Annual Report 2025

The power of personal

The relationships that have always been at the heart of our firm came to the fore in 2025, confirming, as always, that our strength lies in people.

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Businesses grow, communities come together and powerful things are brought to life when professional becomes personal.

Caring about clients – understanding their unique perspectives, envisioning their biggest goals alongside them, imagining all the ways an ambition or an institution could grow – gives us a degree of human insight that amplifies our professional rigor. It broadens our already robust capabilities, creating the conditions for truly impactful results.

Relationships are where Raymond James began, and 2025 proved they’re still the purpose driving us forward and solidifying our strength.

CEO Paul Shoukry and Executive Chair Paul Reilly look back on a year defined by the power of connection in their message to shareholders.

Featured stories

"It’s an investment
we’re proud to make."

In its inaugural year, Ready for School, the firm’s signature community impact initiative, delivered on its mission to empower students in, outside and beyond the classroom.

"That support made
all the difference."

Following two devastating storms, Raymond James leaders and associates brought our people-first culture to bear in support of our community and impacted colleagues.

"They’re like family."

Advisor Don d’Adesky and investment banking leaders Sunaina Sinha Haldea and Abi Prakash have forged an international collaboration that makes the 4,600 miles between them disappear.

"It was the people."

When advisor Ray Croteau found himself unexpectedly in the market for a new firm, he and his team began the search with a single question, "Where are advisors happiest?"

"Why would I ever
go anywhere else?"

The Memphis complex’s Spring Fling has become more than a place for clients to shred sensitive tax documents; it’s a reminder to the nearly 500 attendees – including advisors, associates and senior leaders – what it means to be part of Raymond James.

Giving back in fiscal 2025

Philanthropy is as rooted in the firm’s history as any of our core values, and as central to our future as any strategic initiative. And this year, our giving grew again.

raised for United Way in the United States
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pledged over three years to partner organizations by our Ready for School program
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Raymond James Cares Month volunteers
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organizations supported during Raymond James Cares Month
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meals served and packed during Raymond James Cares Month
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hours volunteered during Raymond James Cares Month
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cumulative contributions made to Hurricane Helene and Hurricane Milton relief
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Participation totals are derived from associate and advisor self-reports.

Read the full story of our year.

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J.D. Power 2025 U.S. Investor Satisfaction Study, which measures overall investor satisfaction with investment firms, was released 3/20/25, based on investors surveyed 1/24-12/24, who may be working with a financial advisor. Based on 7,876 responses from Advised Investors, 1 company out of 24 was chosen as the winner. The award is not representative of any one client’s experience, is not an endorsement, and is not indicative of an advisor’s future performance. The study is independently conducted, and the participating firms do not pay to participate. Use of study results in promotional materials is subject to a license fee. J.D. Power is not affiliated with Raymond James. For J.D. Power 2025 award information, visit jdpower.com/awards.

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© 2025 Raymond James Financial, Inc. All rights reserved.


Raymond James & Associates, Inc., member New York Stock Exchange / SIPC, and Raymond James Financial Services, Inc., member FINRA / SIPC, are subsidiaries of Raymond James Financial, Inc.

Raymond James® and Raymond James Financial® are registered trademarks of Raymond James Financial, Inc.

Raymond James & Associates Statement of Financial Condition - September 2025 (PDF)