Your Rights and Responsibilities as a Raymond James Client

A Raymond James Client’s Responsibilities

1. A client should be forthcoming about his or her current financial situation, as well as his or her needs and objectives to assure that a financial advisor can make appropriate recommendations.
2. A client must have cash or available margin buying power in his or her accounts or arrange payment for the purchase of securities by settlement date.The settlement period for most securities transactions is three business days. A new client may be asked to make a deposit in advance of placing an order. Similarly, purchases of low-priced or volatile securities, or unusually large transactions, may require a deposit.
3. A client should read and carefully review all trade confirmations and account statements immediately and promptly to ensure that it accurately reflects all the activity you transacted with the institution and its agent for the relevant period. The client should report any errors to his or her financial advisor, the branch manager or our Client Services Department at 800-647-SERV (7378) and/or ask for clarification of anything he or she does not understand.
4. In an asset-based fee relationship, the client pays an annual fee for the advice and services provided by the financial advisor as a part of the brokerage relationship. This fee is based on the level of assets in the client’s account, independent of the level of trading activity. By deciding to pay a fee based on services provided rather than transactions, the client should understand that the fee may be higher or lower than the cost of a commission alternative.
5. Financial planning and investment literature, prospectuses and/or other offering documents, when applicable, should be read carefully prior to making purchases. Any questions should be directed to your financial advisor. You should carefully consider all investment risks and/or considerations contained in the document. In the event you do not receive an offering document or prospectus, one should be requested. The time you dedicate to this decision-making process should reflect the financial importance of the decision.
6. A client should report changes in his or her financial and personal circumstances to the financial advisor in a timely fashion to assure recommendations reflect all relevant factors.
7. A client should make time to meet with his or her financial advisor on a regular basis, at least annually, to review and possibly revise financial planning strategies and investments based upon changing circumstances.
8. A client should describe the investments made and the rationale for purchase to a spouse or other relevant family member, as well as maintain accessible records of financial plans and investment transactions. We recommend that you prepare an annual balance sheet detailing all of your investments, including their locations.
9. A client should understand all investments have some degree of risk and it is possible to lose money on any investment. Please see the section “Understanding Investment Risk” for additional information. Generally, low-priced or recently issued equity securities (initial public offerings or IPOs), and unrated or below “BBB” rated fixed income securities are considered among speculative investments. Even bonds and longer-term CDs have price risks in the event they are sold before maturity.
10. A client should seek the advice of a tax professional, CPA or attorney, as appropriate. Financial and investment planning inherently involve potential tax and legal implications. Your financial advisor is generally familiar with these implications. However, Raymond James and its financial advisors do not practice as lawyers or CPAs and cannot give specific legal or tax advice.
11. When dealing with representatives of Raymond James & Associates, only accept payments from the firm. Payment from any other business name or the representative, including cash, should be immediately reported to the institution. You should also never borrow from or lend money to a representative of a financial institution. By the same token, payment for securities transactions should be made directly to Raymond James &Associates. Financial advisors are required to have clients make checks payable only to the firm. Do not make checks payable to a financial advisor or any other entity.
12. To protect the security of a client’s financial information, a client should protect his or her Raymond James Investor Access password. Your login name and password control online access to your account information. Take all precautions to preserve the secrecy of your password. Under no circumstances will a Raymond James associate ask for your password and you should not give this information to anyone who you do not want to have access to your account.

The information in this section also appears in the brochure entitled: “Your rights and responsibilities as a Raymond James client.”