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Business Profile

Investment Security

Raymond James & Associates, Inc.

This business is NOT BBB Accredited.

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Complaints

This profile includes complaints for Raymond James & Associates, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see

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Raymond James & Associates, Inc. has 195 locations, listed below.

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    Customer Complaints Summary

    • 10 total complaints in the last 3 years.
    • 2 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:12/20/2024

      Type:Customer Service Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Dovenmuehle, the servicer of my ARM loan with Raymond James Bank, advised me via telephone today (December 19, 2024) that they cannot discuss with me (the borrower/consumer), per Raymond James Banks instructions, anything regarding my interest rate/index on my ARM loan which was transferred to them in 2012. They have not been calculating my interest rate correctly (the published indexes via ***** *******/FTSE USD IBOR Consumer Cash Fallbacks (Term)" & going back further than the 45-day lookback period ever since July 1, 2023 when they transitioned from LIBOR to CME Term SOFR (6-month), et al. ************* the index provided by ***** *******" (whom Raymond James Bank chose as their index provider) has been going up, even after the *************** cut rates by a quarter point (25 basis points) on December 18, 2024. Instead of going down even a little bit, the index has risen. I check the published indexes daily at 6:00 a.m. when they are published on the ***** *******" website. So something is not ****** about this index provider whom they are using to calculate my interest rate. Also, a mortgage lender or servicer cannot legally refuse to speak to me on the phone if I have questions about my loan; they are required to provide reasonable access to information about my mortgage and address my inquiries, according to federal regulations governing mortgage servicing practices.

    • Initial Complaint

      Date:10/01/2024

      Type:Service or Repair Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      ****** ****** made a 25k investment i asked him if he purchased gold? Or what. No response. He then took out 40k in another investment. This is a conservative account not a risky investment. He then took 200k and invested in very speculative gold stock with no communications whatsoever. I had fired ****** just day before and he was not authoruzed to do any further purchases. HE WAS INFORMED THAT I WAS MOVING MY ACCOUNT AND MOVIBG IT IN ITS ENTIRITY. Yet he proceeded to s**** me out of 250k of money without my permission or approval. HE NEEDS TO BE CRIMINALLY CHARGED. I ENTEND TO DO JUST THAT.

    • Initial Complaint

      Date:01/15/2024

      Type:Customer Service Issues
      Status:
      Unresolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have repeatedly called Raymond James Bank requesting an explanation, in detail, of how the interest rate on my mortgage loan is now being calculated since the transition from LIBOR to CME Term SOFR. Also, there is conflicting information regarding my index rate. In their correspondence to me dated December 20, 2023 (which I did not receive until January 6, 2023), it has *******% as my index rate, but my account online shows ******% as my index rate. Also, I am continuously hung up on, accidentally disconnected, transferred to a survey recording, et al., by every single person I speak to @ Raymond James Bank. Specifically when I call their ******** phone number, not one single person there has any knowledge whatsoever & never understands anything I am asking them about. This has been an ongoing issue/problem for me for 12 years with Raymond James Bank. On Tuesday, January 9, 2023 I also called their main office in ******* & explained the situation to a man there, a so-called supervisor, & was told he would forward my concerns & questions to the most knowledgeable person who would be able to answer all of my questions. He said that I would hear back from someone that same day (January 9, 2023)Well, it is now three days later & still nobody from Raymond James Bank has reached out to me. As a ******************** I have the right to know, in detail, from the lender exactly how the interest rate on my loan is now being calculated. I did MY research trying to figure this out on my own, but it seems that all of Raymond James Banks employees (from customer service to supervisors to ones who claim to be knowledgeable about or specialize in ARM loans) could care less about their customers & cannot even make any effort to figure it out because, apparently, they know nothing about ARM loans, especially now that it has transitioned from LIBOR to CME Term SOFR. It is unfathomable that they could be so clueless & I have had enough of this company !!!

      Business Response

      Date: 01/26/2024

      The Raymond James Bank Complaint Resolution Team has been made aware of the January 16th,2024 complaint from ************************* filed with the Better Business Bureau. Please be advised that Raymond James Bank Compliance will review the matter and respond directly to *************************. We appreciate you bringing this matter to our attention.

      Customer Answer

      Date: 01/26/2024

      Complaint: 21138995

      I am rejecting this response because:

      I have given Raymond James Bank (the lender) plenty of time prior to this complaint to respond to my questions asking for a detailed explanation of how they are now calculating my interest rate since the change to CME Term SOFR as of July 1, 2023. I have called numerous times & sent numerous emails. It should not take this long & be this hard for me to get a response from them !!!

