Raymond James

Overview: Raymond James is a publicly-traded full-service brokerage firm with a focus on financial planning. It is headquartered in St. Petersburg, Florida. Its lines of business are:

  • Financial Advisory Services
  • Financial Planning
  • Banking Services
  • Equity Capital Markets
  • Public Finance
  • Institutional Sales & Trading
  • Merchant Banking (Private Equity)

Job Openings: See this list of current job openings.

Size: Raymond James has offices in all 50 states, Canada, and the U.K. Its fiscal year ends on September 30, and these figures are as of June, 2008:

  • Financial Advisors = 4,913
  • Support Staff = 3,900
  • Worldwide Offices = 2,200
  • Client Accounts = 1.8 million
  • Client Assets = $212 billion

Positives: Raymond James offers financial advisors a variety of affiliation options and compensation plans called its AdvisorChoice program, ranging from a traditional employee relationship to independent contractor alternatives. Additionally, its financial advisor compensation plan does not include sales quotas or incentives for product pushing. Raymond James reports high scores in independent surveys of both client and financial advisor satisfaction. For example, the 2008 J.D. Power and Associates survey of financial advisor satisfaction had Raymond James in a tie for first place.

Raymond James touts a recent survey naming it as one of the best places to work for information technology professionals. Raymond James also was able to post strongly positive net income in both 2007 and 2008, years in which many other leading financial services firms posted huge losses, and its financial advisor ranks are growing.

Negatives: Raymond James has relatively low name recognition, which can increase a financial advisor’s difficulty in attracting new clients.

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