Excerpts from business press reports. These are provided for informational purposes only and are not to be considered a solicitation to buy or sell Raymond James Financial stock.
Raymond James CEO on Financial Regulation Fox Business News | Thursday, November 19, 2009
Raymond James Chairman and CEO, Tom James, discusses regulatory reform on Fox Business News.
Tom James receives national corporate citizenship award wilsoncenter.org | Tuesday, November 10, 2009
The Woodrow Wilson International Center for Scholars of the Smithsonian Institution presented the Woodrow Wilson Award for Public Service to General David H. Petraeus and the Woodrow Wilson Award for Corporate Citizenship to Thomas A. James at a dinner November 9, 2009, at the Renaissance Vinoy Resort in St. Petersburg, Florida.
Passing the Torch at Raymond James Florida Trend | Wednesday, September 30, 2009
Leadership transitions are high-stakes affairs. In hiring his own replacement, Tom James has adopted a phased-in succession. Today, as James prepares to pass the torch to Paul Reilly, he’s created a more gradual succession plan that takes into consideration the fact that Reilly hasn't grown up in the company's culture. Reilly began working at Raymond James earlier this year but won’t formally take over until May. In the meantime, James will mentor and coach him while continuing to serve as CEO.
Career Moves The Call of Independence Registered Rep | Thursday, September 3, 2009
Wirehouse reps are increasingly looking beyond Wall Street firms these days. The proportion of wirehouse advisors switching to another has fallen steadily over the past year, while the number going to independent b/ds and RIAs, as well as to regionals and institutional firms, has risen, according to data from Discovery. Take Sam, a southeast Merrill advisor who manages $165 million in assets and generates $1.3 million in revenue. Early this year, Sam was considering a move to Raymond James as he was worried about the Bank of America takeover of Merrill. But Sam was even more worried about the market conditions and feared his clients wouldn't follow him. More recently, however, his clients began asking him to move and in late July, he pulled the plug and joined Raymond James.
Bremer Bank to partner for services The Daily Journal | Tuesday, September 1, 2009
Stephen Kruchten, president of Bremer Investments, a subsidiary of the privately held Bremer Financial Corporation, announced recently that Bremer Bank will utilize Raymond James Financial Services, Inc. member FINRA/SIPC to offer clients investment and wealth management services. The conversion to the new services will take place in the third quarter. “We are privileged to welcome Stephen and his team at Bremer Investments to the Raymond James Financial Institutions Division family,” said RJFS-FID managing director John Houston. “Their commitment to servicing all their clients’ investment and wealth management needs is tremendous and we look forward to a long and mutually rewarding partnership.”
Raymond James sells $300 million in debt in inaugural offering Bloomberg.com | Thursday, August 13, 2009
Raymond James the biggest U.S. regional brokerage, sold $300 million of 10-year senior notes in its first debt offering. The firm will use the bulk of the proceeds to fund growth of its brokerage business and bolster cash reserves, said Chief Executive Officer Tom James.
Raymond James, Shared Technologies, IT Authorities make list of best places to work St. Petersburg Times | Tuesday, July 28, 2009
Want to work somewhere with great pay and benefits? Nurturing relationships between subordinates and supervisors? Overall engagement and job satisfaction? Well, look no further than Florida Trend magazine’s “Florida’s best companies to work for in 2009.” It is the first time the publication, which is owned by the Times Publishing Company, which also owns the St. Petersburg Times, has compiled such a list. Other best local large companies: No. 8: Raymond James, St. Petersburg, financial services.
Five Spot Raymond James, Tech to Gain TheStreet.com | Thursday, July 16, 2009
Chris Guinther, manager of the RidgeWorth Small Cap Growth Stock Fund(SSCTX Quote), is bullish on technology firms such as Synaptics (SYNA Quote) and CyberSource (CYBS Quote), and expects shares of Raymond James Financial(RJF Quote) to gain during the next two years. Our top stock idea right now is Raymond James Financial (RJF Quote). We’ve calculated its normal earnings power within two years to be nearly $300 million per year, up from an expected trough of $125 million in 2009. We expect the company should be valued conservatively at 12 times normal earnings which would equate to a market value of $3.6 billion versus its current market value of $1.9 billion.