      Sincerely,

      *************************, CSR

    • Initial Complaint

      Date:01/12/2024

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      In 2020 *************************** died and I was appointed the executor. She had funds with Raymond James which were designated to be placed in the trust of *********************. Will, Court Documents were provided as well as lawyers speaking to each other. Raymond James instead used her SSN to open a new account for an estate. When requested to fix their error they have refused to abide by the will stating they need more money and lawyers. They refuse to respond to phone calls or emails. They than opened an account for the trust of ********************* but refuse to put the money in there after saying they would. I have gotten no response since September aside from a letter saying they are working. They have said the only option is to withdraw all IRAs and pay double taxes on them rather than doing the legal transfer they were told to do upon her death. I am requesting assistance in getting them to move the money to the *** provided so that I can transfer it to the new institution it was supposed to go to 1 year ago. The new place will not accept it because Raymond James has failed to abide by a will.

      Business Response

      Date: 01/14/2024

      The Raymond James Dispute Resolution Team has been made aware of the January 12, **** complaint ***************************** filed with the Better Business Bureau. Please be advised that Raymond James will review the matter and respond directly to *****************  We appreciate you bringing this matter to our attention.

    • Initial Complaint

      Date:11/10/2023

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      $250,000 of our money was invested through ************* private banking into *******. $10,000 instantly disappeared in fees/commissions. We gave instructions to them take the funds out of ******* and to deposit the funds into our bank account but instead they put the money into another investment firm Raymond James without our authorization and then sent us client relationship paperwork to sign. We told them we did not want the money reinvested into Raymond James and told them to put the money back into our bank account. They then took it out of Raymond James but never gave it back. The money is now not in any accounts and numerous requests for the funds to be returned have gone unanswered. I see that this is just one of many similar complaints about these banks/firms. Instead of investment firms they should be called divestment firms.

      Business Response

      Date: 11/10/2023

      The Raymond James Dispute Resolution Team has been made aware of the November 10, 2023 complaint ************ and *************** filed with the Better Business Bureau. Please be advised that Raymond James will review the matter and respond directly to Mr. and Mrs. *********** appreciate you bringing this matter to our attention.

    • Initial Complaint

      Date:08/25/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      My Aunt, *******************, has investments with *************************. My aunt passed away in June, 2023. I am her beneficiary. **** has ignored all inquiries from me for many months on how to start the process of securing these investments that I have inherited. I have a death certificate. I have called Raymond James and am told that I must work with *************************. I have written **** letters and I have sent him emails. I have left him voicemail messages. He does not respond at all! I have walked into his office and not a soul was in sight anywhere. There is a reception desk in his lobby with a phone on it to call ****. You call and get his voicemail. I left a message and have heard nothing. This company, Raymond James, appears to have no quality control or accountability.********************* ************************* **************************************************************************** T ************ F ************ Email **************************************************** Email ************************************************************** ********************************************************* VICE ********** ********************* BRANCH MANAGER, RJFS

      Business Response

      Date: 08/28/2023

      The Raymond James Dispute Resolution Team has been made aware of the August 28, 2023 complaint Mr. ******************************* filed with the Better Business Bureau. Please be advised that Raymond James will review the matter and respond directly to ********************. We appreciate you bringing this matter to our attention.

    • Initial Complaint

      Date:08/17/2022

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      January 17, 2022 my mother passed away. She had a CD account with Raymond *****. There are five beneficiaries to her account: I and my four children. Raymond ***** requested a death certificate in order to close her account. The death certificate was delivered. Time went by and they sent five page forms to all beneficiaries to fill out with very detailed information including social security numbers, occupations, annual income, addresses in order to "close her account and distribute the capital." Then a request for identification verification came in from Raymond *****. This was fulfilled. Then more death certificates were requested for the banks that held the CDs, this too was fulfilled. Meanwhile account statements kept coming in for my dead mother's account (which according to Raymond ***** had been closed). To date there has been NO capital distribution only statement so in effect it looks like they forced the beneficiaries to open new accounts which seems like a duplicitous action since the process was not explained to the beneficiaries. Note In June 2020 (two years ago) the total capital in mom's account was: $408,548.05 Just two years later it was: $230,421.64. What happened to all that capital ? The beneficiaries are asking for a possible audit and a final distribution of the funds. After all it has been eight months of not releasing funds. Legally can the beneficiaries charge Raymond ***** interest for the eight months of manipulating their capital funds? Account numbers: XXXXXXXX. I am enclosing copies of account statements.

