Finance History | Raymond James — An Apartment Book on Third Avenue North
· 1962-8
Unreviewed contributionBy kevin · · updated · Report an issue
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Finance History | Raymond James — An Apartment Book on Third Avenue North
kevin
People treat Raymond James as a Carillon Parkway campus that always named a football stadium.
The first book was a mutual-fund shop in a downtown apartment.
On 16 August 1962 Robert A. James incorporated Robert A. James Investments in St. Petersburg, Florida.
The first rooms were in an apartment building on Third Avenue North.
First-year revenue was under $100,000 in 1962 dollars.
Membership on the Philadelphia-Baltimore-Washington Stock Exchange let the shop fill stock and bond orders without a New York floor seat.
In 1964 James bought Raymond and Associates from Edward Raymond, a one-year-old local firm, and agreed to put Raymond's name first on the door.
Raymond was badly hurt in a car crash soon after and never joined the combined book.
James kept the name anyway.
The firm became Raymond James and Associates.
Tom James, Bob's son, came from Harvard Business School in 1966 and took the chief's chair in 1970.
By 1968 the shop had left the apartment for an 8,000-square-foot office on Central Avenue, still in downtown St. Petersburg.
A 1969 listing plan at ten dollars a share waited out a bad tape and did not price until 1983.
The headquarters later moved north to 880 Carillon Parkway.
The first pin is still the downtown grid between Third Avenue North and Central.
The first product was mutual funds sold from a rented flat.
The name on the door belonged to a man who never worked there.
Photo: downtown Saint Petersburg, Florida, via Wikimedia Commons
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