We believe every wealth manager should have the ability to grow your practice in the way that suits you best. We offer four ways of working with us, so you can select the solution that is right for you and your clients.
Investment managers and investment focused financial planners working with us typically service high-net-worth clients with complex financial needs. In some cases, the clients may be charities and pension funds.
Our services are delivered in an open architecture environment so that you can select the products and solutions that meet your clients’ specific needs in the most cost-effective manner. You will have access to a broad range of assets and tax wrappers, with no requirement to use in-house products, ensuring there is no conflict to unbiased investment selection.
Raymond James is a LSE member firm with direct market access to 25+ global exchanges, providing rapid and cost-effective trade execution for listed securities and ensuring no broker fees for UK listed investments, with up to 15 Retail Service Providers polled to ensure best price.
In the UK, Raymond James supports over 100 wealth management practices through our four different ways of working with us: Employee Affiliation, Independent Contracting, Professional Partnership and the Investment Management Platform.
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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