Practice Intelligence | Raymond James UK

When you want to develop your branch, this is where you start

Practice Intelligence is a programme dedicated to supporting our wealth managers through a range of practice management tools, resources and sessions.

Wealth managers working with Raymond James have access to a broad suite of tools and resources which focus on four key areas to help develop and refine your planning:

Market and connect: Can you define your ideal client? Do you have a marketing strategy to find more ideal clients?

Plan and invest: Is KYC (Know your Customer) a chore, or something that your clients delight in? Do you add ‘wow’ to your on-boarding process?

Review and delight: How deep are your relationships with clients and their families? Are your clients advocates for your branch?

Refine your practice: What’s your five year vision for the branch and how will you get there? Do you have a plan to realise the value of your branch?

If you’re a wealth manager working with Raymond James, you can access these resources through the Raymond James Portal™.

Practice Intelligence in the press

Practice Intelligence Manager David Hazelton was approached by The Times to share his insight on intergenerational wealth – a topic that really matters to both our wealth managers and their investor clients.

Find out more about Practice Intelligence

If you’d like to find out more about Practice Intelligence and how we’ve helped our wealth managers with workshops and training, please get in contact with one of our business development consultants.

Find out more about how Raymond James can support you in setting up your practice:

Bear market of 1974

The 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, forgoing pay checks 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.
This “fortunate near-death experience” (as Tom calls it) permanently marked his psyche, and has influenced our firm’s character and culture since, solidifying the conservative nature that emphasizes a determined focus on the long term – both for clients and the firm.

We appreciate that market commentary can be informative and helpful, particularly in times of market volatility.

To view our most recent Market Commentary click here.

If you require further information about your portfolio, your wealth manager will be happy to assist. If you don’t have her/his contact details to hand, you can easily search by name or location via our Find a Wealth Manager Tool. Click here to access.

You are able to see your portfolio details via Client Access. Click here to login.

If you do not yet have your login details, your wealth manager will be happy to assist.

Black Monday

On 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.

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.

Taking Raymond James Public

When consideration was being given to taking Raymond James public, Tom James penned a letter to shareholders (largely employees at the time).
He wrote:

” … 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.