Raymond James & Associates, Inc.

Registered investment adviser · St. Petersburg, FL · CRD #705

Form ADV data as of 2026-09-01

Regulatory assets

$500.96 billion

Total accounts

1,143,145

Employees

16,780

Disclosure events

172

Firm details

Website: https://www.alexbrown.com
Telephone: 727-567-1000
SEC file number: 801-10418
Most recent Form ADV filing: 2026-06-26
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm reports 12 disclosure questions answered Yes, covering 172 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.

SEC or CFTC found a false statement or omission
SEC or CFTC found a violation of its regulations or statutes
SEC or CFTC entered an order in connection with investment-related activity
SEC or CFTC imposed a civil money penalty or a cease-and-desist order
Another regulator found a false statement, omission, or dishonest, unfair, or unethical conduct
Another regulator found a violation of investment-related regulations or statutes
Another regulator entered an order in connection with investment-related activity (past 10 years)
Another regulator denied, suspended, or revoked a registration or restricted activity
A self-regulatory organization found a false statement or omission
A self-regulatory organization found a violation of its rules
A self-regulatory organization expelled, suspended, barred, or restricted the firm
Currently subject to a regulatory proceeding that could result in a disclosure under 11.C., 11.D., or 11.E.

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$378.68 billion
Non-discretionary regulatory assets under management	$122.28 billion
Total regulatory assets under management	$500.96 billion
Discretionary accounts	985,700
Non-discretionary accounts	157,445
Total accounts	1,143,145
Regulatory assets under management attributable to non-U.S. persons	$6.84 billion

People

Total employees (excluding clerical)	16,780
Employees performing investment advisory functions (including research)	5,683
Employees who are registered representatives of a broker-dealer	7,870
Employees registered as investment adviser representatives with a state	5,683
Employees registered as IARs for another investment adviser	0
Employees who are licensed insurance agents	3,858
Firms or persons who solicit advisory clients on the firm's behalf	153

Custody

Has custody of client cash or bank accounts	Yes
Has custody of client securities	Yes
Client funds and securities held in the firm's custody	$269.78 billion
Clients for whom the firm has custody	266,517
A related person has custody of client cash or bank accounts	Yes
A related person has custody of client securities	Yes
Client funds and securities held in a related person's custody	$189.76 billion
Clients for whom a related person has custody	420,853
The firm acts as a qualified custodian	Yes
A related person acts as a qualified custodian	Yes
Number of persons acting as qualified custodians for the firm's clients	64

How the firm is compensated

A percentage of assets under managementHourly chargesFixed fees (other than subscription fees)Commissions

Advisory services offered

Financial planning servicesPortfolio management for individuals and/or small businessesPortfolio management for businesses or institutional clientsPension consulting servicesSelection of other advisers (including private fund managers)Educational seminars/workshopsOther

Other business activities

Broker-dealer (registered or unregistered)Insurance broker or agentRegistered municipal advisor

Affiliated related persons

Broker-dealer, municipal securities dealer, or government securities broker or dealerOther investment adviser (including financial planners)Registered municipal advisorBanking or thrift institutionTrust companyInsurance company or agencyPension consultantSponsor or syndicator of limited partnerships

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Buys securities from or sells securities to advisory clients (principal transactions)
Buys or sells for itself securities it also recommends to clients
Recommends securities in which it has another proprietary interest
Executes agency cross transactions involving advisory client securities
Recommends securities for which it serves as underwriter or general partner
Recommends securities in which it has another sales interest
Brokers or dealers selected under 8.C.(3) are related persons
Recommends brokers or dealers to clients
Brokers or dealers recommended under 8.E. are related persons
Receives soft dollar benefits
Compensates a non-employee for client referrals
Provides employee compensation specifically for obtaining clients
Receives compensation from others for client referrals

Client types

Type of client	Clients	Assets
Individuals (other than high net worth individuals)	413,527	$116.07 billion
High net worth individuals	99,598	$288.72 billion
Banking or thrift institutions	710	$1.82 billion
Pension and profit sharing plans (not the participants or government plans)	9,726	$46.10 billion
Charitable organizations	196	$1.05 billion
State or municipal government entities (including government pension plans)	117	$4.82 billion
Insurance companies	385	$2.35 billion
Corporations or other businesses not listed above	7,358	$40.02 billion