We are only authorised to act in the United Kingdom or Member States of the European Union into which our services may rightfully be conducted under the Rules. We may be prohibited or restricted by legislation or regulation in any other jurisdiction from directing or making our services available to you; in particular, persons in the USA or Canada. If you are accessing our services or Website from outside the UK, please contact us and we shall be pleased to confirm the position. Before proceeding you should satisfy yourself that we are able to act for you. We accept no responsibility whatever for any failure by a person resident outside the United Kingdom to observe the foregoing.
Except where our services may be conducted crossborder in accordance with above, we do not solicit clients or potential clients or promote or advertise investment services or activities together with ancillary services, in the European Union. In such circumstances, where you are established or situated in a Member State of the European Union, we will provide investment services or activities to you solely where you initiate such services or activities at your own exclusive initiative; where we provide services on this basis, they are not deemed as provided in the territory of the European Union. A service is considered to be provided at your initiative unless you demand it in response to a personalised communication, from us on our behalf to you, containing an invitation or intended to influence you in respect of a specific financial instrument or specific transaction. A service requested by you on the basis of a communication from us containing a general promotion or offer of Financial Instruments, where it is addressed to the public or a larger group or category of clients or potential clients, can be considered to be provided at your initiative.
If you are a Raymond James (Pershing custody) client: View our rates and charges information
For Raymond James custody clients, please see the information below.
With effect from 23rd December 2025.
| Capital value on deposit | Gross rate |
|---|---|
| £0 - £99,999 | 1.32% |
| Over £100,000 | 1.75% |
*Rate quoted is rate paid on total balance according to the band it falls within
With effect from 23rd December 2025.
| Capital value on deposit | Gross rate |
|---|---|
| $0 - $119,999 | 1.55% |
| Over $120,000 | 1.65% |
*Rate quoted is rate paid on total balance according to the band it falls within
| Capital value on deposit | Gross rate |
|---|---|
| £1+ | 0% |
*Interest is calculated per account from the date on which we receive cash up to the date of withdrawal or the settlement of purchases or the date of notification of closure of the account. It is distributed gross - i.e. without deduction of Income-tax - twice yearly in April and October, or to the date of notification of closure, subject to a minimum of £10.
In the event that cash is transferred between a managed and non-managed service, for the purposes of calculating any interest due, it will be treated according to which service applies at the point of calculation in April and October as if it had been in that account for the entire period.
| Transaction value | FX charge |
|---|---|
| £0 - £9,999 | 1.00% |
| £10,000 - £49,999 | 0.75% |
| £50,000 - £499,999 | 0.50% |
| £500,000 - £999,999 | 0.30% |
| £1m or over | 0.15% |
In addition to the charges set out in your Schedule of Fees and Charges, you may also incur other fees. Examples of these are provided below; however, please note that some may not apply to your specific circumstances.
For full details of all applicable fees and charges, please refer to your Schedule of Fees and Charges or speak with your Wealth Manager.
| Item | Charge | Further info |
|---|---|---|
| Certificated and paper transactions/transfers to or from our custody | £50 | per transaction/ transfer |
| Electronic transactions and/or transfers out of overseas securities: | ||
| Euroclear, Canada and USA | £20 | per transaction/ transfer |
| Other overseas securities/ markets | £50 | per transaction/ transfer |
| Electronic transfer of non-overseas securities | £10 | per transfer |
| Electronic transfer of securities into our custody | Free |
| Item | Charge | Further info |
|---|---|---|
| All securities in overseas custody | £30 | per security per year - pro rata |
| CREST personal membership (where required) | £800 | per year - pro rata - plus VAT |
| Item | Charge | Further info |
|---|---|---|
| Payments out by BACS | Free | per payment |
| Payments out by CHAPS | £25 | per payment |
| Payments out by cheque | £10 | per payment |
| International payments out | £25 | per payment |
| Returned (bounced cheques) | £50 | each |
| Posted annual company reports | £10 | per report |
| For clients who are not natural persons: Legal Entity Identifier (LEI) application and/or renewal | ||
| New LEI application | £65 | plus VAT |
| Renewal of an existing LEI number(on-going annual fee) | £65 | plus VAT |
| The following may also be subject to any third-party costs incurred: | ||
| Letter of indemnity | £100 | per letter |
| Buy-in notices (any resultant loss will be applied to the client account) | £25 |
View our how to fund your account document - which provides details on how to credit your accounts by:
Please ensure you use your Raymond James account number as a reference, funds will be returned if you otherwise.
