Raymond James Financial Sucks Customer Reviews and Feedback
Raymond James Financial is an American multinational independent investment bank and financial services company providing financial services to individuals, corporations and municipalities through its subsidiary companies that engage primarily in investment and financial planning, in addition to investment banking and asset management.
An employee shared this in a forum, "Terrible customer service in trying to get a final payment refunded to me which they took out after I traded the vehicle in. Have continually lied and made up stories about when I will receive this money back. Have been given three different check issue dates and all correspond with my inquiry phone call date. Ridiculous wait times on phone each time, no return calls as promised as well as condescending attitude from management. I would not recommend this bank to anyone. In reading many of the other reviews on here, I am sure that I am not alone. Do yourself a favor and look elsewhere for your banking needs."
Former Employee - Head Cashier says"not very good environment for working"
Former Employee - Systems Administrator says"Outdated policies, less local hires but they increased contractor hires. They have hired so many « senior » managers and « senior » VP’s. They have forgotten to take care of their team. The place was great when I first started, now it’s another terrible, toxic, corporate environment. Don’t waste your time, it’s only good if you’ve been there 20 years. No promotions, no pay raises that keep up with inflation. You typically will not get promoted and you will not be able to transfer"
Current Employee - Wealth Planning Consultant says"Poor compensation and culture of ignoring favoritism. My female manager has only hired or given promotions to other females. It's trended so badly I may leave after working here for 10+ years."
Former Employee - Anonymous Employee says"Some Middle/Senior leadership is disrespectful, dismissive, inconsiderate, and manage/lead with fear based tactics that create anxiety and distrust. Most folks in Operations are petty, defensive, passive-aggressive and judgmental. Human Resource department does not support employees or seek to provide/communicate solutions. Management will make your life difficult if they do not like you, even if you do your job well and take on others' work. Training is lackluster and sink/swim mentality. Procedures are outdated. Held accountable for everything even when no training provided."
Current Employee - Anonymous Employee says"Geez, where do I even begin. I should preface I am NOT in an entry level position, so these are not the typical “call center” complaints or the like. This is coming from a person who really understands this company. The structure: the structure is not only incredibly inefficient, it’s also dangerous from a regulatory perspective. No one knows what another team is doing (and I’m not talking about places that need a “Chinese wall”) I’m consistently amazed at how long very important issues take to solve, issues that could easily result in fines for the firm or losses for a client/introducing broker dealer. It’s not uncommon that it can take 2 months to resolve and issue and my temporary solution has to be “just keep doing what you’re doing because it’s either that or stopping a instrumental part of your business entirely.” From a risk standpoint It’s scary how lenient the firm is with its financial advisors and introducing b/ds due to their structure. After having seen what I have seen I would not be caught dead having my money managed by anyone associated with Raymond James. It’s incredible how relationship managers have the such a major part in the final say in disciplinary actions against malpractice by the aforementioned parties. The people: I have never has the displeasure of working with more terrible people. Don’t get me wrong, if you are a cut throat go getter you will love it here. But if you are a good and decent person who wants to work hard but also not kill them selves or others to do so, then you are in the wrong place. If you cannot help someone get ahead you are nothing to them. It is incredibly common I hear/see complete disregard for people if they are not in a place of power. (This is coming from a person in power FYI, so I can see it first hand) People here believe they are a “brand” (I’m not kidding. This is something I have literally heard countless times) Obviously there are some kind individuals who work here, but for the most part you will be sorely disappointed with your co-workers and bosses. There is NO cooperation between teams or people. Why? Because they are all so obsessed with their image that they are too scared to take on any sort of responsibility. The benefits: Abysmal.... the pay is averageish, however, they are cutting costs and their ability to pay competitive salaries is fading. But let’s say that you do get a competitive salary, great! Now you have to deal with the cap on raises between positions. It used to be that if you were promoted in the company to a new pay grade you could look at a max of around a 16% raise.... now the max you are looking at is around 8%.... this is not just my experience, this is the experience of all my co-workers AND straight from the horses mouth in HR when I questioned it. The time off is terrible for a finance firm... 2 weeks of paid time off per year and 2 personal days. Not only is that terrible for most any financial company, but when you see how terrible the work life balance is here you’ll hate it even more. The work life balance: It’s average to work 60 hours here on salary, no extra for overtime and as I said, since raises are capped so low you aren’t working towards anything more than a few extra dollars after a few years. The culture: if I have to hear this company brag about moving up on the Fortune 500 list one more time I will lose my mind.... I have worked for 3 Fortune 500 finance firms... none have even been close to this bad. They brag about their revenue while cutting costs. The associate surveys? Haha yeah no... we had an entire firm wide meeting dedicated to the associate surveys people filled out... I assumed they scheduled it because the reception had been so terrible (I know for a fact many employees are pissed off currently about the company) they blatantly said to our faces “it’s been fantastic to see such positive reception to our changes as per the responses in the survey.” Why is this? Most likely because it goes back to these people protecting their brand... god forbid someone relays that their employees aren’t happy to the big men upstairs. Honestly, I could keep going on, I really could. I’m actively looking for other positions and IMPLORE you to do the same."