The Lure of Independence On Wall Street | Wednesday, July 1, 2009
For 14 years, Jason DiLauro was the epitome of the Merrill Lynch financial advisor who was devoted to the firm. DiLauro says of Merrill, “I never ever imagined leaving there. I kind of considered myself the poster child for the firm.” No longer. Nearly three months ago, DiLauro picked up and left. He set himself up as an independent through Raymond James Financial Services four miles from his previous office. If he was once the poster child for Merrill, he is now the profile of the new independent financial advisor.
Raymond James ranks highest in J.D. Power and Associates 2009 Canadian Full-Service Investor Satisfaction Study Yahoo! Canada | Wednesday, June 24, 2009
Raymond James Ltd., ranked highest in investor satisfaction with full service brokerage firms according to the J.D. Power and Associates 2009 Full Service Investor Satisfaction Study(SM). “This outstanding result is really a tribute to the efforts of our Financial Advisors and other colleagues across the country who consistently focus on putting their clients interests first,” says Paul Allison, President and Chief Executive Officer of Raymond James Ltd. “We are both grateful and humbled by this honour that our clients have made possible and for the faith they continue to place in our people and our firm.”
Tom James and Paul Reilly discuss transition St. Petersburg Times | Sunday, June 14, 2009
In an interview with the St. Petersburg Times Paul Reilly and Tom James discuss the dynamics of their transition that in some ways mirrors Reilly’s past experiences, but in other ways is quite unique.
Pali Research Upgrades Raymond James Financial StreetInsider.com | Thursday, June 11, 2009
Pali Research upgrades RJF from Neutral to Buy. Price target $20. Pali analyst says, “The rating change is reflective of two fundamental factors. First, we believe the outlook for RJF bank credit quality is stabilizing. Second, we believe investors are overlooking that RJF is a capital markets centric firm and is leveraged to an improvement in equity markets through its retail brokerage business, institutional, and investment banking...Finally, we believe the rally in the loan market...should also provide some relief and liquidity to the market.”
Raymond James Financial analysts recognized in stock-picking survey Wall Street Journal | Tuesday, May 26, 2009
Six Raymond James analysts received seven “Master Stock-Picking” awards: Brian Gesuale (Aerospace & Defense and Internet & Computer Services); Bill Fisher (Industrial Transportation); Brian Elliot (Restaurants); John Ransom (Food & Drug Retailers); Patrick O’Shaughnessy (Investment Services) and Joseph Hovorka (Leisure Goods & Services). The firm ranked eighth among all brokerage firms with seven awards and 49 analysts who qualified for the survey.
Raymond James Financial buys Lane Berry & Co. InvestmentNews | Tuesday, May 26, 2009
Raymond James Financial Inc said it acquired Lane, Berry & Co, a boutique bank focused on the business services industry, to beef up its investment banking business. With the acquisition, Raymond James will expand its coverage of the business services sector with particular focus on financial services technology and payment and transaction processing, the company said in a statement.
Raymond James has been named best full-service broker in SmartMoney’s June 2009 issue SmartMoney.com | Tuesday, May 19, 2009 A repeat winner from last year, St. Petersburg, Fla.-based Raymond James knocks out the competition in two categories: customer satisfaction and brokerage statements. The 47-year-old Raymond James, which took on more than 300 new brokers last year, says it’s also scooping up new customers from full-service outfits with riskier balance sheets and uncertain futures.
Raymond James Recruits Million Dollar Producers from Goldman, Citi, and Merrill OnWallStreet.com | Monday, May 04, 2009 “In these turbulent times in particular, financial professionals are looking for the stability a conservatively managed firm like Raymond James provides, yet one that allows them the independence to manage their own practice while putting clients’ interest first,” said Bill Van Law, national director of business development.
Raymond James Chairman & CEO, Tom James gives his view of the economic crisis
The Maddux Business Report | Friday, April 3, 2009 The Maddux Business Report sat down not long ago with Tom James to get his take on the matters at hand, and to get a peek into how the chairman and chief executive officer of Raymond James Financial (RJF) is negotiating his own house through this crisis. James may be conservative in his general approach and outlook, however he's anything but conventional.
