Raymond James Financial, Inc. history, profile and corporate video
Raymond James Financial, Inc. is an American multinational investment bank and financial services company headquartered in St. Petersburg, Florida, the United States. It was founded in 1962 when St. Petersburg broker, Robert A. “Bob” James, formed Robert A. James Investments.
In 1964, Robert A. James Investments merged with Raymond & Associates, founded by Edward Raymond in 1963, to form Raymond James & Associates.
In 1965, Robert James brought his brother Roy James on board.
In 1966, Robert James’ son, Tom James, joined the company.
In 1968, a general insurance agency, known today as Raymond James Insurance Group, was established. Also that year, the Investment Management & Research, Inc. (IM&R), later part of Raymond James Financial Services, was formed to engage in investment banking activities
In 1969, Raymond James Financial was officially incorporated as a holding company.
In 1976, Raymond James Asset Management, later Eagle Asset Management and today one of the firms that make up Carillon Tower Advisers, was formed.
In 1980, Robert Thomas Securities was formed as an independent contractor broker/dealer.
In 1983, Raymond James went public, and the firm’s stock was listed on the NASDAQ.
In 1992, Raymond James Trust Company was formed.
In 1994, Raymond James Bank was founded as a savings and loan association.
In 1997, Raymond James International Holdings, Inc. was established.
In 1999, IM&R and Robert Thomas Securities merged to form Raymond James Financial Services.
In 2000, the company partnered with Killik & Co. to launch a new brokerage firm in the United Kingdom – Raymond James Killik Limited (later Raymond James Investment Services Limited) – to provide financial planning and investment services through independent contractor financial advisors.
In 2012, Raymond James merged with Morgan Keegan & Company, creating one of the largest wealth management and investment banking companies in the country not headquartered on Wall Street. Also that year, the company purchased the Canadian assets of Allied Irish Bank.
In 2015, Raymond James acquired The Producers Choice, LLC, a private insurance and annuity marketing company, and its 60 associates become part of Raymond James Insurance Group.
In 2016, the company acquired the Deutsche Bank Wealth Management’s US private client services unit, Alex Brown & Sons.
The company operates through the following segments: Wealth Management and Corporations & Institutions.
The Wealth Management segment comprises investment solutions, financial & retirement planning, estate, charitable giving & trust services, banking & lending services, insurance solutions, institutional services, and private wealth services.
Corporations & Institutions
The Corporations & Institutions segment focuses on investment banking, public finance, global equities & investment banking, fixed income capital markets, depository institution services, and other additional institutional services.
With over 19,000 employees and more than 8,400 financial advisors across the United States, Canada, and overseas, Raymond James Financial, Inc. is considered one of the largest banking institutions in the United States. According to Forbes, it is considered one of the Top 2000 Largest Public Companies in the world.
*Information from Forbes.com, Wikipedia.org, and www.raymondjames.com.
**Video published on YouTube by “Raymond James“.