Current Employee - Manager says"The "Global Wealth Solutions" department is rife with favoritism, cronyism, and constant politics. There are many unnecessary and overpaid managers who aren't contributing and the few specialist's who are face back breaking work volume and poor compensation. Two older white male Case Consultants are compensated $50k more than their counterparts with the same credentials, or over 50% more for doing the same job. Despite this, they were recently given promotions other team members never had an opportunity to apply for. There is no clear plan or philosophy across the department, though some units in this department have great managers and high morale while other teams have one foot out the door. Work life balance is non-existent. Raymond James chooses to undercompensate their Wealth Strategist's and Wealth Management Consultants far below industry peers, but demand the same level of activity. It makes them very uncompetitive adding new talent and contributes to a toxic work environment where demands often outweigh recognition/compensation and associates become jaded over time. Promotions are rare and there is not a defined career track or attempts to create one."
Former Employee - Fee Based Senior Associate/Sales says"My time at RJ was, in short - strikingly similar to the film Office Space. The culture is one of the most deplorable you can imagine. Management is an utter disgrace in terms of respect, training, career guidance, and aptitude. HR is so compliance-driven when my issue of harassment was brought to light, not a thing happened. You are truly a number, and are very replaceable. This is made evident from day 1. If you are a young male with a relevant degree, have a successful family member in the financial world, or are enough of a good-old-boy to make it by, you'll do fine."
Former Employee - Client Solutions Associate says"Poor management and very toxic environment where gossip, ostracism is a thing. If you haven't been an assistant before they have a zero tolerance policy for errors, and no structured training. No potential growth as the office is small and only has assistants and advisors. Income is low and below industry area average. Abuse by advisors is generally accepted. Not an environment for progressives as it is a very conservative old fashioned office culture."
says"Poorly managed. Upper management in Advisor Tech team lacks technical experience and communication skills. Bad management is reflected in every product and project. Teams lack tech experience and when offered they turn their noses and try to push employees out. Their only expertise is in creating power point docs. Horrible 401k plan with no matching. The worst healthcare coverage that I’ve ever seen for such a large company. When they interview they promise everything yet the reality is nothing even close. I was really surprised at how technically backward this company was. No remote work despite modern tech capabilities even in an emergency. HR does nothing for employees who’ve been mistreated. Advisor Technology team is a joke with awful, biased attitudes and poorly managed budgets and constant staff cuts. They are not even aware of their budget let alone how to manage it. The management have no direction or any idea on how to run a team or train associates. They create redundant mundane tasks and the team has no proper background. They are reluctant to train associates yet will spend money on lavish hotels for themselves and attend conferences not letting anyone else have a chance. Anyone who tries to make a difference or change their old attitudes will get thrown out. Just glossy power point is all they do. They are unable to support or manage their products and heavily rely on Dev Teams for everything. No training and no concern for their employees."
Current Employee - Systems Administrator says"long hours, unorganized, oncall every other week, weak managment,conf bridge calls no skype or any real collaboration tools than 1990 conf calls lol"
IT Specialist (Former Employee) says"Fear based. Advancement only possible if you golf with the right men. All white male leadership. Notre Dame, Military academy grads get the top positions and keep it that way. IT is extremely toxic. Avoid if you want to be a valued team member. Micromanagement and resultant turnover are out of control.NoneOld fashioned and not willing to move into 21st century"
Cost Basis Associate (Contract) says"The Cost Basis department is a dysfunctional one where the supervisors rule by fear. Turnover is high so they keep hiring contractors. Managers and supervisors play favorites and gossip. Before hiring people, the department does not seem to conduct background checks. Newcomers are not welcomed and are treated as though they should know what they've not been told about, else they are either humiliated or are spoken to in a condescending way. There's a lot of micromanagement to the extent of analyzing every question asked and every bathroom break taken. Clearly, this is a power game and you're always walking on eggshells. Certainly this is not a place for someone expecting professionalism, learning new skills or building a network. The environment is toxic and absolutely no one is trustworthy. All of this is coming from an experience of working as a contractor at this place for 2 months to cover for being understaffed."