The data provided above is for informational purposes only and is not a solicitation to buy or sell Raymond James Financial stock. Past performance is not indicative of future results.Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are affiliated with Raymond James Bank, a federally chartered savings bank. Unless otherwise specified, products purchased from or held at Raymond James & Associates or Raymond James Financial Services are not insured by the FDIC, are not deposits or other obligations of Raymond James Bank, are not guaranteed by Raymond James Bank and are subject to investment risks, including possible loss of the principal invested. Products, terms and conditions subject to change. Subject to standard credit criteria. Property insurance required. Flood insurance may be required.
Raymond James Euphoric Over Recruiting Research | Wednesday, April 01, 2009 Given the prevalence of chaos in the marketplace, economy and on Wall Street, CEO Tom James says, many advisors have been contacting Raymond James about a possible affiliation. “We can’t see the FAs who are calling, because we don’t have enough time for such a large number of meetings.”
Raymond James, Jeffries Keep Their Focus TheStreet.com | Thursday, March 19, 2009 These shops have kept their focus on the difficult but necessary regimen of blocking and tackling that originally made Wall Street great.
Raymond James predicts record recruiting year InvestmentNews | Thursday, March 05, 2009 Advisers from wirehouses feel let down, explained Jim Fulp, executive vice president and managing director at Raymond James. “They really feel betrayed. They are angry. They’re looking for a place where they can once again relax and say, ‘I don’t have to worry about the company.’”
The CEO patriot pledge: just say no to more layoffs cnbc.com | Wednesday, February 11, 2009 CNBC’s “On the Money” highlights Raymond James’ CEO as an example for other CEOs. Tom James’ base salary was less than 20 times the amount of the lowest paid worker at his company. As compared with the average CEO salary, which is 262 times that of the lowest paid worker.
David Macchia Interviews: Tom James Research | Sunday, February 01, 2009 Raymond James Chairman and CEO share his perspectives on the recent economic crisis and the benefits of the firm’s conservative operating philosophy.
Fixing the Global Economy: Where Do We Go From Here? Suncoast Business Forum | Thursday, January 15, 2009 Fixing the Global Economy: Where Do We Go From Here? A special episode of WEDU Suncoast Business Forum – Interview with Raymond James Chairman and CEO Tom James
How volatility breeds opportunity Fortune.com | Tuesday, January 06, 2009 You’ll have to forgive Jeffrey Saut if he savors 2008 a little longer than the rest of us. For in a year during which the S&P 500 fell a stunning 38.5%, venerable investment banks crumbled, and 401(k) plans from Tacoma to Tampa were vaporized, the chief strategist at Raymond James was one of those few market gurus with a legitimate claim on the four sweetest words in the Wall Street vocabulary: “I told you so.”
The 10th Annual Recruiters Roundtable On Wall Street | Thursday, January 01, 2009 OWS: Is any particular regional firm going to do really well recruiting in the next 12 months?... Diamond: Regionals have always differentiated themselves by having the horsepower of a wirehouse–but a smaller, more-nimble, flexible culture. Raymond James has done a fabulous job of that.
The Power Players On Wall Street | Thursday, January 01, 2009 Tom James was featured, along with Ken Lewis, James Dimon and others, as one of On Wall Street’s “Power Players”.
Debriefing Tom James Forbes | Friday, December 12, 2008 Raymond James CEO sounds off on the term “bailout,” government regulation and lessons learned over his career. To see a video of the full interview with Tom James on Intelligent Investing with Steve Forbes, please visit forbes.com.
Stability enhances loyalty InvestmentNews | Sunday, December 07, 2008 According to the results of a study to be released this month by Cogent Research LLC of Cambridge, Mass., more than half the nation’s top 23 financial services firms suffered losses in loyalty among their affluent clients. ...Raymond James & Associates Inc. of St. Petersburg, Fla., boasted double-digit gains, according to the study.
Raymond James Upbeat about Recruiting ResearchMag.com | Monday, December 01, 2008 For many broker-dealer firms, 2008 is a year to forget. But that’s not the case for Raymond James. “This will probably be the most successful recruiting year ever in terms of the momentum and pace we’ve seen in the candidates meeting with us in all channels,” says Raymond James Financial President and COO Chet Helck.
2008 Advisor Hall of Fame – Margaret Chow Starner ResearchMag.com | Monday, December 01, 2008 Margaret Chow Starner, Coral Gables , Fla. Through the League of Women Voters, Starner had met highly educated women who were savvy about community and political affairs – but had no grasp of their own finances. Starner, who was to become widely recognized as a trailblazer in the financial planning industry, was about to change that.
