Intermediaries looking for a Discretionary Manager

Raymond James is one step ahead of the debate surrounding the FCA’s guidelines for ‘off-the-shelf discretionary fund management solutions’. We already have the agreements and processes in place to support professional intermediaries introducing business to our discretionary investment managers.

These professional intermediaries, such as financial advisers, accountants or solicitors, are an important source of client referrals for Raymond James branches. We have developed reporting tools, client documentation and payment processing procedures to assist with these introducer relationships and to help the intermediaries stay informed about the status of their clients’ portfolios.

Introducer Agreement & Introducer Terms of Business

The Introducer Agreement, in conjunction with the Introducer Terms of Business, form the contract between the professional intermediary and Raymond James. This contract clarifies the services each party provides as well as roles and responsibilities, and also confirms procedures for facilitating payments that have been agreed between intermediaries and their clients.

Initial adviser charge

Subject to instruction by the client, intermediaries may receive a percentage of a client’s initial investment, which will be agreed on a case by case basis. The Raymond James discretionary investment manager will determine when the initial investment has been received and will instruct Raymond James to debit the account.

On-going adviser charge 

Subject to instruction by the client, Raymond James can facilitate the ongoing adviser charge, calculated as a percentage of the client’s discretionary portfolio. A remittance statement is produced and posted to the intermediary whenever monies are due to be paid, which includes a breakdown of the payment on client level.

Reporting Tools

Data Export – Data Download to Avelo Adviser Office, Prestwood, Intelliflo and Plum
Raymond James provides a data integration capability to Avelo Adviser Office, Prestwood, Intelliflo and Plum, which allows intermediaries using these back office systems the ability to view relevant client accounts. The data download consists of holdings and cash balances.

Client Access
Intermediaries can also view their clients’ accounts on Client Access, our secure on-line reporting tool. The system enables intermediaries to view clients’ holdings, valued at the previous day’s closing price, detailed at both the account level and the consolidated total as well as transaction information for the last two years, including any cash transactions such as buys and sells, cash dividends and cash transfers.

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