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My account was neglected from April 22 until December 27th
My account was neglected from April 22 until December 27th. During this time, I continuously charged fees even though the financial advisors were not investing my monthly contributions. I was then charged inflated processing fees when I tried to close my account. During the 31-month period from April 22 until December 27th, my Raymond James advisors did not make one active purchase of shares, even though I contributed to my account each month. Therefore, my money continued to accumulate in cash, while the Fund I was supposed to be invested in was earning 27% this year alone. Additionally this invested amount would have earned a 4.831 combined total dividend over that time (Jun. 21, 2017 to Dec. 17, 2019). I paid $120 in management fees during this time my account was left neglected. I tried to contact my investor on February 18th and October 14th. Unfortunately, I was only able to resolve the tax question I had I had in October, and did not hear back regarding the other questions I had concerning my account.I eventually employed the assistance of an attorney before Raymond James finally responded to my questions regarding the neglect of my account. Once they contacted me, Raymond James did not apologize or take ownership for the neglect. Once my advisor finally took action, they then decided to change the two funds I was invested in and charged an additional $23.80 in 'handling fees'. Ironically, this fund change came just after the dividend date, meaning not only did I miss out on the dividend, but the share price dropped as well. The neglect of my account through the series of missteps I mentioned above resulted in an approximate loss of just over $1,000 by my rough calculations. While this might not be a large sum of money compared to your other accounts, it is a lot to me, and the lack of fiduciary oversight is quite alarming. After this interaction, and also finding out Raymond James has a history of charging excessive fees which lead to a class action lawsuit ruling against them, I decided to move my to a brokerage that doesn't charge these excessive fees. I initiated this transfer in December . Raymond James delayed this process until after the new year, then charged me the 2020 management fee after only holding my money for two days in 2020. I have tried repeatedly to get this fee reimbursed by Raymond James, but again they are unapologetic about this fee and the way my account was handle. Intend to also follow-up with the Securities and Exchange Commission (SEC) regarding the practices of Raymond James, how my account was handled, and how I was treated as a person. Product_Or_Service: Financial Advisement
The complaint has been investigated and resolved to the customer’s satisfaction.
Is Raymond James & Associates legit?
Raymond James & Associates earns a trustworthiness rating of 100%
Highly recommended, but caution will not hurt.
We found clear and detailed contact information for Raymond James & Associates. The company provides a physical address, phone number, and 2 emails, as well as 5 social media accounts. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers.
Raymond James & Associates resolved 100% of 1 negative reviews, its exceptional achievement and a clear indication of the company's unwavering commitment to customer satisfaction. It would suggest that the company has invested heavily in customer service resources, training, and infrastructure, as well as developed an effective complaint resolution process that prioritizes customer concerns.
Raymondjames.com has a valid SSL certificate, which indicates that the website is secure and trustworthy. Look for the padlock icon in the browser and the "https" prefix in the URL to confirm that the website is using SSL.
Raymondjames.com you are considering visiting, which is associated with Raymond James & Associates, is very old. Longevity often suggests that a website has consistently provided valuable content, products, or services over the years and has maintained a stable user base and a sustained online presence. This could be an indication of a very positive reputation.
Raymond James & Associates website is deemed to be popular and indicating that it receives a high volume of traffic. It is important to be cautious when using a highly trafficked website, as it may be a target for cybercriminals looking to exploit vulnerabilities or steal personal information.
Raymondjames.com regularly updates its policies to reflect changes in laws, regulations. These policies are easy to find and understand, and they are written in plain language that is accessible to all customers. This helps customers understand what they are agreeing to and what to expect from Raymond James & Associates.
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About Raymond James & Associates
Founded in 1962, RJA has grown to become one of the most respected names in the financial industry. The company's commitment to putting clients first is evident in its independent and unbiased investment recommendations and personalized approach to wealth management.
RJA offers a full range of services, including financial planning, retirement planning, estate planning, investment management, and more. Its team of financial advisors is dedicated to providing personalized investment solutions that meet the needs of each individual client.
The firm's investment philosophy is based on the belief that a long-term approach to investing and portfolio diversification are key to achieving clients' financial goals. RJA offers access to a wide range of investment products, including stocks, bonds, mutual funds, exchange-traded funds (ETFs), and alternative investments.
In addition to its wealth management services, RJA is also committed to giving back to the community through charitable giving and volunteerism. The firm's philanthropic efforts include supporting causes such as education, health and human services, and the arts.
Overall, Raymond James & Associates is a trusted and respected wealth management firm that is dedicated to providing customized solutions to help clients achieve their financial goals. With a commitment to putting clients first, a talented team of financial advisors, and a broad range of investment options, RJA is well-positioned to continue its success well into the future.
Overview of Raymond James & Associates complaint handling
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Raymond James & Associates contacts
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Raymond James & Associates phone numbers+1 (727) 567-5296+1 (727) 567-5296Click up if you have successfully reached Raymond James & Associates by calling +1 (727) 567-5296 phone number 0 0 users reported that they have successfully reached Raymond James & Associates by calling +1 (727) 567-5296 phone number Click down if you have UNsuccessfully reached Raymond James & Associates by calling +1 (727) 567-5296 phone number 0 0 users reported that they have UNsuccessfully reached Raymond James & Associates by calling +1 (727) 567-5296 phone number
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Raymond James & Associates emailsjim.marren@raymondjames.com94%Confidence score: 94%lucas.lee@raymondjames.com94%Confidence score: 94%brent.elyea@raymondjames.com94%Confidence score: 94%Financemichael.mcnamee@raymondjames.com94%Confidence score: 94%Financealexis.rooker@raymondjames.com94%Confidence score: 94%Supportalisa.carver@raymondjames.com94%Confidence score: 94%Support
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Raymond James & Associates address880 Carillon Pkwy, Saint Petersburg, Florida, 33716-1102, United States
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My account was neglected from <span class="replace-code" title="This information is only accessible to verified representatives of company">April 22</span> until <span class="replace-code" title="This information is only accessible to verified representatives of company">December 27th</span>
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