Raymond James Expands (scroll down when story loads) The Wall Street Journal | Sunday, November 30, 2008 Raymond James Financial Inc. is expanding amid other firms’ travails. While many of its peers are laying off workers in a bid to weather the credit crisis, the St. Petersburg, Fla., company is looking to boost its market share by snagging brokers, traders and bankers from these troubled firms. In an October conference call, Chief Executive Tom James said Raymond James had 5,045 financial advisers as of the end of September, up from 4,758 a year earlier.
Raymond James’ CEO scoops Entrepreneur Award Banking Times - UK | Wednesday, November 19, 2008 Thomas A. James, the chairman and chief executive officer of Raymond James Financial, Inc., enjoyed his night at the Ernst & Young awards.
Going Indy Financial Planning | Tuesday, November 04, 2008 Many broker-dealers are feeling the benefits of advisors’ push toward independence. Though St. Petersburg, Fla.-based Raymond James was already having what it considered to be a very good year, Senior Vice President and National Director of Business Development Bill Van Law was happy to see the company’s growth revenue from new advisors up 45% year-to-date through August. Lead flow is up nearly sixfold.
Tech-savvy indies a draw for some advisers InvestmentNews | Monday, November 03, 2008 Joe Amalfitano left New York-based Smith Barney in March to go independent and said that technology support was one of the key reasons he chose to affiliate with Raymond James. “When I got over here I was shocked how comparable, if not superior, Raymond ---James’ technology was to that of Smith Barney,” he said
2008 Broker/Dealer Excellence Awards Boomer Market Advisor | Saturday, November 01, 2008 Advisors are extremely impressed with the house that Tom (James) built. “If I were to leave my current b/d, I’d take a hard look at Raymond James” is a phrase we constantly hear
Raymond James snags high-earning Merrill team InvestmentNews | Thursday, October 23, 2008 A veteran Michigan-based brokerage team at Merrill Lynch & Co. Inc. that produces $2.7 million in fees and commissions has bolted to Raymond James & Associates Inc., saying its clients are concerned about the financial stability of Merrill.
Raymond James CEO says firm gaining from crunch Reuters | Wednesday, October 01, 2008 It may not have the biggest household name, but regional brokerage Raymond James Financial Inc is now one of Wall Street’s largest independent securities firms and among the industry’s top performers.
Catching up with... Dick Averitt Investment Advisor | Wednesday, October 01, 2008 Raymond James Financial Services’s (RJFS) national conference, in Washington in late August, drew an impressive 968 advisors.
Wall St. woes don’t worry smaller firms InvestmentNews | Sunday, September 28, 2008 ”The rest of the world is being reeled back into the kinds of conservative business decision making that we’ve always used,“ said Chet B. Helck, president and chief operating officer of Raymond James Financial Inc.
Wirehouse Brokers Want Out InvestmentNews | Monday, September 22, 2008 Mr. Helck stressed that Raymond James, which has 4,716 brokers and advisers across various business channels, is seeing interest from advisers with a variety of firms, not just Merrill Lynch & Co. Inc. "The more this dislocation occurs, the more it really validates our business model," he said.
Raymond James Grabs Two Top Teams On Wall Street | Tuesday, September 16, 2008 Brokers formerly with Merrill and UBS make the move to Raymond James.
Solomon's firm kicks it up a notch Columbus Ledger-Enquirer | Tuesday, September 09, 2008 But Murray Solomon has more than 500 clients with which he can share the recent news that the firm for which he works, Raymond James Financial Services.
The Other Surprise in Tampa Bay Barrons | Monday, August 25, 2008 Raymond James had a top showing in Barron's most recent ranking of brokers' stock recommendations. Read more about the results in this article.
For the twelve months ended June 30th 2008, Raymond James recommended61 securities through its Focus List. Of these 28 advanced and 33 declined. Performance includes dividends and a 1% trading commission on additions and deletions. The Focus List returned -2.9% during this period, whereas the S&P 500 returned -13.1%. The S&P 500 is an unmanaged index of 500 widely held stocks. Investors cannot invest directly in an index.Individual results will vary and an investor would incur commissions (and interest charges if transacted in a margin account) to transact these recommendations. A complete record of all Focus List recommendations during this period is available upon request.The results presented should not and cannot be viewed as an indicator of future performance.The market value of securities fluctuates and investors may incur profits or losses.
