Q2 2020 Raymond James Financial Inc Earnings Call
Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership associated with Raymond James Financial Services, Inc. (member FINRA/SIPC), announced today that Liana Poodiack, CFP® has been named to Forbes 2020 Top Women Wealth Advisors List, a special report in Forbes which was released on April 21st.
Raymond James (RJF) records improvement in revenues in second-quarter fiscal 2020 (ended Mar 31). However, lower asset balance and higher expenses hurt results to some extent.
(Bloomberg) -- The “investor class” will have to pay for the ballooning debt stemming from the Covid-19 crisis, according to Jim Millstein, the co-chairman of Guggenheim Securities who led restructuring efforts at the U.S. Treasury Department after the financial crisis.“There is one clear implication: The era of tax cuts is over,” Millstein said Monday in a Bloomberg Television interview. It’s “inevitable” that the wealthy will face greater taxes, he said. “People who have been fortunate enough to be able to make significant incomes are going to have to make a greater contribution.”Read more: U.S. Debt, Deficit Forecast to Hit Levels Not Seen Since WWIIThe restructuring banker, whose firm is working with companies in the travel industry burned by the pandemic, said he’s concerned about businesses taking on more debt while still unable to generate revenue during the economic lockdown.He said unprecedented support by the U.S. Federal Reserve to backstop credit markets has benefited investors in a way they’ll eventually have to pay back.“That kind of support for the investor class is ultimately something the investor class is ultimately going to have to pay for,” Millstein said. “If we’re really creating a backstop against credit losses then, you know, eventually, if this government is doing that much for that class, then that class is going to have to start paying for it.”He said support for personal income is the best method of intervention, through direct payments to individuals.Paul Reilly, chief executive officer of Raymond James Financial Inc., cautioned that taxing the wealthiest isn’t that straightforward.”Some have tried to tax the 1%, but truthfully there’s not enough money there to tax the 1%,” James said. “Given these economic levels, if you really started repaying debt, taxes would have to go up really across the board.”(Updates with comment from Raymond James CEO in last paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Raymond James Enhances Diversified Financials Coverage With Addition of Stephen Boland to the Canadian Equity Research Team
Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership associated with Raymond James Financial Services, Inc. (member FINRA/SIPC), announced today that Keith Barberis, CFP® has been appointed to the Certified Financial Planner (CFP) Board's Disciplinary and Ethics Commission.
Concurrent, a partnership of elite independent advisors continues to be on track with its plans for aggressive growth this year with the acquisition of the WealthEngage team, a Miami-based advisory practice for newly independent advisors. Founded by Eddy Augsten, the addition of WealthEngage to Concurrent's roster will bring decades of experience in investment management and practice management to its common vision of accelerating business growth for independent advisors by transforming the client experience and driving growth.
While rise in client activity is likely to have aided Raymond James' (RJF) trading revenues in second-quarter fiscal 2020, lower rates might have hurt interest income.
Dividend fund adds to Boeing, makes new investment in Raymond James Financial Continue reading...
Raymond James Ltd. Announces Agreement to Acquire Oak Trust to Add Trust Services To Its Full Service Offering for Clients
SIMON Markets LLC and Raymond James Launch New Strategic Partnership for Annuities
Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership associated with Raymond James Financial Services, Inc. (member FINRA/SIPC), announced today that Eric Beiley has been named to the Financial Times 400 Top Financial Advisors List, a special report in the Financial Times which was released on April 16th.
Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership associated with Raymond James Financial Services, Inc. (member FINRA/SIPC), is pleased to announce their newest office in Norfolk, welcoming the Nottingham Wealth Management Group along with Tommy Leeman and Karen Bittenbender.
With us today are Paul Reilly, Chairman and Chief Executive Officer; and Paul Shoukry, Chief Financial Officer. The presentation being reviewed this morning is available on Raymond James' Investor Relations website. Forward-looking statements include, but are not limited to, information concerning future strategic objectives, business prospects, financial results, anticipated results of litigation and regulatory development, impacts of the COVID-19 pandemic or general economic conditions.
While coronavirus forced the Tampa Bay Business Journal to postpone its Top Corporate Counsel awards, this year’s honorees are featured in this week’s print edition. This year’s awards honor 20 corporate counsel including lifetime achievement and rising star recipients.
Raymond James has appointed Alastair Rogers as managing director in the Diversified Industrials sector of its European Investment Banking business. Rogers will join the organisation's rapidly growing practice in London.
Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership associated with Raymond James Financial Services, Inc. (member FINRA/SIPC), today announced that Anka Vidacic has been selected as a winner of the Outstanding Branch Professional Award.
KlaymanToskes ("KT"), www.klaymantoskes.com, announced today that it is investigating damages sustained by investors with Raymond James Financial (NYSE:RJF) ("Raymond James") accounts who were forced to sell securities due to margin calls. The investigation focuses on Raymond James’s potential negligence and mismanagement of leveraged accounts. Recently, investors quickly saw the major stock indices lose significant value after closing on Friday, February 21, 2020, at near 52-week highs. The market volatility has been precipitated by COVID-19. Many investment portfolios, like the stock indices, have also seen tremendous declines, leaving leveraged accounts especially at risk of margin calls.
Paul Reilly has been the CEO of Raymond James Financial, Inc. (NYSE:RJF) since 2010. This report will, first, examine...
Members include executives from Raymond James Financial, Lockheed Martin and other corporations across Florida.