System Administrator (Former Employee) says"This place is like the Red Lobster of the '80's...old, outdated and riding on a good reputation they once had decades ago. Do you like getting credit for your ideas? If so, don't work here as management will steal your ideas in a heart beat. Do you like decent benefits and wages? If so, Raymond James is not for you - the wages here are very sub-par, no 401k match, and you cannot pick what stocks you invest in. Out of their competitors, Raymond James is ranked 9th out of 10th - they make this up to the shareholders by keeping pay and benefits low. Check out the competition, like Fidelity, they have amazing benefits and pay way more. Do you like your weekends off? If so, don't work here as you will be working at least 80 hours a week. Remember how "click-y" high school was? Welcome to Raymond James High - unless you have worked here a minimum of 15 years, and are on a first name basis with all the VP's - good luck getting anything done. Be prepared for a fear based culture...most people on my team were divorced, extremely overweight, and suffered from anxiety or depression. Dare I mention the unusual rate of cancer and severe health issues? Do not get old or sick here - they will find ways to get rid of you. There is absolutely no family balance and unless you have the most understanding spouse ever, - you will end up divorced. Do you want to be valued as an employee? If so, go somewhere else. Do you like spending time with your kids, especially when they are sick? If so, don't work here as any sick day you take for your kid, they will say you are "not reliable" and dock you"
System Administrator (Current Employee) says"Raymond James is the Red Lobster of the finance Industry - it was good in the ‘80’s and is quickly going down hill. Do not work here, management is terrible, there are no incentives, bonuses are a joke. I spent over 8 years here and there is no room for growth. If management can steal your ideas, they will. Raymond James is run like a highschool - petty, and unkind. If you want to learn about the industry - go somewhere else"
New Accounts Associate (Former Employee) says"The back office of Raymond James does not care who they hire. I am confident a proper background check was not done on anyone specifically in the New Accounts department. They are just hiring anybody to fill a seat. Most of the new hires would do and say things that should not be done in a professional work environment. Most of it is overlooked by management or encouraged. More than Half of the time the supervisors were the problem. Workers did not care what they were doing or how they were doing it. This puts pressure on the few good employees to do the work properly. This resulted in constantly correcting their errors. Work life balance is non existent. If you work over time constantly you will be promoted even if you lack the basic understanding of the job. Also, you will only get promoted if the supervisors like you. Training is severely needed for the supervisory team. I can’t stress this enough or just get qualified people. If you are a hard worker, a good person, looking to advance your skills, please do not work here. You will be beaten down and under appreciated."
Cashier/Administrative Assistant (Former Employee) says"Everyone was a bigot and sexist. They made it well known. Constantly racial profiling in the worst sense. I had to be reminded about dressing extra conservative (beyond the dress code) because a certain male employee was spending his day looking down my shirt. I was told I could not take my first vacation in 3 years because my boss thought my overseas trip was too extravagant."
Executive Service Associate (Current Employee) says"Two of the three gentlemen are ok but the manager is not a nice human being which makes him a worse boss if that’s possible. No reviews ever, no pay raise ever, no dental insurance, no 401k. What can I say it’s just a job and horrible one at that."
Client service associate (Former Employee) says"Worst job ever, type of place that can put you off all back end financial services work. Paper pushing. Horrible unprofessional management, that had backing of a passive aggressive "complex manager." No training, Generally toxic environment with conservative culture. Advisors abuse admin staff with no reprimand. Not sure why they require licenses. The work is office work at its most accurate definition.NothingDead end administrative work masked by deceptive job description"
Account Representative (Former Employee) says"Fire people becuase they dont want to deal with complaints about other employees of different race. If you file a complaint against an employee and you are of a different race just watch out becuase you will be the one to be fired because they do not want to deal with discrimination"
Managing financial sales representative (Former Employee) says"You will never become top management unless you are white southerners from certain colleges as a employee if legal issues arise They protect themselves and bury the employeesNoneToo many poor management don’t care about you"
Project Consultant (Current Employee) says"Be very careful if working for Raymond James. They play favorites in all departments. There is no loyalty and working hard doesn't get you anywhere except the unemployment line."
