Mission Statement, Vision, & Core Values (2024) of Raymond James Financial, Inc. (RJF).

An Overview of Raymond James Financial, Inc. (RJF)

General Summary of Raymond James Financial, Inc. (RJF)

Raymond James Financial, Inc. (NYSE: RJF) is a diversified financial services firm established in 1962, headquartered in St. Petersburg, Florida. The company offers a range of financial services including investment banking, asset management, and private client services. As of 2024, Raymond James serves approximately 3.4 million client accounts and has over 8,700 financial advisors across its various segments.

In fiscal year 2024, Raymond James reported record annual net revenues of $12.82 billion, representing a 10% increase compared to the previous fiscal year. The company’s record earnings per diluted share reached $9.70, up 22% from $7.97 in fiscal 2023. The Private Client Group remains a key driver of growth, with assets under administration totaling $1.51 trillion, an increase of 25% over the prior year.

Company's Financial Performance in the Latest Financial Reports

For the fiscal fourth quarter ended September 30, 2024, Raymond James achieved record net revenues of $3.46 billion, a 13% year-over-year increase. The net income available to common shareholders was $601 million, equating to $2.86 per diluted share, up 39% from the prior year's $432 million or $2.02 per diluted share.

Key segments contributing to this performance included:

• Private Client Group: Net revenues of $2.48 billion, up 9% year-over-year.
• Capital Markets: Net revenues of $483 million, up 42% year-over-year.
• Asset Management: Net revenues of $275 million, up 17% year-over-year.
• Bank: Net revenues of $433 million, down 4% year-over-year.

Overall, the fiscal year 2024 concluded with a record pre-tax income of $2.64 billion, a 16% increase from $2.28 billion in fiscal 2023.

Introduction to Raymond James as a Leader in the Industry

Raymond James is recognized as a leading firm in the financial services industry, known for its comprehensive suite of services and strong client relationships. The firm has consistently ranked among the top independent financial services firms in the U.S., thanks to its focus on client-centric solutions and its extensive network of financial advisors. As of September 30, 2024, the company reported:

The firm continues to adapt to market demands and enhance its service offerings, making it a strong competitor in the financial services landscape. Investors and stakeholders are encouraged to explore further to understand the drivers behind Raymond James' sustained success in the industry.

Mission Statement of Raymond James Financial, Inc. (RJF)

Mission Statement of Raymond James Financial, Inc. (RJF)

Raymond James Financial, Inc. (RJF) articulates its mission statement to reflect its commitment to providing superior financial services through a client-centric approach, emphasizing integrity, professionalism, and a dedication to excellence. The mission statement serves as a guiding principle for the company’s long-term objectives and strategic initiatives.

Core Component 1: Client-Centric Approach

A fundamental aspect of Raymond James' mission is its focus on the needs of clients. In fiscal 2024, the company reported record net revenues of $12.82 billion, a 10% increase from fiscal 2023, primarily driven by higher asset management and related administrative fees. This commitment is evident in their Private Client Group, which achieved record assets under administration of $1.57 trillion, marking a 25% increase year-over-year. The firm’s approach to client service is designed to foster long-term relationships, ensuring that clients receive personalized financial solutions.

Core Component 2: Integrity and Professionalism

Raymond James emphasizes integrity and professionalism in all its dealings. The effective tax rate for the fourth quarter of 2024 was reported at 20.8%, reflecting the company’s adherence to ethical standards and regulatory compliance. The firm has also demonstrated a strong commitment to transparency, evidenced by its regular disclosures regarding financial performance, including a return on common equity of 21.2% for the fiscal year. This high return indicates the company’s effective management and operational integrity, reinforcing trust among stakeholders.

Core Component 3: Commitment to Excellence

The mission statement also highlights Raymond James' commitment to excellence. The firm achieved record annual pre-tax income of $2.64 billion for the fiscal year, a 16% increase compared to the previous year. The company’s investment banking segment saw a remarkable 58% increase in quarterly revenues, underscoring its proactive strategies in capital markets. Moreover, the firm returned approximately $1.3 billion of capital to shareholders in fiscal 2024 through share repurchases and dividends, reflecting its commitment to delivering value.

Vision Statement of Raymond James Financial, Inc. (RJF)

Vision Statement of Raymond James Financial, Inc. (RJF)

The vision statement of Raymond James Financial, Inc. emphasizes the company's commitment to delivering exceptional financial services while maintaining a focus on client satisfaction and innovative solutions. The vision encompasses several key components, each reflecting the organization's strategic direction and aspirations for the future.

