Raymond James Financial Services Securities Attorney

The investment attorneys at Gana LLP represent clients in their disputes with financial firms, such as Raymond James Financial Services, Inc. (Raymond James). Our firm can analyze your investments and determine if there was any wrongdoing in the handling of your accounts. We focus our practice on investigating and uncovering evidence of brokerage misconduct including investment frauds, unsuitable investments, unauthorized trading, churning, or failure to supervise.

Raymond James is affiliated with, under common control, or otherwise performs business under the company names Raymond James & Associates, Raymond James Limited, Raymond James Investment Services Limited, Raymond James Financial Advisors, Inc., Investment Management & Research, Inc.

Raymond James is a diversified financial services company and through its subsidiary companies engages primarily in investment and financial planning, investment banking, and asset management. On April 2, 2012, Raymond James merged with Morgan Keegan & Company. The merger created one of the nation’s largest wealth management and investment banking firms.

Raymond James – By the Numbers:

  • CRD# 6694
  • SEC# 8-17983
  • 74 Regulatory Events
  • 72 Customer Complaints
  • Revenue: $4.5 billion – 2013
  • Net income: $367 million – 2013
  • Total assets: $447 billion
  • Employees: 6,200 – 2013
  • Client Accounts: 2.5 million - 2013

Raymond James – In the News:

FINRA v. Raymond James Financial Services, Inc. AWC No. 2011028605901 – FINRA fined Raymond James & Associates and Raymond James Financial Services and ordered the firms to pay restitution of $1.69 million to more than 15,500 investors concerning allegations that they were charged unfair commissions on securities transactions. FINRA found that from 2006 to October 31, 2010, the firms used automated commission schedules for equity transactions that charged more than 15,500 customers nearly $1.69 million in excessive commissions on over 27,000 transactions involving.

In the Matter of Raymond James – ARS – Raymond James settled with eight states and the Securities and Exchange Commission (SEC) agreeing to buy back $300 million in auction-rate securities (ARS) from clients and pay a fine of $1.7 million. According to the allegations, Raymond James' registered representatives told their customers that ARS were “cash equivalents” and “highly liquid” short-term investments when in fact these statements later turned out to be false and misleading.

FINRA v. Raymond James Financial Services, Inc. AWC No. 2009018985203 – Raymond James settled with FINRA and was censured and fined $400,000. In addition, the firm agreed to undertake a review of its anti-money laundering policies, systems, procedures and training after FINRA found that it failed to implement procedures to detect suspicious transactions in the accounts of a customer. According to the allegations, the customer who used his brokerage accounts at the firm to conduct a Ponzi scheme resulting in losses of approximately $17.8 million to investors.

The securities attorneys of Gana LLP have resolved hundreds of securities arbitration claims against brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.

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