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Raymond James Financial Services

Raymond James Financial Services (“RJFS”) is a broker-dealer headquartered in St. Petersburg, Florida. Its origins date back to 1962 when Bob James incorporated the business as Robert A. James Investments.

    • Then, in 1964, Edward Raymond sold Raymond and Associates to Bob James, with the agreement that Bob will name the new firm Raymond James & Associates.

    • In 1968, Investment Management & Research, Inc. (IM&R), which would later become a part of RJFS, was formed.

    • In 1980, Robert Thomas Securities is formed as an independent broker-dealer.

    • In 1983 the firm went public.

    • In 1999, IM&R and Robert Thomas Securities merged to form RJFS.

The firm, which is owned by Raymond James Financial, Inc., has approximately 8,700 financial advisors in the U.S., Canada, and overseas. As of the end of 2022, it has approximately $1.17T in client assets. Its brokers are licensed in all 50 states as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

Financial Misconduct at Raymond James Financial Services

RJFS is licensed by the Financial Industry Regulatory Authority (FINRA), and as such is legally obligated to ensure its brokers are acting lawfully in the interest of their investors. If a client suffers losses as a result of negligent behavior or misconduct from a broker, then the firm may be held legally responsible to repay the damages.

RJFS and brokers backed by RJFS have a long history of misconduct. According to FINRA’s BrokerCheck report, the firm has 160 disclosures (84 regulatory events and 76 arbitrations).

In August 2022, RJFS was ordered to pay $67,917.01 after a FINRA arbitration panel found that the firm was guilty of breach of fiduciary duty; churning; fraud; misrepresentation; omission of facts; suitability; unauthorized trading; violation of Blue Sky laws; breach of contract; failure to supervise; margin calls; and negligence.

In October 2022, FINRA initiated a claim against RJFS, finding that the firm failed to have a qualified and registered principal authorize changes to the account name or designation on more than 7,500 equity orders. The unapproved changes resulted in customer losses, for one customer in the approximate amount of $100,000. RJFS was censured and fined $800,000 and ordered to pay $48,574.79 plus interest, in restitution to its customers.

Wondering If You Have a Claim? Contact Our Firm Now! Meyer Wilson reclaimed $350 million for the victims of investment fraud or misconduct. Our attorneys are experienced in going up against the largest investment firms, such as Raymond James Financial Services, and our track record affirms our resources and expertise. Meyer Wilson has represented clients nationwide and internationally, in state and federal courts, and in securities arbitration through FINRA and the American Arbitration Association (AAA). As an investor, you have a right to recover investments lost through unethical behavior or decisions made against your interests.

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945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
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305 W. Nationwide Blvd
Columbus, OH 43215
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New Orleans, LA 70130
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Los Angeles, CA 90067
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Warrensville Heights, OH 44128
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41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
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