Through its two investment firms, Raymond James & Associates and Raymond James Financial Services, the firm has 3,700 Financial Advisors in more than 1,450 locations throughout the United States and internationally. The firm also acquired Roney & Co. earlier this year. In addition, its asset management subsidiaries currently manage in excess of $14 billion.
A public company since 1983, Raymond James Financial's shares are traded on the New York Stock Exchange under the symbol RJF. It is one of the 10 largest securities dealers in the United States, with offices coast-to-coast. In1998, Raymond James Financial became a $1 billion company. Worldwide, the firm has more than 7,500 Associates.
Florida born and bred, the firm was founded in 1962 by Bob James as Robert A. James Investments. It was among the first firms in the country to pioneer the concept of financial planning as a common-sense approach to money management.
In 1964, Bob bought the firm of Raymond and Associates, comprised of 15 Associates in the Bradenton-Sarasota area, and Raymond James & Associates was created. It surprises most people who are unfamiliar with the firm to learn that no one by the name of Raymond James exists. It's simply a combination of the two names, Robert James and Edward Raymond, who sold his firm to Bob.
By the time Bob's son, Tom James, joined the firm in 1966, new offices of Raymond James & Associates were popping up all over Florida.
Today, Raymond James Financial subsidiaries include an international financial services firm with its own insurance agency, federal savings bank, trust companies, merchant banking company and asset management subsidiaries. The firm has international offices in Argentina, Belgium, Canada, England, France, Germany, India, Italy, Luxembourg, Switzerland and Turkey.
Being first is nothing new to Raymond James
In 1998, when Raymond James decided to buy the naming rights to Tampa's new community stadium, it became the first investment firm in the United States to make such a bold move. But being first is nothing new at Raymond James.
Raymond James is widely known as a firm of firsts. In addition to being one of the first firms to offer financial planning, it was among the first to affiliate an insurance agency in support of its financial planning process. It also became one of the first to offer clients the alternative of wrap-fee accounts and the first to provide investors with a "Client Bill of Rights," a detailed explanation of an investor's rights and responsibilities.
In 1998, Raymond James achieved another first when it became the only firm to offer investors exclusive mutual fund research with specific recommendations (highly recommended/hold-under review or not recommended) on load and no-load mutual funds and sectors.
Service makes Raymond James special
A key factor in the firm's success is its unswerving commitment to clients, embodied in a philosophy called "Service 1st." Bob James, whose concern for people and their financial well-being was exemplary, set this extraordinary standard for client service.
The firm's commitment to service has only grown more resolute over the years as Tom has continued to stress his father's allegiance to client service. Now, Tom's sons, Hunt and Cort, have joined the firm with a vision of continuing the corporate culture initiated by their grandfather. In fact, it was Hunt, director of Corporate Client Services, who shepherded the concept of naming the stadium.
The firm is also distinguished for its support of the communities in which we live and work. In Tampa Bay alone, Raymond James is perennially one of the largest contributors to the United Way, sponsors major art events such as the Gasparilla Festival of the Arts, supports the Florida Orchestra, contributes to several prominent museums and aids many Tampa Bay educational institutions. Raymond James also encourages its Associates to participate enthusiastically in volunteer activities which enrich the community and its people.
Work, work, play environment
It's commonly known in the Tampa Bay area that people who choose to work for Raymond James usually remain with the firm. Many Associates have celebrated and surpassed their 20-, 25-, even 30-year anniversaries with the 37-year-old firm.
Raymond James works hard to find employees who meet the firm's standards in terms of knowledge, aptitude, energy and service orientation. And once those employees are on board, Raymond James works even harder to ensure that they stay with the company.
While the turnover rate may be low, the firm's growth rate is tremendous. At any time, there are 100-150ngs at the corporate office. On average, the firm receives 15,000 applications a year and conducts 3,200 interviews. Not surprisingly, a large percentage of new hires spring from Associate referrals.
Two key factors figure into the high employee retention rate at Raymond James. They are the firm's distinctive "work, work, play" environment and the educational opportunities the firm offers.
In addition, Associates are encouraged to continue their academic studies and the company reimburses for college tuition costs in most cases.
Another benefit enjoyed by Associates at Raymond James is the opportunity to enjoy magnificent art on every floor of every tower at the Raymond James Financial Center. Tom's personal art collection is one of the largest private collections in the Southeast and runs the gamut from Wall Street paintings by Leroy Neiman to stunning outdoor Indian bronzes by Dave McGary. The collection is maintained by a full-time art curator who supervises Associate, client and community tours on a regular basis.
It may seem like a stretch for a firm that specializes in investment and financial planning and is noted for its art and community involvement to partner with the hard-hitting rising star of the National Football League, the Tampa Bay Buccaneers. But it's proven to be a good match.
