Raymond James has set up a system in which customers` cash reserves are “swepenen” daily on the client`s investment account, in order to cover purchases or immediately start excess cash balances with the interest rate, subject to certain minimum balances. The account on which these cash reserves are held is considered a customer`s sweep account. The scanning options available vary depending on the type of account. Please read your account opening documentation, “Sweeps (Transfers) To and From Income-Producing Accounts” in the brochure “Your Rights and Obligations as a Raymond James Customer” (a recent copy of this information is available from your financial advisor, or see raymondjames.com/cash_sweep.htm. In addition, Raymond James and his affiliated brokers have established the Professional Partners Program to encourage professionals (such as accountants and lawyers) to refer their clients to Raymond James. Each professional partner is either a registered independent investment advisor or an investment advisor to Raymond James and has agreed to act as a lawyer, pursuant to a written agreement with Raymond James. This person receives a percentage of the wealth-based consulting fee in compensation for the client`s introduction. The lawyer provides the client with a separate written statement detailing the compensation agreement and the client must agree to pay the appeal fee before making any payments. On raymondjames.com you will know more about the concept of asset allocation and how it applies to your portfolio. For packaged investment products such as investment funds, pensions and 529, Raymond James uses Morningstar (morningstar.com) data to “X-ray” your holdings and allocate them accordingly.
Morningstar data is used in conjunction with Raymond James` internal product classifications to show an overview of your exposure to each asset class. Morningstar information is usually provided for products from the latest listings, so Access customers may not display real-time assignments. You will find more information about your consulting account in your customer agreement and in the ADV disclosure document that was provided to you when you opened the account.