Only applicable to Raymond James custody clients
10% of reclaimed withholding tax - subject to £100 minimum charge. Please contact your wealth manager for full terms of this service.
Only applicable to Raymond James custody clients
The reference rate is the amount of interest which may be charged in respect of any debit balance on your account, as referred to in our business terms. The interest rate of 6 per cent per annum above the Bank of England base rate at the time interest is calculated, and subject to a minimum of zero.
If you are a Raymond James (Pershing custody) client: View the client protection document
For Raymond James custody clients, please see the information below and View our client protection document
We are not a bank or deposit-taker in our own right. Unlike a bank, we are not using your money in running our own business, nor are we lending it to other clients, nor investing it in anything else. Instead, we are holding it for you in trust, placing it on deposit for you, and it remains your money at all times. Your money is ring-fenced from the assets of Raymond James and is kept strictly segregated as client money in accordance with the rules of the Financial Conduct Authority, by whom we are authorised and regulated. In the unlikely event of Raymond James’s insolvency, the money held in trust in a client money bank account would be available for return to you.
We pool your money with that of all other clients and place the entire pool with leading banks and credit institutions. With the aim of increasing security for you we don't place the money with a single bank but divide it between, typically, four or five different banks and credit institutions at any one time. We carry out our own analysis on the banks and credit institutions that we choose and both the choice and the proportions in which we divide the money are subject to our periodic review and careful selection.
Raymond James only uses banks with strong credit ratings (at least BBB+ or above) and sets exposure limits for all of these banks.
The choice of banks and credit institutions with whom we place clients' funds can vary from day to day. But we believe that you are entitled to know where the money is placed at any given time and will tell you this during business hours whenever you ask.
The banks and credit institutions amongst whom we divide the deposits do of course guarantee re-payment. But this guarantee is only as good as the bank itself. If it should become insolvent or its assets are frozen or seized by the government, then we will of course make every effort to recover the money. But our own guarantee can only be as good as that of the banks and credit institutions with whom we place the funds. In the unlikely event of a bank default it is likely that we will pro-rate the entire pool of funds that we hold for clients so that the effect of any default is proportionately the same for each client.
We hold your money as your trustee and we have a fiduciary duty to take good care of it. This is a responsibility which of course we take very seriously indeed. Our Business Terms do however make it clear that ultimately we will not be liable in the event of default by any of the banks or credit institutions with whom deposits are placed.
Additional protection may be available through the FSCS for eligible deposits. Depositors in banks and credit institutions which are regulated by the Prudential Regulation Authority are entitled to compensation of up to £120,000.
The precise amount of cover available will depend on your own particular circumstances and the nature of the bank default. We have set out an illustrative example here but this is not a guarantee and should not be seen as such.
The amount a client is deemed to have deposited at the failed bank would be calculated on a pro rata basis. This is best illustrated by a simple example using made up numbers:
In these circumstances, a client’s exposure to Bank C would be deemed to be 20% of their cash balance in trust with Raymond James, so for the average client that would be £20k (20% x £100,000) which should be fully covered by the FSCS limit of £120,000 per client per bank.
Additional support
The very great majority of the investments that we hold for you are registered in the name of our nominee company, Rock (Nominees) Limited, which is wholly guaranteed by Raymond James . As with Client Money, these assets are carefully segregated from Raymond James’s own assets and are subject to regular checking and reconciliation. We hold the investments in trust for you and they remain your property at all times. In the case of Overseas Shareholdings, Unit Trusts and OEICs we may use other specialist custodians where these investments are held in trust on your behalf. Certain overseas countries may not however recognise the concept of trust or nominees. In such cases, therefore, we have to hold clients' investments directly in the name of Raymond James . We will apply what safeguards we can in these circumstances and, as provided by the rules of the FCA, the FSCS states that the maximum level of compensation for investment claims against firms declared in default is £85,000 per person per firm.
Because the money and investments that we look after for clients are held in trust, and are carefully ring-fenced, the position of Raymond James itself should not pose a risk to their security.
Notwithstanding this fact, Raymond James itself is one of the larger UK private client investment firms, with a history of more than 200 years, and is carries significant capital ad liquid reserves in excess of requirement. Detailed information about its capital position can be found in its MIFIDPRU disclosure document. Additionally, Raymond James Wealth Management is itself a wholly owned subsidiary of Raymond James Financial, Inc. a large and wealth management business regulated by the SEC and listed on the NYSE in the United States. For further information about Raymond James.