Raymond James & Associates (RJA) makes a NASDAQ market in the shares of Pharmaceutical Product Development. RJA co-managed a follow-on offering of WLT shares in June 2008. The returns for Continental Resources were extraordinary and not likely to be duplicated in the future. The closing prices on Friday August 29, 2008 for the stocks recommended by Raymond James which were mentioned in the article were: CLR $50.17; PPDI $40.80; WLT $93.80.
Raymond James Nabs $3 Million Team from Smith Barney Financial Planning | Thursday, August 14, 2008 Geegan says the small firm culture at Raymond James persuaded them to make the move. “We saw it as a way to get back to our roots. Bigger is not necessarily better,” he says.
Raymond James tops client satisfaction rankings Reuters | Wednesday, July 30, 2008 Read more about the J.D. Power and Associates 2008 Full Service Investor Satisfaction StudySM in this article.
Raymond James profit up 2 pct, commissions rise Reuters | Tuesday, July 22, 2008 Raymond James reported a 2 percent increase in quarterly profit on Tuesday. Read more about the third quarter earnings in this article.
A Stock and a Hard Place Florida Trend | Tuesday, July 01, 2008 St. Petersburg brokerage Raymond James had virtually no exposure to the subprime mortgage market. Chairman and CEO Tom James elaborates in this article.
Breaking Free On Wall Street | Tuesday, July 01, 2008 Now that their golden handcuffs of wirehouses aren't so arresting, more advisors will be looking to go independent. On Wall Street profiles two advisors who made the move to the Raymond James Independent Contractor division.
Financial stocks we love CNN Money | Friday, May 02, 2008 Raymond James is one of just six firms -- and the only brokerage -- to make this list of stocks expected to perform well despite the troubled financial climate.
Top 50 Independent B/D Advisors Registered Rep | Tuesday, January 01, 2008 19 Raymond James Advisors -- more than any other firm -- placed on the Registered Rep Top Independent B/D Advisors List
Leader of the Band Research Magazine | Tuesday, January 01, 2008 Jeff Oster’s financial career gives him the freedom and business know-how to be a player in the entertainment arena.
CEO Tom James Provides Subprime Perspective PBS Nightly Business Report | Tuesday, December 18, 2007 Tom James appeared on the PBS Nightly Business Report Tuesday, December 18. In the interview he discussed the subprime industry meltdown, how Raymond James fared and the firm's commitment to staying independent.
2007 Advisor Hall of Fame: Van Pearcy Research Magazine | Saturday, December 01, 2007 Since joining Raymond James, Pearcy’s asset base has more than tripled - a result he attributes in large measure to a team approach that encompasses his own in-house team [including his wife, Donna, a vice president] and insurance, tax and estate planning specialists allied with Raymond James.
Migration Time Investment Advisor | Sunday, November 11, 2007 Not only are advisors changing firms, but also many who do so are going over to the investment advisory side of the business. “The volume of [resumes we receive] increases in the fall, winter, and spring,” says Bill Van Law, laughing because as senior VP of business development at Raymond James Financial Services, he’s based at the company’s headquarters in St. Petersburg, Florida. But it seems that interest from representatives from wirehouses has spiked.
America’s Top 100 Independent Advisors Registered Rep | Sunday, November 11, 2007 There are close to 90,000 independent broker/dealer reps in the industry, more than any other channel. Here are the Top 100 ranked by assets under management. 6 Malcolm A. Makin; 7 Gerard A. Klingman; 11 Van Pearcy; 15 Mark Smith; 25 David Tanner; 31 Charles Morris; 32 Sherri Stephens; 33 Judith A. McGee; 35 Carl Stuart; 38 Stephen W. Johnson; 48 Daniel Gavin; 50 John Moore; 67 Todd Sanford; 69 Marilyn Gunther; 76 Robert Bjork; 78 Kalita Blessing; 81 Craig Noel; 82 Robby D. Harfst; 83 Scott A. Wigren; 93 Nancy K. Caton
Recruits in the Driver’s Seat Registered Rep | Thursday, November 01, 2007 At Raymond James, the number of advisors recruited so far this year is already about 80 percent ahead of where it was last year
How to Swim Upstream Registered Rep | Monday, October 01, 2007 Raymond James advisors Kalita Blessing and Greg Ghodsi discuss their growth in high net worth clients along with Chip Bauder of Raymond James Wealth Solutions department.
