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eFolioPlus®

eFolioPlus® is one of the first online, interactive portfolio management systems – developed exclusively for our clients. In today’s financial climate, securities are more complex, regulations are more demanding and the marketshare more diverse. eFolioPlus® is an indispensable tool for placing information at your fingertips and results on your laptop. Anytime, anywhere!

Institutional Sales

We are positioned to uncover opportunities in the agency, mortgage-backed, corporate and municipal markets.

Trading

We stay focused on your objectives as we put our experience to use in closing a deal and exceeding expectations. Our capabilities extend from municipals to corporate bonds and more.

Research & Strategies

Rigorous research has always been a key investment of Raymond James, allowing us to pursue your strategic goals with precision.

Institutional Sales

Broad expertise, focused service.

Raymond James takes your business personally, continually striving to provide the highest-level products and services available – more resources, more experienced support and more attention to individual needs.

Banks

You work hard to stand out from your competition, providing your clients with value-added services and a personal touch. At Raymond James, we go out of our way to provide you with services that are tailored to you and your investment portfolio.

With one of the largest Fixed Income research departments in the industry, Raymond James is in a unique position to evaluate new product offerings, spot relative value and uncover specific market opportunities in the agency, mortgage-backed, corporate, municipal, interest rate derivatives and SBA markets.

In addition to our interactive portfolio manager, eFolioPlus®, Raymond James’ Reportfolio®, our accounting and reporting service, interfaces with online information to provide multiple investment accounting updates, market value and cash flow graphics, market value shock analysis, dynamic situation simulation and more. This system accounts for complex securities – such as CMOs, adjustables and zeros – as well as less structured products. Now, multiple investment accounting updates, market value and cash-flow graphics, market value shock analysis, dynamic situation simulation, and more comes your way via eFolioPlus® and Reportfolio®.

Our comprehensive suite of bank services includes asset/liability management, loan evaluation and trading, asset optimization, strategic growth modeling, wholesale funding-brokered CDs and educational conferences (Bond School, Economic & Strategy Seminars).

Insurance Companies

Raymond James is one of few regional firms with a dedicated group to research and report on the specific fixed income products of interest to the insurance industry. We continually cover developments in the agency, mortgage-backed, corporate and municipal markets to provide commentary on strategy, credit and regulatory issues facing insurance executives.

We are also equipped with both the personnel and the proprietary software to develop comprehensive portfolio analysis and balance sheet strategies for life, health, and property & casualty insurance companies, each designed to optimize returns within the bounds of liability and investment policy constraints.

Customized reports provide the basis for specific recommendations and include Benchmark Comparison & Evaluation, S&P Convexity Test, A.M. Best BCAR, A.M. Best BCAR, Peer Comparison & Analysis and more. Let us show you how our focus on the needs of insurance companies can benefit your practice.

Money Managers

As a money manager, you take pride and ownership in how you handle your client’s portfolio. So do we. With a research team staffed with CFA charter holders, CPAs, CMTs and former money managers, we excel at evaluating portfolio composition and identifying relative value in the marketplace. Our analysts, among the most experienced and knowledgeable in the industry, keep a watchful eye on developments in the agency, mortgage-backed, corporate and municipal markets.

We provide strategies for your portfolio based on factors including curve position, asset allocation/security selection, and duration of management, offering a variety of market research and strategy reports to communicate ideas and monitor performance. Raymond James clients also value the wisdom of our consulting economist, Dr. Eugenio Aleman, who keeps an eye on interest rates and key indices, and reports his economist forecast monthly. We match all of this expertise with a superior level of customer service that puts your best interests first.

Credit Unions

Credit unions offer consumers a distinct choice in financial institutions – and require unique services from an investment firm. Raymond James offers a superior level of support to credit union clients, wielding the power of one of the largest Fixed Income research departments in the industry in finding market opportunities. Our experienced and credentialed staff reports on developments in the agency, mortgage-backed, municipal and SBA markets.

In addition to our interactive portfolio manager, eFolioPlus®, Raymond James’ Reportfolio®, our accounting and reporting service, interfaces with online information and can account for complex securities – such as CMOs, adjustables and zeros – as well as less structured products. We also keep you up to date on regulatory changes and how they impact your portfolio, providing reporting services to keep you in compliance.

Our services include asset/liability management, loan evaluation and trading, peer group comparisons, asset optimizations, wholesale funding-brokered CDs (federally chartered) and educational conferences.

Municipalities

Raymond James is specially equipped with both the personnel and the proprietary software to develop comprehensive investment portfolio analyses and recommendations for finance directors, treasurers and investment portfolio managers of municipalities. With our expertise and technological advantage, we can optimize portfolios for safety and liquidity, while maximizing income potential and managing interest rate risk.

