Press Releases

19 January, 2012

Raymond James Financial acquires the outstanding stake in Raymond James Investment Services from Killik & Co  

Raymond James Financial, Inc (RJF) the diversified financial services company headquartered in St Petersburg, Florida, USA, now owns 100% of UK subsidiary Raymond James Investment Services (RJIS) following the acquisition of Killik & Co’s 25% stake in the UK private client wealth management business.

Established in 2001 as a joint venture with Killik & Co, RJIS is a full service private client firm, providing an open architecture administration platform, client reporting, research tools and technology solutions to independent wealth managers, whether they operate under RJIS’ authorisation structure or are directly authorised with the FSA. The UK business currently supports 68 independent practices, which represent a mix of private client investment managers, stockbrokers and investment focused financial planners located throughout the UK. As of 30 November 2011, RJIS serviced over 16,000 client accounts representing total assets of £2.57 billion (US$4 billion).

RJF was founded in 1962 and has been a public company since 1983. Approximately 64% of the firm’s revenue is generated by the Private Client Group, which is engaged in wealth management 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 has over 5,400 wealth managers located in 2,400 offices in the US, Canada, the UK and elsewhere overseas. These wealth managers service more than 2 million client accounts representing total assets under control of approximately $268 billion.

Peter Moores, CEO of Raymond James Investment Services said:

“The acquisition is a very positive endorsement from our parent company, highlighting our success in the UK and our ambitions to grow the business further. 2011 was a busy year for RJIS, with significant investments in infrastructure, technology and staff, all part of our on-going commitment to offering the best possible services and solutions to wealth managers and their clients. We will continue to lead the way in best practice for wealth management and platforms.”

Graham Neale, Partner of Killik & Co, resigned from the board of Raymond James Investment Services upon the sale of Killik & Co.’s stake.

Graham Neale, Partner of Killik & Co, said:

“We are very pleased with the progress RJIS has made since we commenced our joint venture with RJF over 10 years ago. We wish them well for the future.”

Notes to the Editors

Press Enquiries for Raymond James Investment Services

Peregrine Communications

Karen Wagg
Tel 0203 178 4890
Karen.Wagg@peregrinecommunications.com

Paul Wynne
Tel 020 3178 6871
Paul.Wynne@peregrinecommunications.com

High resolution jpeg image is available for Peter Moores on request

About Raymond James Investment Services Limited (RJIS)

Raymond James provides a full support package to independent wealth managers who want the freedom to own and operate their own boutique businesses whilst having the backing of a recognised leader in private client investment management. By offering wealth managers access to a comprehensive selection of products and tools, in addition to robust compliance and supervision services where appropriate, we enable them to meet the individual needs of their clients in the most cost effective manner. We do not centrally manufacture or distribute proprietary products in the UK; rather we offer wealth managers access to a broad range of assets and tax wrappers, ensuring there is no conflict to their independence.

Raymond James Investment Services offer three business models, including Independent Contracting, Professional Partner and the Wrap Platform. In our first two business models, we provide the regulatory umbrella, which means we can help individuals set up a boutique wealth management/investment management practice within as little as 30 – 90 days, with the individuals authorised with the FSA through Raymond James. The Wrap Platform model is right for firms that already are authorised with the FSA. Wealth managers can move between business models as their needs evolve and in all cases, the wealth managers run commercially independent practices.

Raymond James Investment Services is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority. Its Registered Office is at 77 Cornhill, London EC3V 3QQ. Registered in England and Wales No. 3779657. www.rjis.co.uk

Press Enquiries for Killik & Co

Daniel Aitkenhead
Head of Communications
Killik & Co
Tel 0207 337 0529
Daniel.aitkenhead@killik.com

About Killik & Co

• As one of the UK's leading independent financial services groups, Killik & Co provide financial planning, investment management and stock broking services.
• Additionally, the Firm offers a range of corporate services that provide share scheme administration and executive counselling.
• The Killik & Co partnership was founded in 1989 and operates from nine branch offices in, and around, Greater London and one international branch in Dubai. It looks after approximately £2.7 billion on behalf of over 25,000 private clients.
• Killik & Co is a trading name of Killik & Co LLP, a limited liability partnership authorised and regulated by the Financial Services Authority and a member of the London Stock Exchange. Registered in England and Wales No. OC325132 Registered office: 46 Grosvenor Street, London W1K 3HN. A list of Partners and branch offices is available upon request. To telephone all offices please call 020 7337 0400 or see the website at www.killik.com