[3] In April 2012, they merged with Morgan Keegan & Company, creating one of the country's largest full-service wealth management and investment banking firms not headquartered in New York.

[8] In September 2016, the firm announced its acquisition of Deutsche Bank Wealth Management's US private client services unit, Alex Brown & Sons.

Raymond James has four main lines of operation: private client group, capital markets (made up of equity and fixed income capital markets as well as public finance), asset management group (made up of asset management services and Carillon tower advisers) and banking.

[13][14][15][16] In 2005, the National Association of Securities Dealers fined Raymond James $2.75 million for lax supervision of producing branch managers.

The investigation began with one Raymond James manager, who worked from an office in her Wisconsin home, handling approximately 700 accounts and selling mainly mutual funds and variable annuities.

[13] On June 29, 2011, Raymond James announced an agreement to repurchase at par auction rate securities (ARS) sold to clients through its domestic broker/dealer subsidiaries prior to February 13, 2008.

[19] On May 18, 2016 Raymond James was fined a total of $17M for failing to establish and implement adequate AML procedures, which resulted in the firms’ failure to properly prevent or detect, investigate, and report suspicious activity for several years.