Press Releases

14 July 2008

Raymond James Investment Services Announces Select Alliance Program with Morningstar

LONDON, July 14, 2008 - Raymond James Investment Services (RJIS) today announced an agreement to join Morningstar’s Select Alliance Program. Under the agreement RJIS will now offer its affiliates the Morningstar Adviser Workstation™, a powerful suite of investment research and analytical tools. The Adviser Workstation will be available to RJIS affiliates at a subsidised rate, providing tremendous value to advisers holding collectives within client portfolios.

RJIS has achieved rapid growth over the past several years, both in terms of affiliated offices and client assets. It has also seen its asset mix change from 70% securities and 30% collectives to a more balanced 50/50% mix, reflecting trends in the wealth management industry. The addition of Morningstar Adviser Workstation to the RJIS platform therefore represents a significant enhancement, enabling advisers to carry out extensive research across UK Registered Funds, Offshore Funds, Investment Trusts, and UK ETFs as well as UK unit-linked Life and Pension Funds.

Morningstar Adviser Workstation is a Web-based financial planning, portfolio management, and research tool that helps advisers design and review portfolios based on a client’s goals or risk tolerances. Its alert feature allows advisers to easily stay up-to-date on important changes to client portfolios and its proprietary Portfolio X-Ray™ tool enables users to identify stock overlap and ensure appropriate style and sector diversification. The tool also features reporting functionality aimed at helping advisers clearly communicate investment plans to clients.

“We are pleased to work with Morningstar to provide our affiliates with subsidised access to its Adviser Workstation,” notes Peter Moores, RJIS Chief Executive Officer. “Adviser Workstation has powerful functionality in terms of fund research and investor education tools. We are particularly impressed with the depth of collectives data, and look forward to further enhancements that are planned to incorporate equity data. We also like the resources that assist advisers to create Investor Policy Statements for their clients.”

Geoff Balzano, Chief Executive Officer of Morningstar UK commented, "We are delighted that Raymond James has joined the Select Alliance Program. Raymond James is making a significant investment in the program and we are confident that Adviser Workstation will deliver a solution to its affiliates that will not only enhance the investment data and analytical tools available to them, but will also provide reporting capabilities that will enhance their communication with individual investors."

For further information, please contact:

Cynthia Poole, Director of Relationship Management and Business Support
Raymond James Investment Services
Tel 020 7096 6751 or Cynthia.Poole@RaymondJames.com

Online information:
www.rjis.co.uk and www.adviserchoice.co.uk
or
Banita Radia, Associate Director, Media
Morningstar UK
Tel: 020 3107 0044 or banita.radia@morningstar.com

Online information:
www.morningstar.co.uk

Note to the editors

About Raymond James Investment Services Limited (RJIS)
Raymond James Investment Services Limited (RJIS) is the UK private client investment management arm of Raymond James Financial, Inc., a diversified financial services company headquartered in St. Petersburg, Florida, USA. The firm commenced operation in 2001 and now has over 6,800 client accounts and total assets of £1.139billion (US$2.2 billion). RJIS has 42 affiliated offices, representing experienced and well regarded private client stockbrokers, investment managers and wealth managers located throughout the UK.

RJIS was founded to service and support entrepreneurial investment managers in the UK, providing them a unique opportunity to own and operate their own business yet have the backing of a robust organisation. Committed to providing advisers with exceptional support, appropriate technology, robust client reporting and a host of resources and tools, RJIS now subsidises access to the Morningstar Adviser Workstation 3.0 as the latest addition to the comprehensive selection of products and services available on its platform today.

RJIS is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority. Registered Office: 77 Cornhill, London EC3V 3QQ.

About Raymond James Financial, Inc. (RJF)
Founded in 1962 and a public company since 1983, Raymond James Financial Inc. (RJF) is a diversified financial services holding company. Approximately 62% of the firm’s revenue is generated by the Private Client Group, which is engaged in financial planning and investment activities. In addition RJF has businesses focussed on equity and fixed income capital markets, asset management and banking. RJF’s stock is traded on the New York Stock Exchange (RJF). RJF currently has over 4,850 financial advisers located in 2,200 offices in the US, Canada, the UK and elsewhere overseas. These advisers service more than 1.7 million client accounts representing total assets under control of approximately $209 billion.

About Morningstar UK
Morningstar UK is the European headquarters of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research and data in North America, Europe, Asia, and Australia. The company offers an extensive line of internet, software and print-based products and services for UK individuals, financial advisers, and institutions. Morningstar tracks more than 28,000 investment funds available to UK investors, including life and pension funds and closed-ended investment trusts, and offers comprehensive fundamental data on all publicly listed companies in the UK, financial data and director biographies on more than 2,500 UK-quoted companies and 400,000 private companies. The company has two investor web sites in the UK, fund investing site www.morningstar.co.uk and stock research site www.hemscott.com.

In 2007 Morningstar acquired the fund information business of S&P, significantly strengthening its global database and offerings to investors. In 2008 the company acquired Hemscott’s data, media, and investor relations Web site businesses. Morningstar provides data on more than 270,000 investment offerings globally, including stocks, ETFs, hedge funds, offshore funds, and other similar vehicles. The company has more than 190 analysts around the world and provides independent research and analysis on more than 1,900 funds and ETFs as well as 2,000 stocks. Morningstar has operations in 18 countries and minority ownership positions in companies based in three other countries.