Warehouse Associate (Former Employee) says"Management felt that you were replacable, therefor did not treat you very good. I had seen them replace a good worker with a friend, therefore no securityNothingEverything"
Sales Associate (Former Employee) says"Only took the position to have a job and bring in some money between jobs. Very low pay and no possible way for advancement. Worked for three managers and was told at interview it would be more money but as it turned out it was not. The business fell off greatly and they could not afford to keep me."
Cashier (Former Employee) says"I would not recommend this to a friend. The work environment is surface level friendly, and the hours are tough for relatively little pay. There are other firms in the area"
Account Service Team Associate (Former Employee) says"Management has no control over the conduct of their employees. In the RPS Department, they actually have a name for these 2 Associates that bicker all day. Stay AWAY!,,Decent salaryThe most unprofessional people work there"
Client Service Associate (Former Employee) says"I only worked for this company for 6 months, I didn't have very many duties so I was bored, answered the phone and file, I have to have a position that will keep me busy."
Accountant (Former Employee) says"Management stinks and there is a constant high school clique quality about the firm. Work is constantly dumped on associates who are already swamped while others are allowed to surf the web all day. Certain people get away with everything while others are hounded constantly. Turnover is extremely high here so beware.Made great friends here but they left tooManagement ran by incompetent buffoons"
Black listed no degree! (Former Employee) says"Only want people who have degrees even if the work is in the mail room. What a joke! They only care about people who can get jobs with their degrees but the ones who have trouble finding work can't get in!NothingBlack listed"
Corporate Imaging Associate (Former Employee) says"Worked in Corporate Imaging. One word Horrible management. She is a slave driver for little pay. Not matter how much you do in a day it's not enough. Expect management to talk about you behind your back. Expect drama to be create to try to get you in trouble, especially if you are a temp. Pay is extremely low for the type of company this is, especially with the type of client information you have access to.The building are an art galleryManagement is awful"
Campus Recruiting (Former Employee) says"The RJ HR department is a disaster so do not waste your time by applying. The turnover is staggering and employee satisfaction is the worst. Everyone in Tampa/St Pete that works in the HR space knows not to work for RJ. Again, DO NOT waste your time."
dee says"this company has called me 5 times in 1 week. on the first call, i asked the rep how she got my info which she wouldn't answer but kept asking me was i 65 or older, and i kept saying NO! she finally hung up. i am 50 y/o old. not ready for medicare yet. please stop calling 816-569-1400. i have turned you into the better business bureau for constant harassment or whatever hey will check into this business on. PLEASE STOP CALLING. attaching this to my now second complaint to BBB. #1-8--787-6261(2X); 1-800-787-7552(3X); i TALKED to 3 different ppl from ur company when THEY answered the phone when I 2-3xs. doesn't matter, have already reported you to BBB. THIS IS HARASSMENT. NIOW YOU EMAILING ME TO DEATH!!! STOP EMAIL ME!!! DELETE MY EMAIL ADDRESS. WILL BE ADDED TO MY SPAM. BBB SHOULD BE CONTACTING YOU AGAIN, OMCE I SEND THIS NEW UODATE IN. STOP A--H---! STOP!!!!"
Harley Holt says"Just wanted info on line and got dozens of phone calls to the point of annoying"
Lidie Barbara says"I was misadvised on new co pays and requirements under a new plan funding they directed me to a policy with much higher co pays. I tried to call them to discuss and was hung up twice by a Greg. Do not do business with this company."
Michael Schrager says"Humana keeps sending me to doctors who are no longer taking new patients."
GerryScottCFP says"Vince Murton, VP, Professional Wealth Advisory, Retirement & Financial Planning, Raymond James Ltd. discusses: Fin… https://t.co/ICyDSitcqy"
ThinkAdvisor says"LPL Financial and Raymond James reported declining profits and revenues in the period ending June 30. On the plus s… https://t.co/39a1RQc5ce"
TargetPrices says"$DLR latest ratings on 2020-07-31 at Stock Target Advisor https://t.co/H7LVaEB63a : Raymond James Financial (Upgrad… https://t.co/pAlwCatzap"
TargetPrices says"$BC latest ratings on 2020-07-31 at Stock Target Advisor https://t.co/osZ8QN8FMc : B. Riley (Reiterated by), KeyBan… https://t.co/8g6qhzaHOW"
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