Raymond James review 2025
This detailed Raymond James review explores its investment services, fees, and client feedback to help you decide whether Raymond James is a good investment firm for your financial needs.
Raymond James: Who are they?
Founded in 1962 by Robert A. James, Raymond James Financial is a diversified financial services company headquartered in St. Petersburg, Florida.
With over $1.3 trillion in client assets, the firm has grown into one of the most recognized names in investment management and private wealth advisory.
The company’s philosophy is built on long-term thinking, client-first advice, and a decentralized structure that empowers financial advisors to tailor solutions to their clients’ needs.
Raymond James has a strong footprint across the United States and Canada and is publicly traded on the NYSE under the ticker symbol RJF.
What does Raymond James do?
Raymond James is a full-service wealth management and investment firm, offering:
Financial planning: Retirement, estate, education, and tax strategies
Investment management: Custom portfolios, mutual funds, ETFs, bonds
Private wealth service: For clients with over $1 million in investable assets
Corporate services: Investment banking, capital markets, mergers and acquisitions
Banking & lending solutions: Mortgages, securities-based lending, business loans
Whether you’re planning for retirement or managing a large estate, Raymond James provides a broad and customized suite of financial solutions.
What are the different types of financial advisors at Raymond James?
The firm operates using a hybrid advisor model:
Independent financial advisors: Operate under the Raymond James brand but run their own businesses.
Employee advisors: Based in Raymond James branches and salaried or commission-based.
RIA support services: For registered investment advisors using Raymond James infrastructure.
Advisors are compensated through a mix of asset-based fees and commissions, depending on the service provided and account structure.
This allows clients to choose between fee-based advisory or commission-per-transaction models.
Pros and cons of Raymond James
When choosing a financial advisory firm, you need to weigh up all of the advantages and disadvantages.
Here are just some of the pros and cons of Raymond James to help you make a decision.
Pros of Raymond James:
Strong reputation with decades of experience
Custom investment strategies tailored to client goals
High level of advisor independence and autonomy
Deep bench of services for high-net-worth clients
Full banking services under one roof
Cons of Raymond James:
Fees can be higher than discount brokerages
Investment minimums may exclude smaller investors
Advisor experience varies by office
Technology tools slightly lag behind robo-focused platforms
Raymond James minimum investment requirements
Raymond James offers a range of investment programs with varying minimum requirements:
Low-minimum advisory programs: Some advisory accounts, particularly those with wrap fees, may require as little as $5,000 to get started, according to MagnifyMoney.
Standard advisory services: Other investment programs typically have minimums ranging from $25,000 to $2 million, depending on the specific service and the client's financial profile.
Nautilus private wealth: This division caters to high-net-worth individuals, requiring a minimum net worth of $1 million for new clients.
Investment advisory division: For ultra-high-net-worth clients, this division sets a much higher bar, requiring at least $50 million in assets under management, as reported by Investment News.
| Program / Division | Minimum Requirement |
|---|---|
| Program / Division | Minimum Requirement |
| Low-Minimum Advisory Programs | $5,000 |
| Standard Advisory Services | $25,000 – $2 million |
| Nautilus Private Wealth | $1 million net worth |
| Investment Advisory Division | $50 million AUM |
Raymond James fees and costs
Raymond James offers a comprehensive fee structure tailored to various client needs and account types.
For fee-based advisory accounts, such as those under the Ambassador and Freedom programs, clients are charged an annualized fee based on assets under management (AUM).
The fee tiers are as follows
Up to $1 million: 2.25%
$1 million up to $2 million: 2.00%
$2 million up to $5 million: 1.75%
$5 million up to $10 million: 1.50%
$10 million and above: 1.25%
These fees are billed quarterly and encompass portfolio management, financial planning, and advisory services.
Clients opting for fee-only financial planning services, without asset custody, are billed hourly, typically between $200 and $300 per hour, with a retainer due upon engagement.
Additionally, Raymond James imposes various account and processing fees, such as annual IRA fees ($75), account maintenance fees ($75–$150 depending on account value), and transaction-related charges like a $5.95 handling fee per trade.
It's important to note that advisory fees are separate from internal expenses of investment products like mutual funds and ETFs, which clients should consider when evaluating the total cost of investment.
Raymond James services for high-net-worth clients
For individuals or families with $1 million+ in investable assets, Raymond James offers a dedicated suite of services, including:
Private Wealth Advisory
Estate Planning Strategies
Tax Optimization Services
Philanthropic Planning
Family Office Services
These services are coordinated by senior advisors and often include collaboration with CPAs and attorneys to ensure a multi-generational wealth strategy is in place.
