Press Release

November 2, 2009

RAYMOND JAMES REPORTS POSITIVE
FISCAL YEAR-END RECRUITING RESULTS

ST. PETERSBURG, Fla. – The Private Client Group of Raymond James Financial (NYSE-RJF) reported another positive year of recruiting results for fiscal year ended September 30, 2009.

The firm’s two broker/dealers, Raymond James & Associates (RJ&A), member New York Stock Exchange/SIPC, and Raymond James Financial Services (RJFS), member FINRA/SIPC, together recruited over 750 experienced financial advisors with more than $35 billion in assets and over $250 million in historical gross revenue.

RJ&A, the traditional employee arm of the firm, continued to attract high-level advisors from wirehouse firms and hosted a record number of them at its headquarters this past year. The Independent Contractor Division (ICD) of RJFS saw record results with the number of wirehouse recruits increasing almost four-fold over 2008.

The Financial Institutions Division of RJFS posted another record year in new bank affiliations and advisors. In 2009, the division affiliated with nine new institutions in nine different states, including Bremer Bank, one of the largest community-based bank brokerage programs in the country, and added 135 new financial advisors to its ranks both through new affiliates and existing partner financial institutions.

“These results continue to reinforce the fact that Raymond James offers an extremely attractive home for top advisors whether they choose to be an employee, an independent contractor, RIA or operate in a bank-based investment program,” stated Chet Helck, chief operating officer of Raymond James Financial. “In spite of last year’s extraordinary economic conditions, our client assets under administration grew 13 percent and securities commissions and fees were up 9 percent overall, which we attribute to our recruiting success and fully expect to exceed in 2010.”

About Raymond James Financial

Raymond James Financial (NYSE-RJF) is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three wholly owned broker/dealers (Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd.) and Raymond James Investment Services Limited, a majority-owned independent contractor subsidiary in the United Kingdom, have a total of more than 5,300 financial advisors serving approximately 1.9 million accounts in more than 2,300 locations throughout the United States, Canada and overseas. In addition, total client assets are approximately $223 billion, of which $29 billion are managed by the firm's asset management subsidiaries.

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For more information, contact Anthea Penrose at 727-567-2824.
Please visit the Raymond James Press Center at raymondjames.com/media.