faulkner said:
“Opening the branch in historic Droitwich Spa with Raymond James was a logical next step for me. I have been working from Birmingham for many years, but I am excited at the prospect of now being able to provide an enhanced level of service to clients.
With the weight of Raymond James’ support behind me, I will have the flexibility to genuinely provide a bespoke personal service which always puts the client at the forefront, enabling me to respond to their needs quickly.”
Daniel Faulkner has prior experience in setting up a new wealth management branch, having co-founded Rathbones’ Birmingham office in 2008.
Daniel has over 30 years of industry experience, having begun his career at Albert E Sharp in 1989. He moved to Quilter in 1997 where he began to focus on providing Discretionary Management Services to Independent Financial Advisors and their clients.
On partnering with Raymond James, Daniel Faulkner added:
“With nearly 30 years’ experience, it is apparent to me that the industry needs to change and reorient itself around the client once again. I will focus on building a dedicated service for clients that is also attractive to financial advisors tired of a process-orientated and prescriptive investment model.
“With the global headwinds I see investors having to face over the coming years, both politically and economically, developing and sustaining a personal relationship with the advisor and their clients is ever more paramount.”
Anthony Scott, Head of Business Development at Raymond James said: “We are delighted to have Daniel join us and we are looking forward to supporting his branch as it grows and develops in the UK.”
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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