Press Release

September 30, 2008

RAYMOND JAMES RANKS HIGHEST IN A TIE
IN J.D. POWER AND ASSOCIATES
2008 FINANCIAL ADVISOR SATISFACTION STUDY^SM

ST. PETERSBURG, Fla. – Raymond James Financial, Inc. (NYSE-RJF) ranked highest in employee advisor satisfaction among financial investment firms in a tie according to the J.D. Power and Associates 2008 Financial Advisor Satisfaction Study ^SM, the results of which were released today.

The study measures overall satisfaction of financial advisors on eight key factors that drive satisfaction. In order of importance they are: firm performance; compensation; administrative and compliance support; internal operational support/people; job duties; products and offerings; problem resolution; and work environment.

Raymond James and Edward Jones, with whom Raymond James tied, exceeded all other competitors with a composite score of 879 on a 1,000-point scale, receiving the highest ratings from employee advisors in the factors for firm performance, compensation, job duties, and products and offerings.

“We are extremely pleased to have received this recognition from our advisors,” said Raymond James President and COO Chet Helck. “Following on the heels of our own internal advisor satisfaction study, these results validate our own findings.

“Further, this recognition combined with the earlier J.D. Power and Associates ranking of our firm as highest in investor satisfaction, reaffirms Raymond James’ commitment to providing advisors a stable, conservatively-managed firm in which both their interests and their clients’ needs are put first.

“These are turbulent times,” added Helck, “when each day brings with it a new financial crisis, another bank failing or firm being acquired – so it’s no surprise to those of us who have been around a while that Raymond James is now being recognized for its consistent, client-driven, advisor-focused environment. We hear it every day from advisors wanting to affiliate with us and this study’s findings merely reinforce that momentum.”

The study is based on 3,124 total responses from advisors at 19 investment firms and measures employee advisor satisfaction of investment firms. Proprietary study results are based on experiences and perceptions of advisors surveyed in May and June 2008.

About Raymond James
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.) and Raymond James Investment Services Limited, a majority-owned independent contractor subsidiary in the United Kingdom, have a total of more than 4,900 financial advisors serving approximately 1.8 million accounts in 2,200 locations throughout the United States, Canada and overseas. In addition, total client assets are currently $211 billion, of which approximately $36.1 billion are managed by the firm’s asset management subsidiaries. The firm’s website is www.raymondjames.com

About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The firm’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on cell phone ratings, car reviews and ratings, car insurance, health insurance and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.”

–30–
For more information, contact Anthea Penrose at 727-567-2824.
Please visit the Raymond James Press Center at raymondjames.com/media.