Raymond James is today announcing the opening of a new branch in the heart of Cheshire. Launching under the name Raymond James, Chowley, it will be led by co-founders Audrey McKinstry and John Simpson.
Audrey and John have worked alongside one another for the past twenty years and have over 50 years of financial market experience between them. Their collective expertise and market insight will be used to provide clients, based in the North-West and across the UK, with discretionary investment portfolio management as a premium, tailor-made service.
Starting her career at William F Coates & Co in 1987, Audrey honed her expertise in individual and family portfolio management while working for the likes of Lloyds Private Banking and Greig Middleton & Co. She joined BWD Rensburg (now Investec) in 2001 where she was a Senior Investment Director.
She says: “Any investment manager starting their own business needs to have the right tools and expertise in place from day one, and Raymond James is providing that, and more. More than anything it’s giving us the sure footing to focus our energies on the most important part of our business: our clients and their investments.”
Following nine years in the army, John began his career in investment management in 1994 at Cazenove & Co. He went on to join Tilney then BWD Rensburg (now Investec) in 2000 as a Senior Investment Director.
He added: “Audrey and I have worked with one another for over twenty years but starting a business together under the Raymond James brand opens a new chapter in our professional lives. We both believe deeply in the value of fostering close, long term relationships with our clients and will be putting them at the heart of everything we do.”
Anthony Scott, Head of Business Development at Raymond James said: “2020 was an incredibly busy year for branch growth here at Raymond James, and that growth story continues into 2021, with the launch of our latest branch in Chowley. John and Audrey have shared a long and illustrious career together, and we’re so pleased to be welcoming them to Raymond James.”
For more information visit the Raymond James, Chowley 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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