Wrap Platform

Incorporating the Raymond James Wrap Platform within your financial services business is an exciting and rewarding opportunity to take your business to another level, with the benefit and peace of mind of our established middle and back office support and technology infrastructure. However, it is also a challenging and demanding task to develop your own advisory or discretionary investment management business alongside a mature financial services practice and as we know from our considerable experience in both the US and UK markets, there are some critical issues that you must consider.

Phase One

First and foremost, it is important that you have had the opportunity to meet with Raymond James Business Development so that we may fully understand your firm’s specific needs. We are happy to meet with you at a time and location to suit your requirements, for a confidential discussion and presentation of our systems.

Phase Two

Once we are both satisfied that there is sufficient common ground to take things forwards, you will need to consider the implications of interrupting some aspects of your daily business and preparing for a significant time and resource commitment to take your business forwards. You will also need to review your current business plan and no doubt reassess priorities and resource requirements, with particular consideration to:

  • Timescale for implementation of the Wrap Platform, including the appointment of any specialist personnel or operations expertise
  • Expected charging structure to clients, with a breakdown of fees and commissions, to produce projected gross revenue and assets under management by the end of the first 1, 2 & 3 years of operation
  • Outline of investment services and related infrastructure requirements
  • Impact to existing business workflow, terms of business, compliance and T&C regime, fee tariff, technology and CRM software

Phase Three

Having compiled a business plan, we will require some additional information from you in order to complete our own due diligence and appraisal of your business and associated activities. In particular we will ask you to complete an Appraisal Questionnaire, providing detailed information about your firm. When appropriate, the Director of Relationship Management and Business Support is introduced to address any questions regarding Raymond James’ services and support as well as contractual queries. As part of this exercise, we spend time reviewing the logistical, regulatory and operational challenges of moving your established client base and associated assets onto our platform.

Phase Four

Finally, once we are both clearly committed and ready to proceed, a Financial Intermediary Agreement will be presented for review and when you are ready, execution. This document will set out all charges, indemnities and obligations of the parties, including the rights for severance and termination. A specimen copy is available for review, when necessary. Once signed, the formal Transition process can begin.