Our Public Finance Group is a leading source of financing in a broad range of industries, including secondary and higher education, state and local governments, multi- and single-family housing, healthcare and airports. Financing is available through Raymond James Bank, a wholly owned subsidiary.

In addition to our interactive portfolio manager, eFolioPlus®, our services to municipalities include GASB 40 compliance reports, call analysis, cash flows, portfolio review and structure evaluation, shock analysis, liquidity analysis and more.

Trading

Good ideas result from research conducted with an understanding of what a client needs – and what the market can offer. That’s just the sort of approach you can expect from Raymond James.

Our trading desks focus on the ultimate goals of our clients. We closely examine market moves to uncover relative value. We review portfolios to identify opportunities and challenges in both current and potential future market conditions. And our recommendations are made solely to help increase your profitability while managing risk and meeting your investment guidelines.

Unlike most firms on Wall Street, we are not restricted to our own products. Typically carrying more than $1.5 billion in total fixed income inventory, we view and select inventories from diverse sources

With about one trader to every three salespeople, and an average of more than 21 years’ experience per trader, Raymond James makes every effort to close a deal better than anyone else

Government

Our trading philosophy follows our company philosophy—customer driven. We buy and position bonds in support of our clients. And unlike most firms on Wall Street, we’re not restricted to just our own products. We view and select securities from all over. We align our buying with the specific needs of our clients—whether seeking relative value in new structured issues or tapping undiscovered value in secondary markets.
It’s not just how we think. It’s how we do business.

Raymond James is one of the more active firms in the agency underwriting business. We are underwriters for all the GSE’s including Federal Farm Credit, Federal Home Loan Bank, Freddie Mac, Fannie Mae, Farmer Mac, and World Bank. Raymond James is a member of the callable bidding groups with Federal Farm Credit and the Federal Home Loan Bank. We are also in the discount note selling groups of Federal Home Loan Bank, Freddie Mac, and the Federal Farm Credit. Our goal in underwriting is to structure and buy on the auctions securities which fit the needs of our clients. The firm is active in new issue agency underwriting on a daily basis which gives our customers the most current investment opportunities in the new issue agency market. Raymond James structures GSE products that specifically fit the needs of our customers and we provide excellent liquidity for these bonds once trading in the secondary market

The Government Desk positions up to $500 million in new issue and secondary agencies along with money market instruments. The desk also works daily on underwriting new issues. And in keeping with our customer focus, we are committed to increasing positions to whatever level is needed to satisfy investor demand. Raymond James Government Desk is committed to actively making a secondary market in all government sponsored agencies, especially those issues we underwrite, providing you with the options for execution that meet your individual portfolio needs.

Corporate

The Raymond James Corporate Trading Desk activity is centered on our customers and their need for liquidity. While a modest portion of trades are inter-dealer, the majority of transactions facilitate a client’s need to buy and sell securities. Our diverse sales force allows us to distribute all types of corporate securities to a wide array of accounts. With total fixed income inventory lines at over $1.5 billion, we have flexibility to accommodate our accounts when circumstances permit.

Corporate bonds are based on research, experience, intuition – and more research. Our corporate effort is supported by dedicated analysts who evaluate credits, make relative value recommendations and develop portfolio strategies. We don’t just look for opportunities that will make our clients a dollar; we look to protect investments from declining fundamentals and credit deterioration.

Raymond James seeks to add value for our customers by evaluating niche sectors and the second tier of issuers – areas Wall Street tends to overlook. We take our obligation to write objective, unbiased research very seriously. Our clients have come to expect us to have credit opinions backed up by critical thinking and sound fundamental judgment.

Mortgage-Backed

Raymond James’ Mortgage-Backed Desk strives to consistently deliver a superior level of service and competitive execution that translates into long-term value for our clients.

Our philosophy and business model is simple. We use our inventory positions and capital to execute trades on behalf of our clients. We are not interested in proprietary positioning for short-term trading gains for our firm. The combination of experienced professionals and outstanding research has allowed Raymond James to generate new products and produce early, accurate calls. With excellent relationships with several major Wall Street firms, the desk has access to an extensive supply of product, ensuring that your needs can be met quickly, effectively and professionally.

We buy and position bonds in support of our customers. And unlike most firms on Wall Street, we’re not restricted to just our own products. We view and select inventories from a variety of sources. Typically carrying in excess of $1.5 billion in total fixed income inventory, we align our buying with the specific needs of our customers – whether seeking relative value in new-issue structured product or tapping undiscovered value in the secondary markets.

A good trade isn’t made by a company. It’s made by a team of individuals, experienced in what they do and well-versed in the customer’s needs. You’d be hard-pressed to find a more experienced group anywhere. The nine full-time traders on the Mortgage-Backed Securities Desk average 18 years each in the business and focus their efforts on the main sectors of the mortgage-backed market. Those sectors include: fixed-rate pass-through securities, adjustablerate pass-through securities and collateralized mortgage obligation securities. Our trading desk has grown to handle a total annual volume of more than $45 billion in mortgage-backed securities.

