Raymond James Invests in Service Excellence with Proprietary Generative AI Search

Rhea-AI Summary

Raymond James has launched its proprietary AI Search technology, powered by generative artificial intelligence, to enhance service excellence. The system enables financial advisors and associates to interact with the firm's internal knowledge base using natural language queries, delivering precise information efficiently.

According to Stuart Feld, chief artificial intelligence officer, the technology is integrated into existing knowledge centers and focuses on three key pillars: data-driven client advice insights, enhanced service models, and secure applications. The system includes human checkpoints and a real-time feedback mechanism to ensure reliability.

Built in-house for greater transparency and flexibility, the AI Search technology is part of Raymond James' annual $975 million technology investment aimed at improving advisor-client relationships.

Positive

• Significant technology investment of $975 million annually
• In-house development provides better control and transparency
• Integration with existing systems reduces adoption barriers
• Implementation of real-time feedback system for quality control

Negative

• Acknowledged limitations in AI model accuracy
• Requires continuous human oversight and checkpoints

News Market Reaction

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+0.97% News Effect

On the day this news was published, RJF gained 0.97%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

ST. PETERSBURG, Fla., April 17, 2025 (GLOBE NEWSWIRE) -- Raymond James continues its investment in artificial intelligence as a crucial component of service excellence with the launch of its proprietary AI Search technology. Powered by generative artificial intelligence, AI Search enables both financial advisors and associates to ask intuitive, natural language questions to the firm’s vast internal knowledge base and receive precise, tailored information in return, according to Stuart Feld, newly appointed chief artificial intelligence officer.

“Part of our commitment to advisors is to invest in innovation that will enhance the firm’s already industry-leading service levels and return more of their most precious asset to them – time. AI Search reduces time spent scanning search results into a one-stop question and answer experience to get them to the correct information or professional contact on the first try. Importantly, the capability is integrated into the knowledge centers that advisors are already familiar with and reflexively turn to for information, rather than requiring adoption of a new system,” said Feld.

The firm’s strategic framework around AI innovation focuses on three key pillars: data-driven insights to support optimal client advice, enhanced service models and systems, and secure applications that are safe, reliable and scalable. To help ensure reliability, AI Search continuously seeks feedback through a real-time voting system on the quality of the results it provides.  

“It’s well-known that any AI model has its limitations. To reduce the potential for errors, our practice is to maintain human checkpoints on this and any future systems throughout development, implementation and maintenance. Additionally, the team’s depth of talent in the space has allowed us to build AI Search in-house, providing a high level of transparency and flexibility in the application,” Feld continued.

Raymond James technology is designed in close collaboration with financial advisors to provide a seamless platform of sophisticated digital tools that support the advisor-client relationship. The firm invests $975 million annually to continually improve technology for advisors and their clients.

About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets are $1.58 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.

Media Contact: Lauren Drobisch
Raymond James
727.567.2824

FAQ

What is Raymond James' new AI Search technology and how does it work?

Raymond James' AI Search is a proprietary generative AI system that allows financial advisors to query the firm's internal knowledge base using natural language, providing precise information and reducing search time.

How much does Raymond James (RJF) invest in technology annually?

Raymond James invests $975 million annually in technology improvements for advisors and their clients.

What are the three key pillars of Raymond James' AI strategy?

The three pillars are: data-driven insights for client advice, enhanced service models and systems, and secure, reliable, and scalable applications.

How does Raymond James ensure the reliability of its AI Search system?

The system includes human checkpoints throughout development and maintenance, real-time voting feedback on results, and is built in-house for better transparency and control.