Financial Perspectives – Summer 2009

Raymond James Ranks First in SmartMoney Survey

Good News in Tough Times

Communication. Clarity of statements. Quality advice. These important aspects of a client-advisor relationship are among the characteristics measured by a recent study published by SmartMoney magazine, in which Raymond James ranked tops among full-service broker/dealers for the second year in a row.

Based on the magazine’s own research, as well as information from outside firms such as Zack’s Investment Research and J.D. Power and Associates, Raymond James was recognized for customer satisfaction and the quality of its brokerage statements and website.

Our goal is to support you and your financial advisor as you work to reach your financial goals. We’re pleased to be recognized for our efforts, but we know there’s always room for improvement. Rest assured we won’t stop working hard to continue to earn your trust, confidence and business.

SmartMoney does not endorse any product or service of Raymond James. Past performance is not indicative of future results.

There is no assurance any of the trends mentioned will continue in the future.

Raymond James & Associates and Raymond James Financial Services are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF).

The information contained in this newsletter has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. We may, from time to time, have a position in the securities mentioned and may buy or sell such securities in the course of regular business.

Diversification and asset allocation do not ensure a profit or protect against a loss. U.S. government bonds are guaranteed by the U.S. government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. U.S. government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Municipal bond interest is not subject to federal income tax but may be subject to AMT, state or local taxes. Brokered CDs involve market risk regarding their principal value, unlike traditional bank CDs. If a brokered CD is sold prior to maturity, the value of the CD will be subject to market fluctuations. This could result in a significant loss from the initial investment amount. Preferred securities are considered fixed income investments as their income payments are fixed over the term of the investment and will react similarly to other debt investments to changes in the market conditions.