Press Release

Release No. 0107-01
April 13, 2007

ONGOING FEEDBACK INTEGRAL
TO RAYMOND JAMES’
NEW CLIENT STATEMENTS

ST. PETERSBURG, Fla. – In its ongoing efforts to continuously improve service to both investor clients and financial advisors, Raymond James Financial (NYSE-RJF) recently introduced a completely redesigned client account statement – the first significant change in over a decade. As clients receive their third edition of the new statement this month, they will notice even further enhancements which are being made to ensure the clearest, most useful presentation of information possible.

“Open and direct communication is a hallmark of the Raymond James philosophy of client focused, advisor-driven service,” said Chet Helck, President and COO. “This new account statement is a prime example of our commitment to clarity in the way we present client information, as well as in our willingness to listen – and respond to – the input of clients and their advisors.”

After two and a half years of extensive research, testing and input from numerous sources, including many financial advisors, the new statements were mailed initially in February to all Raymond James advisors’ clients.

“Our research told us that 86 percent of clients only looked at the first page of their statements,” said Mike White, director of marketing, “so we knew we had to ensure that the summary page was clear and user-friendly. We now give our clients a quick snapshot of where they are with their investments and then lead them to exactly the right place for details using clean design, helpful graphics and navigational aids.

“The feedback from advisors and experts in the field was very positive and we expected our clients to really appreciate the improved clarity and depth of the information presented,” added White. “We are particularly excited about the best practice enhancements we have made to the fixed income and retirement sections.”

Among the new features are summary pages that highlight monthly changes, portfolio performance, and advisor contact information; consolidated disclosures that appear near the front of the statement, portfolio value and allocation, and, when appropriate, a new retirement account report detailing additions and distributions.

“As we received feedback to statements, we immediately made some adjustments,” said Helck. “While we believe we have designed a statement that is truly superior there were certain areas where we learned from our users after the launch. For example, advisor contact information was placed for maximum exposure, but we heard that the font style made it less noticeable than planned. We quickly addressed that issue, as well as others, and also recognize there will be further improvements over time.”

As part of the development process, significant resources were spent on training and familiarizing associates with the new statement. An electronic bulletin board for stakeholders was established for feedback, and specialized materials provided to the departments that interact with advisors and clients. An online tutorial for advisors was available, along with client-approved guides, e-mails and web banners to assist advisors alert their clients to the changes. Following the launch, updated “FAQs,” advisor surveys and an online client statement matrix were introduced to keep advisors up to date on the overall reactions, the timing of revisions and future enhancements.

“We are unaware of any other firm that has reached out to its advisors for such comprehensive feedback in such a detailed and consistent manner,” said White. “Not only did we involve them in the development of the statement, but just this month, we are surveying 1,500 of our advisors for additional feedback on the new statements and the enhancements.”

This level of advisor input has been well received, as reflected by Clifford J. Mulder, a Raymond James & Associates financial advisor in Kalamazoo, Michigan, in an e-mail to home office.

“This morning I was sent a survey asking for my input on the new client statements. … I just want you to realize how unique it is to have a firm that WANTS the input from the FAs.  While we are growing quickly, Raymond James is doing a great job of keeping a client/advisor focused culture as evidenced by this survey request.”

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 principal wholly owned broker/dealers, Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd., have more than 4,600 financial advisors serving approximately 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 $34.9 billion are managed by the firm’s asset management subsidiaries.

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