To ensure you provide us with the correct National Identifier details, please click below to view the list published in the Financial Conduct Authority Handbook. Should you require further assistance, please speak to your Wealth Manager.
View National Identification list
Circumstances may arise where changes in the interpretation of VAT law may lead to VAT previously charged to clients becoming recoverable from HMRC. In such circumstances, Raymond James may be able to file “protective claims” for VAT overcharged to those clients who should have qualified for exemption over the last four years which is the maximum period allowed.
If HMRC accepts any such claim, we will pass on to you the full amount refunded. Please note that this amount may be lower than the VAT originally charged on the services provided. This is because, under Section 80(2A) of VATA 94 we are required to calculate the amount of VAT that Raymond James originally recovered relating to these supplies, and to deduct that from the claim.
The VAT Regulations require us to pass on the full amount of the refund received, and we can confirm that we will do this as quickly as possible after a claim is approved.
We offer clients a wide range of different financial services to suit their needs. We provide a comprehensive service - advising on, managing and buying and selling stocks, shares, unit trusts, gilts, corporate bonds and a wide range of other financial instruments. We are not tied to any products or providers.
These services do not extend automatically to advice or management in relation to clients' overall financial planning arrangements, or to any individual aspect of their financial requirements other than stock market and stock market based investments. Our advisory investment services are therefore classed as 'restricted' since they are designed specifically for investors seeking specialist expertise and advice on investments and investment portfolios.
The globalisation of the financial sector now makes it much easier for individuals and entities to hold money and assets outside of their jurisdiction of tax residence. While the great majority comply with their tax obligations there are some who will use the availability of offshore financial structures to evade tax.
Automatic Exchange of Information (AEOI)
AEOI is about improving transparency in the fight against tax evasion and in so doing protecting the integrity of the tax systems of the Participating Jurisdictions. The UK has entered into a number of international agreements designed to provide tax administrations with details of financial accounts and assets owned by Individuals, Entities and Trust that are resident for tax purposes in their jurisdiction, but which are held by financial institutions in the other territory to help stop tax evasion.
The UK has legislation in place for the AEOI under the following regimes:
Under these agreements, Raymond James and all UK financial institutions have a legal obligation to determine the tax residency of all its account holders.
Where an account holder is identified as tax resident in one of the participating countries, their account details must be reported to HM Revenue & Customs (HMRC) on an annual basis. This information is then expected to be shared with the relevant overseas tax authorities where the account holder is tax resident by HMRC.
In return, those participating countries are expected to supply HMRC with similar information on UK tax resident Individuals, Entities and Trusts holding accounts with their Financial Institutions. In order to achieve this, we require you to complete a Tax Residency self-certification form.
The Foreign Account Tax Compliance Act (FATCA) is a United States legislation that has been designed to ensure tax compliance by US persons to ensure they report their worldwide income to the US tax authorities (IRS) even if they are not resident in the US. The agreement between the UK and USA which came into effect on 1st July 2014 requires UK financial institutions, like Raymond James, to provide reports on their account holders who are deemed to be ‘US persons’ for US tax purpose.
Please note that under this agreement Raymond James is required to report any client which is deemed to be US Person/account holders to HMRC who will share this information with the IRS. We do not report directly to the US IRS.
For more information about FATCA please visit the IRS website.
Common Reporting Standard (CRS) is a global standard developed by the Organisation for Economic Co-operation and Development (OECD) for the automatic exchange of financial account information between tax authorities worldwide.
Under the CRS, we are required to identify and report all accounts that we hold for Individual, entities and Trust that are tax residents in any of the overseas participating CRS countries.
Please note that Raymond James is required to report the reportable information on these accounts directly to HMRC who will share this information with the overseas tax authorities where the account holders are identified as being tax resident. We do not report directly to the overseas tax authorities.
For more information, please visit the following website:
Read information our policies and statements, including
Our secure portal Raymond James - Client Access, makes it easy to access to information about your investments wherever you are.
Raymond James, Charles Stanley and Charles Stanley Direct are trading names of Raymond James Wealth Management Limited.
Raymond James Wealth Management Limited (formerly Charles Stanley & Co. Limited) and Raymond James Investment Services Limited have been brought together to form a single UK business operating under Raymond James Wealth Management. This combined business brings together the experience and expertise of both firms within one UK company and continues their long-standing commitment to providing high quality client service.
As we continue to integrate these businesses, we will share information relevant to the services we provide and your arrangements with us. If you are unsure whether any information applies to you, please contact your wealth manager or our client support team.
