Press Release

Release No. 0207-19
March 2, 2007

RAYMOND JAMES AMONG BUSINESSWEEK’S
“CUSTOMER SERVICE CHAMPS”

ST. PETERSBURG, Fla. – On newsstands this week, BusinessWeek’s March 5 issue ranks Raymond James Financial, Inc. (NYSE-RJF) No. 16 on its list of top 25 “client-pleasing brands” nationally. Using rankings from a national firm that measures customer satisfaction and quality, as well as customer surveys, Raymond James comes in ahead of such heavyweights as Porsche, Apple, Publix, Hertz and FedEx.

Since BusinessWeek was interested in measuring customer service, they used only the existing results related to what customers think about a company’s “processes” (its return policies or reservation procedures, for instance) and its “people” (examples are friendliness, and level of expertise). The magazine then surveyed 3,000 of its readers and asked them to nominate three companies they felt were best at providing customer service and three they felt were worst. If the brands that scored well were not part of the existing research, BusinessWeek then created its own questionnaire and surveyed at least 100 customers. Finally, they aggregated both sets of data establishing a “Service Score.” People scores were weighted higher than processes.

As BusinessWeek noted in their accompanying story, “providing great customer service is much more than just a job for the front lines or the call centers. It takes coordination from the top, bringing together people, management, technology, and processes to put customers’ needs first … making great customer service one of the few ways companies can distinguish themselves.” They also noted that many of the top 25 companies are privately held or family-run and view great customer service as a founding, fundamental principle. Raymond James is one of those companies that considers good customer service part of its DNA.

“Like many firms that depend upon the goodwill of customers, we have a formalized program that keeps customer service top of mind,” said Raymond James President and COO, Chet Helck, “We call it Service 1st^SM – and we believe it is much more than a slogan.”

“One example: We were among the first to introduce a client ‘bill of rights’ in the financial services industry, a comprehensive document that details what clients can expect from us … and what we expect from them. This is a practice emulated by others in the industry today.”

“Another way we distinguish ourselves from our peers is in our recruiting of advisors. Financial advisors are the front lines of client service – they know their clients and can best serve them when they have the freedom to run their practice in the way that best suits their client base. That’s why even our approach to recruiting is client-focused.  We offer five different ways for a financial advisor to affiliate with us. Not one, not two but FIVE, because we recognize not everyone fits the same mold or wants to run their business the same way … and that satisfied advisors have satisfied clients.”

BusinesWeek also noted that despite their differences, most of the companies on their Top 25 list share a few important traits. They emphasize employee loyalty as much as customer loyalty, keeping their people happy with generous benefits and perks.

Interestingly, both Raymond James and Publix Supermarkets – the only Florida companies on the BusinessWeek list – also topped a recent St. Petersburg Times survey of the most admired companies in the Tampa Bay area.

“We are honored to be included with such recognized customer service leaders as USAA, Nordstrom’s and Southwest,” added Helck, “This ranking will keep us focused on maintaining our high standards of excellence when it comes to serving our clients.”

About Raymond James Financial

Raymond James Financial (NYSE-RJF) is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three principle wholly owned broker/dealers, Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd. have more than 4,600 financial advisors serving 1.6 million accounts in 2,200 locations throughout the United States, Canada  and overseas. In addition, total client assets are approximately $195 billion, of which approximately $34.6 billion are managed by the firm’s asset management subsidiaries.

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For additional information, please contact Anthea Penrose, PR Manager at 727-567-5283.
Please visit the Raymond James Press Center at raymondjames.com/media