Raymond James has opened a new branch in Newcastle upon Tyne, led by branch principal Gary Fawcett and wealth managers James Carrick and Rob Brotherton.
The new branch, which will go by the name ‘Raymond James, Monument’, will offer bespoke investment services across the North East of England, from the Scottish Borders to North Yorkshire and the Lake District.
The team will provide discretionary investment management and financial planning services to a wide range of clients, including individuals, companies and trusts. In particular, they will provide support to entrepreneurs across their business journey, including shareholder protection, pension contributions and investment accounts.
Branch principal Gary Fawcett began his financial career in 1998 at Wise Speke (later acquired by Brewin Dolphin) on a work placement during university. He returned as a graduate trainee and remained there for 23 years.
James Carrick has been working in the finance industry for seven years, following his graduation from the University of Leeds with a degree in Economics and Finance. After two years at RBC Brewin Dolphin, James fully qualified as a Chartered Wealth Manager, and has been developing his professional network in the city of Newcastle since.
Rob is a Chartered Financial Planner and Chartered Wealth Manager, and has worked in financial services for over 25 years. He enjoys getting to know clients to provide tailored solutions for individual circumstances and needs.
On joining Raymond James, Gary said: “I have always been a firm believer in putting clients first and finding personalised solutions to their situations, and so Raymond James was a perfect fit in terms of culture and aligning on this focus. What clients most want is honesty, trust, good value and expert advice, and that is exactly what James, Rob and I plan to focus on as we build and grow the branch.
The technology, compliance, and business support that Raymond James provides will give us the freedom and stability to focus our time on helping and adding value to our clients. I can’t wait to get started.”
On the new branch, Jason Cherriman, Senior Business Development Manager at Raymond James said: “Gary is a talented and experienced wealth manager with a strong reputation in the local business community. He has ambitious plans for the new branch and with James and Rob alongside him, we have no doubt the branch will provide a valuable service to the area and beyond. We look forward to helping them grow the branch and achieve their vision in the years ahead.”
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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