Women Making Impact at Raymond James Financial Advisor | Friday, September 28, 2007 Tracey Longo reports from the 13th Annual Raymond James Women’s Symposium
Raymond James Attracts 71, Adds ’07-’08 Bonuses Research Magazine | Saturday, September 01, 2007 During the second quarter of 2007, Raymond James Private Client Group recruited 71 new financial advisors, with 40 joining its employee channel - Raymond James & Associates - from 18 firms, such as A.G. Edwards, Smith Barney and Merrill Lynch
Independent-Broker Dealer Round Table: Transcript InvestmentNews | Monday, August 20, 2007 Raymond James Financial Services’ Bill Van Law participated in a candid round table discussion of issues affecting independent broker/dealers.
Raymond James unit gives bonuses to big producers InvestmentNews | Monday, June 18, 2007 In an effort to charge up its top registered representatives and financial advisers, Raymond James Financial Services Inc. is giving bonuses to its biggest-producing brokers.
Wachovia deal lifts Raymond James, other brokers SmartMoney.com | Friday, June 01, 2007 Following Wachovia/A.G. Edwards announcement, speculation about Raymond James as takeover target, put to rest by Chairman & CEO Tom James.
Raymond James: Company Committed To Staying Independent The Wall Street Journal | Thursday, May 31, 2007 NEW YORK (Dow Jones)--Raymond James Financial Inc.’s (RJF) chief executive said the firm remains committed to staying independent in the wake of a merger announced by rival A.G. Edwards Inc. (AGE).
Raymond James recruits recruiters InvestmentNews | Monday, May 14, 2007 Raymond James Financial Services Inc. is adding major clout to its recruiting effort, bringing on board half a dozen recruiters, including two top executives from rival independent-contractor firms, investmentnews.com reported Friday.
Raymond James & Associates lands bigger producers InvestmentNews | Monday, April 09, 2007 Raymond James & Associates Inc. recruited 36 registered representatives during the first quarter ... according to Dennis Zank, the firm’s president.
Customer Service Champs BusinessWeek | Monday, March 05, 2007 Raymond James earns top honors for anticipating and exceeding client needs.
FP50: On the Cutting Edge Financial Planning | Thursday, June 01, 2006 Four broker-dealers have found success by creating their own unique business models.
New VA requirements for Raymond James InvestmentNews.com | Friday, May 05, 2006 Raymond James Financial Inc. has created new requirements for the variable annuities the firm’s nearly 5,000 employee and independent-contractor registered representatives sell, the company announced today.
Raymond James Gets Results Investment Advisor | Friday, September 01, 2006 Could lower costs be next for variable annuities?
Raymond James names new recruiting chief InvestmentNews.com | Tuesday, September 12, 2006 Raymond James Financial Services Inc. of St. Petersburg has settled at last on a new head of recruiting, reaching out to its sister firm, employee broker-dealer Raymond James & Associates Inc., to make its pick.
Testing the Glass Ceiling Financial Planning | Monday, October 30, 2006 Women are working to raise their numbers—and their profile—in financial planning.
Hearing Women Reps Roar On Wall Street | Wednesday, November 01, 2006 There were very few men present at the two big industry conferences devoted to women that recently took place: the 2006 Raymond James Women’s Symposium and Deutsche Bank’s Women on Wall Street.
HALL OF FAME – Malcolm A. Makin ResearchMag.com | Friday, December 01, 2006 At the start of his career, Mal Makin worried about being “found out.” In fact, long before he even had a secretary, Makin dressed well and outfitted his office in nice furniture so that he would appear successful.
Women’s Work Financial Advisor | Friday, December 01, 2006 For the first time since becoming an advisor 15 years earlier, she realized that her survival meant dramatically changing the way she was running her advisory practice or quitting entirely.
Raymond James & Associates, Inc. member New York Stock Exchange / SIPC and Raymond James Financial Services, Inc. member FINRA / SIPC are subsidiaries of Raymond James Financial, Inc.
