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Raymond James Financial history
Raymond James Financial company history timeline
In 1962, Bob James set out to build a different kind of financial services firm – one that put people, planning and principles first.
Raymond James was founded in 1962 when St Petersburg broker, Robert James, formed Robert A. James Investments.
1964: Raymond James and Associates (RJ&A) is formed with the merger of Raymond and Associates into Robert A. James Investments.
In 1966, Robert James’ son, Tom James, joined the company.
IM&R, established in 1967, served independent financial planners.
In 1968, a general insurance agency, known today as Raymond James Insurance Group, was established.
In 1969, Raymond James Financial was officially incorporated as a holding company.
Revenue topped $5 million in fiscal 1972.
Thomas James put his business background into high gear when the 1973-74 recession and stock market crash created havoc for small stocks and, consequently, RJF. Emphasis had to change from sales to administration and finance.
Revenue began climbing again in 1975, a trend that continued for the remainder of the decade.
In 1976, Raymond James Asset Management, later Eagle Asset Management and today one of the firms that make up Carillon Tower Advisers, was formed.
1980: RJF's net income tops $1 million for the first time.
In 1980, Robert Thomas Securities was formed as an independent contractor broker/dealer.
Robert Thomas Securities, established in 1981 as a discount office, worked with independent stock and bond brokers.
1983: RJF completes a $14 million initial public offering.
1983: Raymond James is listed on the New York Stock Exchange, symbol RJF.
In 1983, Raymond James went public, and the firm’s stock was listed on the NASDAQ.
Our desks stay open to help meet clients’ needs, resulting in our first and only unprofitable quarter since the firm went public in 1983.
Herb Ehlers takes the reins at Raymond James Asset Management, which in 1984 he renames Eagle Asset Management.
1987: RJ&A opens its first international office in Paris, France.
In 1991, the vast majority of RJF's nearly 700 offices paid their own fixed costs and overhead out of sales commissions, according to Forbes.
In 1992, Raymond James Trust Company was formed.
By 1994, RJF had established a national presence.
1994: The Raymond James Bank subsidiary forms.
In 1994, Raymond James Bank was founded as a savings and loan association, enhancing the firm’s offerings to include the benefits of a national charter for advisors and client.
In 1997, Raymond James International Holdings, Inc. was established.
Raymond James Stadium’s opening day, September 20, 1998.
1998: RJF purchases naming rights for Tampa stadium.
The company's independent contractor subsidiaries Investment Management & Research (IM&R) and Robert Thomas Securities merged in 1999 to form Raymond James Financial Services.
The company's best year was 2000, when net revenue reached $125.2 million on revenue of $1.7 billion.
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.
According to Forbes, it is considered one of the Top 2000 Largest Public Companies in the world.
2001: RJF is named to the Fortune 500.
Chet Heick, an executive vice-president and chief recruiter for the firm's independent contractor subsidiary, was appointed RJF's first ever COO in March 2002.
The company earned $86.3 million on revenue of $1.49 billion versus $79.3 million in 2002 on revenue of $1.51 billion.
In fiscal 2003, RJF posted a 9 percent increase in profits, reversing a two-year downturn.
During 2003, more than 66 percent of revenue was generated by individual clients, 22 percent from institutional sales and investment banking, 8 percent from asset management, 2 percent from Raymond James Bank, and 2 percent elsewhere.
RJF posted records for sales and profits in fiscal 2004.
2008: Raymond James is one of the few firms to remain stable and profitable through the economic downturn.
The Bloomberg Riskless Return Ranking shows that Raymond James produced the best risk-adjusted return of nine United States brokerages, banks and advisory firms since 2009.
– Paul Reilly, CEO, 2010 to present
In April 2012, they merged with Morgan Keegan & Company, creating one of the country's largest full-service wealth management and investment banking firms not headquartered in New York.
In 2012, Raymond James celebrated 50 years of taking a personal approach to long-term financial planning.
In 2012, the firm purchased the Canadian assets of Allied Irish Bank.
2013: Raymond James reaches its 100th consecutive quarter of profitability.1
2014: Raymond James reaches its 105th consecutive quarter of profitability.1
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 June 2016, it was listed as a Fortune 500 company for the first time.
In September 2016, the firm announced its acquisition of Deutsche Bank Wealth Management's US private client services unit, Alex Brown & Sons.
Contact your local Raymond James office for information and availability. © 2016 Raymond James Financial Services, Inc., member FINRA / SIPC
Continuing its tradition of giving back, Raymond James and its associates donated $49 million to charitable organizations in 2017, including $6+ million to the United Way and its partner agencies.
In 2017, Raymond James was named to the FORTUNE 500 list for the second year in a row.
*As of 3/31/2018 1Past performance is not indicative of future results.
As of the fiscal quarter ending September 30, 2021, the firm had delivered 135 consecutive quarters of profitability.
The information provided is for informational purposes only and is not a solicitation to buy or sell Raymond James Financial Stock.As of: 12/31/2021
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Raymond James Financial competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Morgan Stanley | 1935 | $3.0B | 68,097 | 1,133 |
| Citi | 1812 | $74.3B | 210,000 | 1,242 |
| Edward Jones | 1922 | $10.2B | 49,000 | 1,552 |
| Stifel Financial | 1890 | $49.8M | 7,100 | 141 |
| Legg Mason | 1899 | $2.9B | 3,059 | - |
| CME Group | 1848 | $6.1B | 4,500 | 40 |
| Prudential Retirement Insurance And Annuity Co | - | $57 | 41,671 | - |
| Apollo Global Management | 1990 | $3.6B | 1,600 | 44 |
| Primerica | 1977 | $602.0M | 2,104 | 65 |
| Prudential Financial | 1875 | $57.0B | 41,671 | 218 |
Raymond James Financial history FAQs
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Raymond James Financial may also be known as or be related to Raymond James, Raymond James & Associates, Inc., Raymond James Financial, Raymond James Financial Inc and Raymond James Financial, Inc.