Raymond James is proud to host a UK Network for Women Wealth Managers, an initiative that aligns with our broader Diversity, Equity and Inclusion strategy. The Raymond James UK Network is designed to support female wealth managers and leaders in our branches as well as within the directly authorised firms using our platform. The programme is also designed to help everyone recruit more of these talented women to our firm and to our network.
Our initiative provides support and resources to our female wealth professionals by offering educational, networking, mentoring and business development opportunities.
While the title of the group is the Women Wealth Manager Network, our initiative includes females not only who are already certified to perform regulated activities, but also those who are in a role that may lead them to this status (for example, paraplanners and those who are working through qualifications). It also includes other leaders in our wealth management practices, such as female Operations Managers, Client Services Managers, Finance Managers and others in leadership positions, recognising these women are equally critical to the success of the business. We also appreciate the support and encouragement our allies provide, helping us to progress our mission.
The share of wealth controlled by women is growing rapidly, fuelled by the ever increasing earning power of women enjoying successful careers as well as through the rise of more female entrepreneurs setting up their own successful business. Divorce and death of spouses are other contributing factors that put women in the position of being the primary investment decision maker.
Many female clients value a diverse wealth management team and in some cases do want to have a choice to work with a female wealth manager. Women are under-represented in our industry, and the Raymond James Women Wealth Manager Network is designed to try to address this imbalance.
For more information about how we support our wealth managers, please click here.
If you would like to speak to a member of our Advisory Council about recruiting, retaining or supporting Women in our community, please contact Annie Stacey and Samantha Pocock.
Aspire is a biannual magazine created and published by the Raymond James US Marketing team, targeted at the Network of Women Advisors in the US that highlights women in the financial services industry. In each issue, you’ll find thought leadership from energising executives, featured advisor success stories, tips to help you manage your practice and news about community involvement initiatives. While it mainly features women in the US – the food for thought is universal.
Should you have any questions about this publication, please contact the Raymond James UK Marketing team.
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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