Press Release

March 3, 2008

RAYMOND JAMES INTRODUCES “INDEPENDENCE PLUS” –
GROUP HEALTH INSURANCE & ADMINISTRATIVE SERVICES
FOR AFFILIATED INDEPENDENT FINANCIAL ADVISORS

ST. PETERSBURG, Fla. – Open enrollment health insurance will now be available to the independent contractor financial advisors of Raymond James Financial Services, Inc., member FINRA/SIPC. A program exclusive to RJFS called “Independence Plus” will be introduced at the firm’s national conference in Orlando, Fla., March 9-12, 2008.

“Independence Plus” will offer two categories of service for RJFS advisors: a broad spectrum of healthcare and retirement services, and a comprehensive palette of administrative support. Powered by MyBackOffice, a proven service provider to independent contractors and small business owners, “Independence Plus” will provide a wide selection of cost-effective services from a single source.

Medical, healthcare and retirement services include: an array of group healthcare plans, health savings accounts, flexible spending accounts, major medical and dental plans in all 50 states, prescription cards, life insurance, 401(k) plans, and accidental death and disability insurance.

Administrative services include: payroll processing, direct payroll deposit, quarterly tax deposits, year-end W-2s, state/federal tax processing, reporting and documentation.

“We have looked for years to find the right mix of open enrollment health insurance with a wide range of administrative support for our independent contractors,” said RJFS Chairman and CEO Dick Averitt. “Therefore we are particularly pleased to announce this exclusive partnership with MyBackOffice (MBO). RJFS financial advisors deserve access to affordable group healthcare insurance and the other administrative services so they can concentrate on what they do best – serving clients and building their businesses.”

As members of the professional employer organization, advisors will be able to select from various major medical health plans including HMO, PPO, POS, OAP and traditional indemnity. Online enrollment is simple and there is no waiting period for group health insurance nor is there a pre-qualification requirement. Pricing is based on the large number of enrollees (MBO currently has over 60,000) and not on an individual basis, making it much more affordable and on a par with large companies’ group plans.

For administrative support services, RJFS advisors will also select from a menu of options – tailoring their program to fit their need for service. Costs are determined by the services selected. A monthly fee is charged to cover employer-mandated functions such as payroll, workers’ comp. benefits administration and government reporting.

Several RJFS advisors have already been working with MyBackOffice.

“As an independent contractor,” said Lawrence E. Cameron, an RJFS financial advisor in Winter Park, Fla., “the opportunities and solutions provided by the plan are exactly what many of us need. When I transitioned from a wirehouse environment three years ago, the one missing piece that really concerned me was access to affordable health care. I was so relieved when this program became available through RJFS. Now, my ideal situation of running my own business can continue, and I won’t have to return to a corporate world just for health insurance. The professionalism, helpful attention and understanding by the MBO staff are unique. I am happy to recommend their services to other RJFS advisors.”

“We wanted to lower our health insurance costs while increasing our coverage,” explained Chris Dikes, an RJFS financial advisor in Dallas, who uses both payroll and benefits plans. “For years as a small independent group we were only able to get high-deductible health insurance that was quite expensive. This plan has been tremendous. They answered our numerous questions beforehand, were great to work with during the enrollment period and have been easy to deal with since we signed up. They have exceeded our expectations.”

“I’ve worked as a financial advisor for 16 years - the first 11 of which were in the wirehouse environment,” wrote Brian W. Kraus, an RJFS advisor in Clermont, Fla. “Making the change to being an independent certainly requires spending more time and concentration learning your office operation skills, especially “back office” responsibilities – an area I admittedly took for granted. The time I spent on payroll and benefits seemed endless until I started working with MyBackOffice …working with them is like having an extra person on your staff.”

The official launch of “Independence Plus” will be March 9, 2008 at the RJFS national conference in Orlando, Fla.

About Raymond James Financial Services, Inc.
Raymond James Financial Services, Inc. is a national investment firm providing financial services to individuals, corporations and municipalities through more than 3,200 financial advisors in 2,000 offices throughout the United States. For more than 30 years, Raymond James Financial Services has provided a wide range of services through our affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC.

Both broker/dealers are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), a financial services holding company which has more than 4,770 financial advisors serving 1.6 million accounts in 2,200 locations throughout the United States, Canada and overseas. In addition, total client assets are currently $211 billion, of which approximately $35.8 billion are managed by the firm’s asset management subsidiaries.

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For more information, contact Anthea Penrose at 727-567-5283

Please visit the Raymond James Press Center at raymondjames.com/media.