Transition | Working With Raymond James UK

Your transition, your way

Every transition to working with Raymond James is well planned in consultation with you every step of the way, and working at a pace that suits you.

Your Relationship Management Team will work in partnership with our Head Office teams, making sure your experience is smooth and seamless.

Towards the end of your transition, we will arrange a comprehensive training plan to introduce you to the wider Raymond James team, our processes and procedures, as well as our systems in depth. We always try to customise where we can, ensuring your specific needs are met.

To give you an idea of what to expect, we typically cover areas such as:

The resources available to you

Client reporting

Client account opening

Gathering assets

Our trading and rebalancing system

Compliance support

Marketing support

IT support and security

After your first accounts are opened and funded, we will arrange a follow-up training session at your office, giving you an additional opportunity to ask questions and learn more about the systems you’ll be using.

In the background, you’ll also have access to full Head Office support by phone, Zoom or by email, so help will be on hand at all times.

The key to a successful transition, in our experience, is in getting your clients’ assets transferred across as quickly as possible. To make that happen, we provide you with a dedicated resource in each of our Onboarding & Asset Transfers team, and conference calls to keep you informed.

Your Relationship Management Team will guide you through your Transition and support you in every stage of your journey.

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

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.

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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.

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, 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.
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.

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.