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Raymond James Financial is an American diversified holding company.
It provides financial services to individuals, corporations and municipalities through its subsidiary companies that engage primarily in investment and financial planning. Additionally it offers investment banking and asset management services.
Raymond James' client-focused approach has extended to serve client accounts through 8,200 financial advisors in the United States, Canada and overseas with approximately $1.02 trillion in client assets.
The holding company was incorporated in 1962 and listed on the NYSE in 1983.
Raymond James predominantly works with non-high-net-worth individuals, as the firm does not require a minimum asset amount for its financial planning or consulting services for individuals.
Raymond James offers a wide range of services, including:
Raymond James' asset management services division offers individual and institutional clients a wide range of portfolio options, which have different investment approaches and risk profiles.
Raymond James provides solutions to advisers and personal investors.
For personal investors:
Raymond James claims to have a "unique culture of independence" meaning your Raymond James wealth manager has the freedom to create a long-term plan based on your needs.
They say they recognise that different investors have distinct needs, so they never insist on predetermined fixed solutions. they offer access to a wide range of assets and tax wrappers so that their wealth managers have the freedom to choose what is right for clients.
Raymond James' wealth managers claim to have the expertise and tools they need to help you achieve your goals (we would recommend reading the expert verdict).
Raymond James say that their client relationships are built on a foundation of communication and trust.
Their guiding principles are conservative management, prudent growth and exceptional client service.
Raymond James advocates independence, leaving your wealth manager free to do what’s right for you, working with you over the long-term to shape solutions for your financial challenges.
Which may mean an expensive approach in plain English!
We would recommend reading the 'expert verdict' section of this review to learn more.
The American Funds Model Portfolios provide access to mutual-fund investment portfolios that are constructed and monitored by American Funds. They have low-cost mutual funds which are popular among investors and advisors.
The series has 5 portfolios across a range of objectives, from conservative to a growth objective.
Raymond James says that these Managed Account programs provide quality investments with no extra sales charges or transaction charges. They have an asset-based fee.
Your portfolio is said to be constantly monitored and rebalanced annually.
You can learn more here.
The Raymond James Portal™ is their technology platform. It enables you to:
I have to say, the customer service and attention to detail with Raymond James is good.
But as you've highlighted here, you pay a pretty penny for all this.
I am torn right now - I am not getting the returns I hoped for and I think it's down to fees rather than the wealth managers.
Online reviews (predominantly from the US) are mixed and reference the adviser, not the platform.
Our verdict is that this platform is expensive. However, if you have the right adviser, who acts in the right way, it may be a good option for certain expatriates.
If you are a senior international professional investing currently with Raymond James, and your portfolio is worth approx. £250,000 or more, we recommend a Second Opinion.