Raymond James' Strength in Today's Volatile Market
You’ve likely seen headlines about the recent failures of Silicon Valley Bank and Signature Bank, commercial banks that were taken over by federal regulators on Friday and Sunday. While the government is taking steps to reassure investors, the two collapses have understandably drawn nationwide concern.
While the details surrounding the future of these firms and their assets are still unfolding, we wanted to address any apprehension you may have about whether these events affect the standing of your financial accounts and cash balances at Raymond James.
Reflecting the influence of our client-first values and prudent management principles, rest assured that Raymond James is well-positioned to weather changing market conditions. The firm has been and remains committed to prioritizing risk management and long-term outcomes ahead of short-term gains. This dedication is exemplified by our 140 consecutive quarters of profitability, which extend across multiple recessions and difficult markets, including the 2007-2008 financial crisis.
As further evidence of our values in action:
- We have among the strongest capital ratios in the industry with double the regulatory requirement considered to be well-capitalized.
- Raymond James has A-level credit ratings with stable outlooks across all three major credit rating agencies – a testament to our consistent performance and strong balance sheet.
- We are leaders in offering clients as much FDIC coverage as possible. Our sweeps program offers up to $3 million of FDIC insurance, and our new enhanced savings program offers up to $50 million.
I hope these points offer you reassurance, but we recognize the short-term impact that a bank failure can have on financial markets and consumer confidence. We’ll be closely monitoring the situation in the days ahead to evaluate any possible impact on your portfolio and financial plan.
In the meantime, I’m always available to answer your questions and offer perspective. Please do not hesitate to reach out. Thank you for your continued trust in me.
Sincerely,
BROOKS TOMBLIN
Senior Vice President, Wealth Management
Financial data as of 12/31/2022. Credit ratings as of 2/13/2023. Past performance is not an indication of future results. The information provided is for informational purposes only and is not a solicitation to buy or sell Raymond James Financial stock. A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to review, revisions, suspension, reduction or withdrawal at any time by the assigning rating agency.
Banking and lending solutions provided by Raymond James Bank, member FDIC. Raymond James Financial Services, Inc., and Raymond James and Associates, Inc., are affiliated with Raymond James Bank, member FDIC.
ERISA accounts and managed IRAs are not eligible for the multi-bank sweep program. These accounts can elect RJBDP – Raymond James Bank Only. RJBDP – Raymond James Bank Only offers FDIC coverage up to $250,000 ($500,000 for joint accounts). Funds held at Raymond James Bank and participating banks in the Bank Deposit Program are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per insured bank, for each account ownership category. Additional information can be found at fdic.gov or by calling 877.ASK.FDIC (877.275.3342).
Unless otherwise specified, products purchased from or held at affiliated Raymond James Financial, Inc., companies are not insured by the FDIC or any other government agency, are not deposits or other obligations of Raymond James Bank, are not guaranteed by Raymond James Bank, and are subject to investment risks, including possible loss of the principal invested.
Material created by Raymond James for use by its advisors.