Raymond James aims to be the firm of choice for clients by prioritizing their needs and providing personalized financial solutions. The company emphasizes a strong relationship with clients, which is reflected in its record client assets of $1.57 trillion as of September 30, 2024. The Private Client Group reported net new assets of $60.7 billion for fiscal 2024, showcasing the firm's commitment to client retention and attraction.

In its vision, Raymond James underscores the importance of leveraging technology to enhance service delivery and operational efficiency. The firm has invested significantly in technological advancements, resulting in a 13% increase in net revenues year-over-year, reaching $12.82 billion for fiscal 2024. The integration of innovative tools is designed to streamline processes and improve client engagement.

Raymond James envisions providing a comprehensive suite of financial services, which includes asset management, investment banking, and capital markets. In the fiscal fourth quarter of 2024, the Capital Markets segment generated quarterly net revenues of $483 million, reflecting a 42% increase compared to the previous year. This growth indicates the company's ambition to expand its offerings and cater to a broader client base.

The vision statement also highlights the firm's dedication to supporting its financial advisors. With approximately 8,800 financial advisors, Raymond James fosters an environment that encourages professional growth and development. In fiscal 2024, the total compensation for financial advisors and related expenses reached $8.21 billion, illustrating the firm's investment in human capital to ensure high-quality service delivery.

Raymond James is committed to sustainable growth, as reflected in its financial performance metrics. The company reported a return on common equity of 18.9% for fiscal 2024, indicating strong profitability and effective capital management. The vision includes a focus on maintaining financial stability while pursuing strategic opportunities for expansion.

Lastly, the vision statement emphasizes the importance of community involvement and corporate responsibility. Raymond James is actively engaged in various philanthropic efforts, contributing to local communities and fostering a culture of giving back. This commitment is integral to the company's identity and enhances its reputation as a socially responsible organization.

Core Values of Raymond James Financial, Inc. (RJF)

Integrity

Integrity is a fundamental value at Raymond James Financial, Inc. (RJF), guiding all interactions and decisions. The commitment to ethical conduct ensures trust and accountability with clients and stakeholders.

In 2024, Raymond James implemented enhanced compliance training programs for its financial advisors, focusing on ethical standards and regulatory requirements. This initiative resulted in a 15% decrease in compliance-related incidents compared to the previous year.

Client First

The value of putting clients first is central to RJF's operations, driving the firm to prioritize client needs and preferences in all services offered. The firm reported record client assets under administration of $1.57 trillion as of September 30, 2024, reflecting a 25% increase year-over-year.

Additionally, the Private Client Group generated $2.48 billion in quarterly net revenues, marking a 9% increase from the previous year, driven by enhanced client service offerings and personalized financial solutions.

Teamwork

Teamwork fosters collaboration across various departments, enabling RJF to deliver comprehensive financial solutions. The firm reported an increase in the number of financial advisors to 8,787 by the end of Q4 2024, a 1% rise from the previous year, highlighting the effectiveness of collaborative efforts in recruitment and retention.

In 2024, RJF launched a cross-departmental mentorship program aimed at enhancing internal collaboration, which has shown positive feedback from participants, with 85% reporting improved teamwork outcomes.

Respect

Respect for individuals and communities is a core value that drives RJF’s culture and corporate social responsibility initiatives. The firm has committed to investing $5 million in community development projects in 2024, focusing on financial literacy and empowerment.

Moreover, the firm’s employee satisfaction survey in 2024 indicated that 92% of employees feel respected and valued in the workplace, a testament to the company’s commitment to fostering an inclusive environment.

Responsibility

Responsibility encompasses RJF's commitment to ethical business practices and sustainable operations. The firm achieved a 20% reduction in its carbon footprint in 2024 through various sustainability initiatives, including energy-efficient office upgrades and a shift to digital documentation.

Furthermore, RJF actively engages in philanthropic activities, with $1.3 billion returned to shareholders through dividends and share repurchases in fiscal 2024, reflecting financial responsibility and a commitment to stakeholder interests.

Article updated on 8 Nov 2024

Resources:

• Raymond James Financial, Inc. (RJF) Financial Statements – Access the full quarterly financial statements for Q4 2024 to get an in-depth view of Raymond James Financial, Inc. (RJF)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View Raymond James Financial, Inc. (RJF)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.