Jonathan Mack is joining Raymond James as a Co-Branch Principal, working alongside Harry Burnham. He will be based in their office in the heart of the City of London, ideally placed to cover their truly national client base.
With nearly a decade of experience since leaving University with a first-class degree, Jonathan is one of the most highly qualified Investment Managers of his generation and brings an additional skillset to the investment proposition as they look to inter-generational investing across families.
Since the launch of the branch in October 2019, there has been considerable interest in the proposition from clients as assets have grown significantly and Jonathan’s arrival will further broaden their close relationship with IFA’s.
The team will continue to grow in a structured manner as Investment Managers from around the industry are attracted by the boutique structure of personal service supported by the framework and resource of Raymond James.
On joining Raymond James, Jonathan said:
‘Joining Raymond James is an extremely exciting prospect. Having previously worked with Harry at Brewin Dolphin and JM Finn, I am confident our partnership will provide our clients with valuable guidance and rejuvenate our mutual outlook on investment opportunities. The depth of research available is invaluable as we navigate these volatile markets.’
Harry adds:
‘I am delighted that we are once again working together. Our shared ethos and passion for our clients’ welfare through our investment management services makes us stand out. This is facilitated by Raymond James’ structure and recently has allowed us to take cash weightings to historic highs and offer some protection through active management in these extraordinary times.’
If you would like to find out more information about how Raymond James supports wealth managers in opening and running their own independent wealth management branches, please click here.
Black MondayOn 19 October 1987, the stock markets experienced a dramatic plunge that prompted many firms to shut down their trading desks and turn off their phones to minimize internal losses. Raymond James refused to do the same. Our desks stayed open to help meet clients’ needs, resulting in our first and only unprofitable quarter since the firm went public in 1983. |
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Who was Raymond James?The Raymond in our name is actually from Edward Raymond, owner of a 15-employee mutual fund sales group, Raymond and Associates, along Florida’s west coast. He sold his company to Bob James on 15 July 1964, on condition that the surviving firm be called Raymond, James & Associates. Three days after the sale, Ed Raymond was involved in a near-fatal automobile accident and never joined the firm. Nonetheless, even after Raymond had passed away, Bob James insisted that his name remain on the door – ahead of James’ own. That was a promise he made to Ed Raymond three days before the accident, and Bob James was a man who kept his promises. |
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Bear Market of 1974The severe bear market of 1974 threatened the existence of Raymond James, which was bleeding capital by the day. Tom James, his father and other leaders took extreme measures to keep the firm afloat, slashing costs, foregoing paychecks and even attempting to sell the firm for just enough capital to protect client assets and retain as many associates as possible. The story could have ended very differently if not for a sharp upturn and continued rebound in the stock markets late in the year. |
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Taking Raymond James PublicWhen consideration was being given to taking Raymond James public, Tom James penned a letter to shareholders (largely employees at the time). ” … the public offering should be considered as a statement of our independence. While this is a psychological rather than an economic rationale, it is nonetheless very important. We have asserted for some time that we are not interested in becoming a small part of a very large corporation. That assertion results mainly from the inclinations of management rather than the economic benefits associated with either alternative. The public stock offering affords us the opportunity to enjoy a little bit of the best of both worlds. While shareholders will be given liquidity at fair market value, we will still have the ability to control our own destiny.” After 40+ years of Tom’s leadership, upon becoming CEO, Paul Reilly was often questioned about whether the company might ultimately surrender its cherished independence and be acquired by some larger entity. His response: “Not while I’m around.” It’s a theme that continues today. |
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