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A flexible framework brings advisory services into focus

Financial and advisory services are selected from the broad array of alternatives provided through Raymond James, and brought together to meet your specific needs. For most clients, we recommend a blend of traditional brokerage accounts and fee-based* programs that form a framework designed to maximize the relative advantage of each approach and minimize expenses.

Asset allocation analysis and portfolio performance reporting is provided at the "macro" level (the overall framework of accounts) and at the individual account level. For example, you may have a traditional brokerage account that holds low cost basis stock and fixed income securities. You may also have a separate fee-based, managed equities account. Since it is important to know how each of the accounts is performing compared with relevant benchmarks, we provide performance reporting for the individual accounts. Since it is also important to know how the assets are performing in total, we provide ongoing reporting for the overall household of accounts.

When appropriate, assets are managed through the Managed Investment Program (MIP) of Raymond James. In MIP, we provide active portfolio management in a wrap fee account with no transaction costs. The account is managed on a fully discretionary basis. Comprehensive reporting and regular communication keeps you fully informed of the status of your portfolio.

MIP accounts are managed for the individual objectives of each participating client. Separate fee schedules are provided for equity and balanced portfolios.  MIP accounts may not be suitable for all investors.

*  In a fee-based account clients pay a quarterly fee, based on the level of assets in the account, for the services of a financial advisor as part of an advisory relationship. In deciding to pay a fee rather than commissions, clients should understand that the fee may be higher than a commission alternative during periods of lower trading. Advisory fees are in addition to the internal expenses charged by mutual funds and other investment company securities. To the extent that clients intend to hold these securities, the internal expenses should be included when evaluating the costs of a fee-based account. Clients should periodically re-evaluate whether the use of an asset-based fee continues to be appropriate in servicing their needs. A list of additional considerations, as well as the fee schedule, is available in the firm’s Form ADV Part II as well as the client agreement.

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