What investment options does Raymond James provide?
Raymond James offers one of the broadest investment menus in the industry.
Clients can access:
Individual Stocks and Bonds
Mutual Funds and ETFs
Alternative Investments (REITs, private equity, hedge funds)
Sustainable/ESG Portfolios
Structured Notes and Annuities
Whether you’re a conservative investor seeking income or a growth investor looking for equity exposure, Raymond James has a strategy for you.
What are clients saying about Raymond James?
Client feedback on Raymond James varies across platforms, with some praising the personalized service and others raising concerns about fees or responsiveness.
Here's a snapshot from major review sources:
Trustpilot: Raymond James has limited reviews on Trustpilot, and the feedback is mixed. Some users mention delays in account servicing or difficulty navigating online tools, while others appreciate the firm's long-standing presence and range of investment offerings.
Better Business Bureau (BBB): Raymond James & Associates holds a B rating from the BBB. Client feedback highlights a few challenges around customer service and fund transfers, though some users note successful resolutions after follow-up.
Reddit (Personal Finance Forums): On Reddit, clients often discuss Raymond James in the context of its fee structure. While some feel the advisory fees (typically 1–2%) are on the higher end, others acknowledge that the firm offers a hands-on, personalized experience that may suit clients seeking full-service wealth management. A few users recommend comparing costs with lower-fee options to see what best fits individual goals.
Raymond James vs. Merrill Lynch, UBS, and Fidelity
| Firm | Best For | Fee Structure | Unique Features |
|---|---|---|---|
| Firm | Best For | Fee Structure | Unique Features |
| Raymond James | Personalized service, retirees | 1%+ AUM, planning fees | Hybrid advisor model, banking services |
| Merrill Lynch | HNW individuals, legacy clients | Tiered AUM + commission | Strong tech, BofA integration |
| UBS | Ultra HNW clients | Custom pricing | Global investment capabilities |
| Fidelity | All investors | Low cost, no commissions | DIY tools, robo-advisor, active trader options |
Raymond James strikes a balance between customized service and advisor flexibility, making it attractive for clients who value personal relationships over digital tools.
Who should consider Raymond James?
Raymond James is best for:
Retirees needing personalized retirement income strategies
High-net-worth families seeking holistic estate and tax planning
Business owners who need lending and investment solutions
Investors seeking a long-term relationship with a trusted advisor
It may not be the best fit for:
Day traders or highly active investors
Budget-conscious investors focused solely on fees
DIY investors who prefer app-only platforms
What is Raymond James’ technology and client portal experience like?
Raymond James has invested heavily in its Client Access portal, which allows users to:
View balances and investment performance
Access documents and tax forms
Communicate securely with their advisor
Use budgeting and financial planning tools
The mobile app is highly rated, though it may lack some of the polish of newer fintech apps.
The platform prioritizes security and reliability over advanced trading tools.
How does Raymond James ensure security and regulatory compliance?
Raymond James is:
A member of FINRA and SIPC, meaning client accounts are insured up to $500,000
Regulated by the SEC and state financial authorities
Committed to cybersecurity through 256-bit encryption, multi-factor authentication, and fraud monitoring
Is Raymond James worth it?
Raymond James is a reputable and trustworthy investment firm, ideal for clients who prioritize personalized service, comprehensive planning, and long-term financial relationships.
While fees are higher than robo-advisors or discount brokers, clients gain access to deep expertise, robust services, and a strong advisory network.
It's particularly well-suited for retirees, wealthy families, and those navigating complex financial situations.
FAQs about Raymond James
1. Is Raymond James a fiduciary?
Yes, Raymond James advisors act as fiduciaries when managing advisory accounts. Always confirm your advisor’s specific duties.
2. What is the minimum investment at Raymond James?
Minimums vary but often start around $25,000–$50,000. Higher levels may be required for private wealth services.
3. Is Raymond James a good investment firm?
Yes. Raymond James is known for personalized service, experienced advisors, and a strong reputation in wealth management.
4. What products does Raymond James offer?
Stocks, bonds, ETFs, mutual funds, alternatives, annuities, and more.
5. Can I access my account online?
Yes. Raymond James provides a secure online portal and mobile app for account management.
6. Is Raymond James better than Merrill Lynch?
Both are reputable. Raymond James is more flexible for independent advisors, while Merrill Lynch offers broader tech and banking integration with Bank of America.
Writers
Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.