Raymond James Stock Price, News & Analysis

On September 27, 2021, Alex. Brown, a division of Raymond James, hosted the second Alex. Brown Invitational golf tournament at Manhattan Woods Golf Club, celebrating its 220-year partnership with clients. The event drew over 70 attendees and supported PGA REACH, a charitable foundation aimed at positively impacting youth and diverse populations through golf. President Haig Ariyan emphasized the firm's commitment to premier wealth management and community support.

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Raymond James has introduced the Practice Exchange, a new cloud-based succession planning platform tailored for financial advisors. The platform aims to simplify the succession and acquisition process, combining tools for M&A, buyer/seller matching, and educational resources. Key features include proprietary succession matching algorithms, enhanced valuation tools, and secure information sharing. The initiative reflects the firm’s commitment to adapt to the evolving needs of financial advisors, responding to increased demand for comprehensive succession solutions.

Steward Partners Global Advisory has expanded its network by welcoming O'Hare Wealth Management in Mequon, Wisconsin, marking its first office in the Upper Midwest. The team manages $420 million in assets and consists of five former Merrill Lynch professionals. This transition to independence allows them to enhance client services with increased resources from Steward and its partnerships with Raymond James and Goldman Sachs. The firm, ranked #24 on Barron's Top RIAs list in 2020, continues to focus on delivering a personalized client experience.

Concurrent, a partnership of elite independent advisors affiliated with Raymond James Financial Services, announced the onboarding of 10 new advisor teams managing over $1 billion in client assets. This growth continues despite the pandemic, indicating a robust strategy for 2021. The total assets under management (AUM) now exceed $11.5 billion. Founding partners emphasized that their model offers a combination of independence and extensive operational support, appealing to entrepreneurial advisors.

Raymond James and Managing Director Lisa Detanna have been added to the Cedars-Sinai Donor Honor Roll for their community support during the pandemic. In 2020, they donated $50,000 to enhance clinical training and aid Cedars-Sinai staff. Additionally, Raymond James Chairman Paul Reilly previously committed $2.3 million to various COVID-19 relief efforts across the US, Canada, and the UK. Detanna manages over $1.67 billion in client assets and emphasizes the firm’s culture of giving back to local communities.

Lisa Detanna, Managing Director at Raymond James, collaborates with Barron’s in Education to promote financial literacy during National Financial Literacy Month. This initiative provides no-cost educational resources, events, and real-world career guidance to UCLA students. Detanna emphasizes the importance of preparing young adults for financial stewardship, stating that wealth is often lost after three generations. With over 30 years in finance and managing $1.67 billion in client assets, she highlights the need for better financial education to improve societal wealth management.

On April 23, 2021, Steward Partners Holdings completed the acquisition of Umpqua Investments from Umpqua Holdings Corporation, rebranding it as Steward Partners Investment Solutions. This strategic move enhances Steward's presence in the Pacific Northwest, adding 22 financial advisors managing $3.4 billion in client assets and contributing $15 million in revenue. The acquisition raises Steward's total managed assets to over $22 billion, bolstering its goal of nationwide expansion.