Raymond James are pleased to welcome David Stevens as a new Co-Branch Principal at Raymond James, Royal Exchange. David Stevens will be joining David Roblin, who launched the Central London practice last year.
Stevens brings with him over twenty years’ experience in the wealth management industry most recently at J M Finn, with much of that time spent working closely with David Roblin.
Stevens and Roblin are to be reunited at the Royal Exchange complex, based in the heart of London, which offers the ideal setting for their truly bespoke approach to discretionary investment management for private clients across the UK.
On joining Raymond James, David Stevens commented: “Raymond James has an attractive business model for private client wealth managers putting the client at the forefront of their decision making and investment process, and I’m planning to make full use of its excellent support framework to deliver the level of service which our clients have come to expect.
“I’ve known David for many years and I’m looking forward to working with him again, to growing the business, and to helping our clients navigate this new normal with confidence. This is the beginning of another exciting chapter for the two of us.”
Mr Roblin added:
“David and I have worked together for the best part of the past 20 years and I’m thrilled to be doing so once again. We share a common view about how our world is changing, how wealth management is evolving, and both believe that adaptability is integral to protecting our clients’ financial interests.
“We live in extraordinary times, and the investment landscape is in a heightened state of flux. Now more than ever, our clients are turning to us for trusted advice on the best way forward. With the support and flexibility afforded by Raymond James’ business model, we are well placed to answer that call.”
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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