Hurricane Milton update
Ahead of Hurricanes Helene and Milton, our business continuity plans were successfully put in place. Our proactive measures – along with our resilient infrastructure designed to safeguard our operations – ensured we can continue meeting the needs of our advisors and their clients during and after the storm.
While our corporate headquarters lost power, sustained minor wind damage and experienced some flooding in the surrounding streets, the buildings were largely untouched. Most importantly, we confirmed the safety of every associate and advisor affected by Helene and virtually every associate and advisor potentially affected by Milton. We understand the few remaining could be experiencing connectivity issues making it difficult to reach them; confirming their safety remains our top priority.
While the storms have thankfully passed, our commitment to people continues.
True to our mission, we are working hard to ensure our Raymond James family and surrounding communities receive the support and resources needed during this difficult and stressful time. Following Milton, Raymond James has increased its firm and leadership contributions to almost $11 million in associate and community relief.
To assist with the cost of evacuation, travel and other immediate storm-related expenses, the firm is once again providing Hurricane Relief Stipends to eligible associates.
- A $500 stipend is being provided to associates most impacted by Milton, and who previously received the $1,000 Hurricane Helene stipend.
- A $1,000 stipend is being provided to associates most impacted by Milton, and who did not receive the Hurricane Helene stipend.
While I am not surprised, I am humbled by the generous donations that continue pouring into Friends of Raymond James from advisors and associates. Touched by your example, I joined Paul Shoukry in a leadership challenge for our Executive Committee and Board of Directors, collectively pledging over $450,000 in personal donations. The firm also contributed an additional $250,000 following Milton, bringing the total firm contribution to $500,000. I encourage associates and advisors who were unaffected by the hurricanes and are seeking a way to help, to consider joining us in donating. You may do so by visiting the Friends of Raymond James website and clicking the “Donate” tab. Our impacted colleagues need us now more than ever.
Beyond supporting our Raymond James family, we know our communities need us as well. The firm is donating an additional $1 million to disaster response organizations, including the American Red Cross and other local partners, bringing our total community partner donations for the two storms to $2.25 million. Raymond James will also continue matching up to $250,000 in donations from all Raymond James advisors and associates to the American Red Cross and the United Way Suncoast Disaster Recovery Fund through October 31, 2024.
Finally, on behalf of myself, Paul Shoukry and the entire leadership team, I want to once again thank those of you in Memphis, Southfield, Denver, New York and all over the country who have worked hard to ensure continuous service and support to advisors and their clients.
While the last few weeks have been challenging and the road to recovery is long, it’s times like these that I feel most proud to work alongside each and every one of you. The strength, resilience and commitment you continue to show is admirable. Thank you – and remember, we will get through this, together.
Paul C. Reilly
Chair & CEO, Raymond James Financial