Founded in 1962 and a public company since 1983, Raymond James is a diversified financial services holding company with subsidiaries engaged primarily in investment and financial planning, in addition to investment banking and asset management.
*Source: Company website
Despite the focus on retaining Morgan Keegan advisors and integrating the b/d into its operations, Raymond James reported a solid recruiting quarter as well as record advisor productivity. ...
A $4 million revenue producing team from Wells Fargo Advisors Financial Network (FiNet) has jumped ship to Raymond James Financial Services, the firm’s independent contractor unit. ...
Raymond James Financial announced this morning that it has closed the deal to purchase regional firm Morgan Keegan from Regions Financial Corp. for $1.2 billion in cash. The combined firm will have 6,500 advisors and $372 billion in total client assets. ...
There’s been a lot of speculation over how many of Morgan Keegan’s 1,000 financial advisors will stick around as the firm gets absorbed into acquirer Raymond James, a deal expected to close in April. Some are resistant to the change or are being lured away. ...
Raymond James Financial said it is moving its registered investment advisor unit out of Raymond James Financial Services, its IBD division, and setting it up as a separate division with its own president. ...
While other firms suffered in the fourth quarter on slow client activity, LPL Financial (Nasdaq: LPLA) announced earnings today of $39.4 million for the quarter, up $156 million from a net loss of $116.6 million in the fourth quarter 2010....
Raymond James Financial (NYSE: RJF) reported fiscal 2012 first quarter revenue fell four percent to $782.5 million, while earnings were down 18% to $67.3 million. ...
Much of the talk at the Financial Services Institute’s OneVoice 2012 conference in Orlando is about the challenge independent broker/dealers face by allowing advisors to have their own registered investment advisor. During a Tuesday panel session, IBD executives said the RIA model was putting pressure on their recruiting, profitability and expense of compliance. ...
Margin pressure, upheaval in advisory business models, lack of certainty in the market – most of the current trends in the wealth management industry can be traced back to the global financial crisis in 2008. Three years after the world fell apart, the industry is still adjusting to the aftershocks....
In a conference call this morning to discuss Raymond James’ acquisition of Morgan Keegan, CEO Paul Reilly said his first priority was retaining Morgan Keegan people, reps in particular. Raymond James said the firm expects to offer $215 million in retention payments to Morgan Keegan reps and some management. On top of that, Morgan Keegan has set aside an undisclosed amount for advisor retention, Reilly said. ...
Jan 11, 2012 5:36 PM, By Diana Britton and Kristen French
Raymond James announced Wednesday it will acquire Morgan Keegan for $930 million. Rumors recently surfaced that a deal between the two firms might be in the works. Regions Financial Corp. put Morgan Keegan on the block in June after it agreed to a $210 million settlement with federal, state and industry regulators over issues related to subprime mortgage-backed securities. The acquisition will add over 1,000 advisors to Raymond James’ current 5,000. ...
Raymond James is in the running to acquire Morgan Keegan, according to published reports. Morgan Keegan, which has about 1,200 advisors, was put on the block by parent Regions Financial Corp. (RF) this summer after the firm agreed to a $210 million settlement with federal, state and industry regulators over issues related to subprime mortgage-backed securities. ...
Distance from the crisis and improved asset flows gave a little kick to advisor satisfaction this year, according to Registered Rep's Broker Report Card. But the ratings are mixed. ...
Raymond James recently launched a two-year, mentor-type training program for new advisors, and it hopes the program will be more conducive to attracting and retaining women, although the program is not solely targeting women. Raymond James’ entire advisor force is about 17 percent women, but the inaugural class of the Advisor Mastery Program is already 34 percent female....
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