BBB Business Review

BBB Accredited Business since 04/16/2012

Raymond James & Associates, Inc.

Phone: (407) 246-8885Fax: (407) 648-5942View Additional Phone Numbers301 E Pine St Ste 1100, OrlandoFL 32801-2748 Send email to Raymond James & Associates, Inc.

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BBB Accreditation

A BBB Accredited Business since 04/16/2012

BBB has determined that Raymond James & Associates, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised Raymond James & Associates, Inc.'s rating include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 1 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.

Customer Complaints SummaryRead complaint details

1 complaint closed with BBB in last 3 years | 1 closed in last 12 months
Complaint TypeTotal Closed Complaints
Billing / Collection Issues1
Advertising / Sales Issues0
Problems with Product / Service0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 1

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on Raymond James & Associates, Inc.

Customer Experience Total Customer Reviews
Positive Experience
Neutral Experience
Negative Experience
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (1)BBB Closure Definitions
03/19/2015Billing / Collection Issues | Read Complaint Details
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Complaint
April 3, 2009 I bought some bonds with the help of Mr. **** C ******* a financial advisor for ****** ****** at the time. That's where my account was held for NO ACCOUNT MAINTANCE FEES until Feb 2013 When Mr. **** * ****** changing job to Raymond James Associates. My account from ****** ****** merged with him to his new job at Raymond James Associates.Now Raymond James imposed a $50.00 annual maintance fee in which I have no say in the merger when he took his new job and moved my account with him. I was told to sign up for electronic statement, then this fee could be waved. I did signed up, but still being charged the annual fee. Mr. **** C ****** then informed me there is a list of exceptions. My type of account did not make the list of all the accounts are exempt from being charged the Annual Account Maintenance Fee.I still have 4 more years before the bonds matured. It will cost me $200.00 total for the next 4 years, so I decided to look into TRANSFERING MY ACCOUNT TO OTHER BROKER WITH NO FEES.When I asked ********* will there be any transfer fee to get out of Raymond James, verbally told me NO FEES. When I emailed him to confirm that, this what he EMAILED "Since the money is not in Raymond James you will not pay any fee. " It is a Municipal BONDS from CALIFORNIA. His solution was to sell the bonds and let him invest on a Hybrid Annuity. On Wednesday, January 29, XXXX XX:XX AM, **** ****** ***********@RaymondJames.com wrote:***, The annual fee is just $50 a year. I do not know where did you get $200? One possible solution is selling the bond and together the proceeds from the bond and the money that you have in the Commonwealth Annuity we can invest on a Hybrid Annuity. I can explain you the difference. Since the money is not in Raymond James you will not pay any fee. The rationale behind this fee is all the work which represents reporting to the IRS, in terms of manpower and documents. Again we can exclude them if you have a direct account in an Annuity and Raymond Jame
Product_Or_Service: CALIFORNIA MUNICIPAL BONDS

Desired Settlement
I have decided to transfer my account to CHARLES SCHWABS B/C there is NO MAINTENANCE FEES THERE.July 2, 2014 Raymond James charged me $100.00 for DELIVERING FEES. (stated on the statement)(Mr. ********* solution was selling the bond and invest on a Hybrid Annuity, since the money is not in Raymond James I will not pay any fee)I believed I was misleading by Mr. ******* and for this reason, I request that Raymond James reimburse me the rather EXCESSIVE DELIVERING FEES of $100.00.Thank you. KL

Business Response
Contact Name and Title: ********* *****
Contact Phone: XXX-XXX-XXXX
Contact Email: ***************@RaymondJames.com
The Compliance Department of Raymond James & Associates, Inc. is in receipt of the consumer complaint referenced above.

Please be advised that pursuant to our obligations under the rules of the Financial Industry Regulatory Authority ("FINRA") we will conduct a detailed review of the issues raised and provide the consumer with a written response. However, we will be unable to provide the BBB with a copy of the resolution as we would be in violation of our requirement regarding the protection of the consumer's personally identifiable information.

We anticipate providing the consumer with a response in approximately 30 days.

Please feel free to contact the Compliance Department of Raymond James & Associates, Inc. with any questions you may have.

Thank you.

Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.)
I am still waiting for RMJ to tell me what their decisions are. At the moment, I can not state that I am happy with their response, but i am willing to wait ,pending their investigation.

Final Business Response
Please note that we provided a written response to Ms. ** on January 12, 2015 and again on January 27, 2015. Our response to the client stated that RJFS will not refund her account closing fee as this fee was fully disclosed to the client in her new account documentation. If you need further information, you can contact me directly at XXX-XXX-XXXX.

Thank you,

**** ******
Compliance Specialist
Raymond James Financial

Final Consumer Response
From: *** **
Sent: Wednesday, March 11, 2015 3:26 PM
To: ******* ******
Subject: Re: BBB Complaint Case# ******** (Ref#XXX-XXXXXXX-XXXXXXXX-XX-XXXX)

FYI....I Took my complaint to FINRA Feb 06, 2015. I got my refund from RMJ Feb 26, 2015. It was just the principle. I wanted to thank you for trying to help me......KL

Industry Comparison| Chart

Financial Planning Consultants

Additional Information

top
BBB file opened: 10/01/2004Business started: 01/31/1963
Licensing, Bonding or Registration

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Department of Financial Services (FL)
200 E Gaines St
Tallahassee, FL32399-6502
(877) 693-5236

Orange County Occupational License

BBB records show a license number of A175205 for this company, issued by Department of Financial Services (FL).

Type: FL Office of Financial Regulation

BBB records show a license number of 0020052 for this company, issued by Orange County Occupational License.

Type: Business Tax Receipt

Type of Entity

Corporation

Incorporated: February 1969, FL

Business Management
Principal: Mr. Steve Fricke (Senior Vice President)
Business Category

Financial Planning Consultants

Products & Services

This company offers investment financial planning services.

Map & Directions

Map & Directions

Address for Raymond James & Associates, Inc.

301 E Pine St Ste 1100

Orlando, FL 32801-2748

To | From

LocationsX

1 Locations

  • 301 E Pine St Ste 1100 

    Orlando, FL 32801-2748(407) 648-4488

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Central Florida. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Raymond James & Associates, Inc. is in this range.

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Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.

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Additional Phone Numbers

  • (877) 953-7526
  • (800) 426-7449
  • (800) 248-8863
  • (407) 648-4488
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BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.

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BBB began including complaint response text in BBB Business Reviews on August 1, 2012. BBB reports the complaint response text for all reportable complaints against a business that are received electronically.

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Industry Tips for Financial Planning Consultants

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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

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Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

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