Client Access Resources
FAQs
Why must I have a mobile device that can receive text messages?
Your account will have two-step authentication to enhance security, so you will receive a text message each time you log in. Also, a text message will be part of the eSignature process for electronically signing your account agreement.
Why must my tax identification number be a U.S. Social Security number?
Financial firms must comply with the Bank Secrecy Act, including anti-money laundering rules, to appropriately identify who is establishing accounts. Additionally, the investment selections available through Client Access include mutual funds, which require the investor to have a U.S. tax identification number.
Why does my primary address have to be a physical address in the United States?
For the purposes of client identification and verification, the Patriot Act requires any persons or companies in the business of trading securities to obtain a physical mailing address.
Can my alternate addresses be P.O. boxes in the United States?
Yes, if you have a U.S. tax identification number and a primary street address in the United States, alternate addresses can be P.O. boxes.
Can my alternate addresses be outside the United States?
Yes, if you have a U.S. tax identification number and a primary street address in the United States, alternate addresses can be outside the United States.
What happens after I submit my account opening information?
First, you will receive an email confirmation that your information has been received. Then, you will receive an email containing agreements for eSignature, including required disclosures and contractual information. After you open the eSignature email and sign, we will begin the process of establishing your account. You will receive another email confirmation when your account is open, at which time you will be able to sign into Client Access to view your account.
Where will I see my account information after it’s open?
Client Access provides secure, easy-to-use access to your account and all documentation related to it – from virtually anywhere. You can log in from this website or through your advisor’s website using the same credentials you used for Client Access. You also can download the Client Access app to your iOS or Android mobile device.
Where can I learn more about IRAs?
The Internal Revenue Service website has helpful information regarding IRAs.
Suitability
To help ensure that you select an account type and investment mix that’s suitable for you, we collect certain information regarding your personal and financial goals and perspectives.
Why do you ask about my personal information such as age, investment goals and investment experience?
The government agency that regulates the financial services industry requires Raymond James to obtain and analyze enough information to reasonably believe a recommendation is suitable. In general, a client’s investment profile includes the person’s age, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs and risk tolerance.
Why do you ask about my intentions regarding my investment, such as how much I intend to invest on an ongoing basis and how much I intend to rely on the investment for current income?
The government agency that regulates the financial services industry requires advisors to determine each client’s liquidity needs, which is the extent to which a client might need to quickly convert any or all of an investment into cash, as well as the ability to do so without experiencing a significant loss in value.
What is the relationship between my liquidity needs and my financial goals?
This is where your time horizon comes into play – the expected number of months, years or decades a client plans to invest to achieve a specific financial goal. Generally, the longer your time horizon, the lower your liquidity needs. It is possible, however, to have a long time horizon and also want or need to invest all or a portion of your portfolio in liquid assets to pay for unexpected expenses or take advantage of unforeseen opportunities.
Your risk tolerance can also come into play. While clients with a longer time horizon generally may be in a position to assume higher levels of risk in pursuit of greater returns – to ride out the inevitable ups and downs of the markets over time – that is not always the case. Some clients with long time horizons may not be willing to take on such risk, while others could be unable to do so because of considerations outside their time horizons.
Why do you ask my opinion about market volatility – how I would feel about swings between return percentages or a 10% drop in the market?
We ask these questions to help determine your risk tolerance, which reflects not only your ability to assume risk, but also your willingness. Your opinions about market volatility help us assess your willingness, which is more subjective than your ability to take on risk.
Regulatory
Financial services is a highly regulated industry. Raymond James is required to collect certain information from you and, in turn, provide certain information to you.
Why do you ask me to provide information about my employment, income, net worth and source of wealth?
Federal securities laws require any persons or companies in the business of trading securities to “know their customers.” This information helps your advisor understand your financial needs, as well as detect any suspicious or fraudulent activity.
Why do you ask about my relationships in the financial industry?
Accounts opened or established by persons associated with financial firms are subject to certain federal securities laws, which require certain disclosures to the employer and controls around the account activity.
Why do you ask whether I authorize disclosure of my name, address and security position to requesting companies?
Federal securities laws generally require public companies to communicate with shareholders when they take certain corporate actions. Raymond James could be required to release your name, address and number of shares to the company that issued the securities you hold through Raymond James. If you object, you will receive only the regulatory mailings issuing companies are required to send to all holders, and they will come from Raymond James.
Why do you ask whether I am a Politically Exposed Person (PEP) or Senior Political Figure (SPF), and whether I am a relative or close associate of a PEP or SPF?
Federal regulators expect any people or companies in the business of trading securities to take all reasonable steps to ensure they do not knowingly or unwittingly assist in hiding or moving the proceeds of corruption by senior foreign political figures, their families, and their associates. To meet this expectation, Raymond James must identify the politically exposed status of its clients.
Why do you ask if I have a 50% or greater beneficial ownership or controlling interest in a government-owned business or entity?
Federal regulators expect that any persons or companies in the business of trading securities should take all reasonable steps to ensure they do not knowingly or unwittingly assist in hiding or moving the proceeds of corruption by senior government associates.
Why do you ask whether I anticipate using wire transfers into or out of this account, or if I anticipate sending third-party wires?
Federal securities laws require any persons or companies in the business of trading securities to “know their customers.” This information helps your advisor understand your financial needs, as well as detect any suspicious or fraudulent activity.
Why do you ask whether I authorize my financial advisor/Raymond James to retain my non-public personal financial information in the event of an affiliation with a securities brokerage other than Raymond James in the future?
At Raymond James, we have a policy that each client belongs to his or her advisor, not the firm. Several states – Alaska, California, Louisiana, Maine, Massachusetts, North Dakota and Vermont – operate under the assumption that clients belong to the firms, and that advisors who leave their firms will not take their clients’ information with them. To help maintain the integrity of the Raymond James advisor-client relationship, we ask clients who reside in these states to allow their advisor to retain their personal information if the advisor leaves Raymond James.