      Business Response

      Date: 09/01/2022

      Business Response /* (1000, 5, 2022/08/22) */ The Raymond ***** Dispute Resolution Team has been made aware of the August 19, 2022 complaint Ms. ****** ****** filed with the Better Business Bureau. Please be advised that Raymond ***** will review the matter and respond directly to Ms. ******. We appreciate you bringing this matter to our attention. Consumer Response /* (3000, 7, 2022/08/27) */ (The consumer indicated he/she DID NOT accept the response from the business.) The money that was raised from the CD investments created too big a difference in sums as shown by the almost 200K loss. CDs are not stocks that go up and down. Once a CD is bought the sum of the CD is locked in even though the interest rate may fluctuate. So the losses in these past transactions need a competent explanation. A financial planner is to do his best for the client as stated in the client and company agreement contracts. Otherwise the company exists only to rob the client. Business Response /* (4000, 9, 2022/08/29) */ The Raymond ***** Dispute Resolution Team has been made aware of the August 27, 2022 complaint Ms. ****** filed with the Better Business Bureau. Please be advised that Raymond ***** will review the matter and respond directly to Ms. ******. We appreciate you bringing this matter to our attention. Consumer Response /* (4200, 11, 2022/08/31) */ (The consumer indicated he/she DID NOT accept the response from the business.) It has taken the ****** family to get to this point of asking Better business's help. It has been 8 months of filling out paperwork, no real explanation for the dollar losses. The financial planner would give general dates of ending the paperwork requirements"a few months," "Six months" now it has been 8 months. Other financial institutions upon presentation of Death Certificates immediately released funds. Not Raymond ***** as I said weeks, months of different forms to fill out. Huge delays, huge losses, such an incompetent institution.

    • Initial Complaint

      Date:08/01/2022

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Have had money invested with Gary Stringer at Raymond ***** Greenwood , IN for a few years. From January to May of this year our two accounts lost 26%. Stock market Dow Jones only down 14% . Total mismanagement of our account .

      Business Response

      Date: 08/26/2022

      Business Response /* (1000, 5, 2022/08/04) */ The Raymond ***** Dispute Resolution Team has been made aware of the August 1, 2022 complaint filed by *** and Nell ***** with the Better Business Bureau. Please be advised that Raymond ***** will review the matter and respond directly to Mr. and Mrs. *****. We appreciate you bringing this matter to our attention. Consumer Response /* (3000, 7, 2022/08/14) */ (The consumer indicated he/she DID NOT accept the response from the business.) We have no faith that Raymond ***** will ever contact us. We originally called them , then we sent written. To date ( X-XX-XXXX) they have totally ignored us ! Not a very reputable company with your life savings , company . Business Response /* (4000, 9, 2022/08/17) */ We are in the process of analyzing this matter and will respond to Mr. and Mrs. *****'s concerns accordingly. Consumer Response /* (4200, 11, 2022/08/21) */ (The consumer indicated he/she DID NOT accept the response from the business.) The only thing we will except from Raymond ***** misuse of our funds is a check for the amount of miss management .

    • Initial Complaint

      Date:07/05/2022

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      My uncle removed me and my sister from grandfathers will (as well as the other grandchildren) days before his passing, and kept/maintained the $5m funds as an investment broker. Seeking: 1) filing complaints at FTC, SEC, finra, Tennessee BBB, TN commerce board. MARK BILLINGS RULEMAN CRD#: XXXXXXX IA Investment Adviser B Broker Regulated by FINRA INDEPENDENT FINANCIAL GROUP, LLC CRD#: 7717 6000 POPLAR AVE STE. 250 MEMPHIS, TN XXXXX Ruleman Asset Management & Planning 6000 Poplar Ave, #250 Memphis, TN XXXXX fax: XXX-XXX-XXXX https://www.markruleman.com/ 2) file TN and federal lawsuit against Mark Ruleman (This event happened in past (Dec 2013, but just became aware today. Need legal filings soon, as it's still within 10 years of event)

      Business Response

      Date: 08/26/2022

      Business Response /* (1000, 19, 2022/08/12) */ The Raymond ***** Dispute Resolution Team has been made aware of the July 7, 2022 complaint Hart ********** filed with the Better Business Bureau. Please be advised that Raymond ***** will review the matter and respond directly to Mr. **********. We appreciate you bringing this matter to our attention.

    Raymond James & Associates, Inc. is NOT a BBB Accredited Business.

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