Municipal

The Raymond James Public Finance group is a perennial top 10 underwriter nationally of municipal bonds, a ranking we have consistently achieved for more than a decade. This ranking pays testament to our unwavering commitment to innovation, client service and superior execution.

The 40 trading and underwriting professionals on our eight municipal desks average more than 20 years in the business, handling 462 issues worth more than $15.25 billion as Senior Manager in 2023 alone.

SBA/USDA

Raymond James has been actively involved in the purchase and sale of government guaranteed loan products for over 20 years. We have continued to be an active pool assembler of government guaranteed loans since the loan pooling program began in 1984. The universe that we cover includes not only SBA (Small Business Administration) 7(a) and 504 loans, but also USDA Rural Development/Business and Industry (United States Department of Agriculture), FSA (Farm Service Agency) loans, and fixed-rate SBAP and SBIC securities.

As regulations and mandates evolve, we strive to provide unparalleled service and solutions to our customers involved in underwriting government-guaranteed loan products. As a full service, national brokerage firm, and member of the National Association of Government Guaranteed Lenders (NAGGL), we have the depth and the credentials to help.

Whole Loan

One of our team’s highest priorities is embodying the client-first service for which Raymond James is known. We understand that having an experienced team is essential in helping ensure your success, and we work to provide sophisticated portfolio analytics while identifying the risks and rewards associated with your loan portfolio. Dedicated to comprehensive and personalized service, our team draws on our ample knowledge and robust resources to guide you in all stages of a transaction – from determining potential strategies and leading pricing discussions to helping with the underwriting of loans and working with your legal counsel to negotiate contracts and establish collateral.

Over the past five years, the Raymond James Trading Desk has transacted on over $40bn in loans and closed over 1,500 trades. Our analytical team reviewed nearly 750bn in loan portfolios and completed over 1,500 projects in 2023 alone. Our ability to transact on and review the loan portfolio gives unrivaled reach and execution to our customers.

We invite you to find out how our service first approach and experienced sales and trading teams can assist you with any and all of your loan and lending needs.

Research

Since the founding of the firm, quality research and strategies have been a hallmark of Raymond James. In fact, with one of the largest research departments off Wall Street, we’re able to serve our clients better without having to depend on outside sources. We periodically publish articles and reports on products, strategies, regulatory issues and economics.

Timely Reports

At Raymond James, our in-house research department offers a variety of research reports to help fit your needs. You can also leverage our experts’ knowledge of the marketplace at you next conference or seminar. Visit our Speakers Bureau page to learn more about reserving one of our experts for your next engagement.

Ellis Phifer’s Morning Notes
Eugenio Alemán's Weekly Economic Commentary
This Week’s Market Opportunities
Fixed Income Spreads
Agency Market Reports
Structured Products Reports
Municipal Market Reports
Corporate Market Reports
Cross Sector Relative Value
Mortgage Market Reports
Asset Allocation and Optimal Depository Portfolio Review
Total Return/Insurance Market Reports

Client Solutions

Portfolio Review and Analysis (PRA)
Asset Optimization
Strategic Growth Model
Peer Group Comparison
Educational Conferences, Seminars and Schools
Asset/Liability Management Services
Reportfolio®

Asset Liability

Raymond James’ Asset Liability Management Services provides clients with a robust, dynamic, and comprehensive solution for measuring, monitoring, and managing risk. The service leverages the technology of the cutting edge ALM model, employing the institution’s core account data and custom behavioral assumptions. The analytics and model outputs meet or exceed regulatory requirements and provide management with a powerful tool to aid in strategic decision making.

Reporting Details

Earnings, economic value, liquidity, and economic capital at risk analysis
Eleven instantaneous, parallel shock scenarios and five ramped, non-parallel scenarios
Executive, Board and ALCO summary reports to aid in strategic decision-making
Detail reports incorporating account-level analysis and performance outputs
Liquidity analysis to support cash flow stress-testing and contingency funding planning
Seven-year simulation horizon modeled on a static and/or dynamic basis

Modeling Details

Securities modeled by regulator-recognized eFolioPlus® system
Loans modeled on a line-item basis for all contractual elements such as floors, caps, repricing characteristics, amortization and balloon dates
Deposits and borrowings modeled on an account-level basis, accounting for any optionality
Custom prepay, decay and beta assumptions

Consulting Services

Model assumptions consulting
“What If?” modeling to support strategic decision-making:

Growth, runoff and new product scenarios
Prepayment and deposit behavior scenarios
Bond portfolio, loan, funding, capital and hedge strategy scenarios

Board/ALCO meeting consultation and on-site visits
Asset/liability continuing education presentations
Policy review and update
Regulatory exam preparation
Actionable strategy and product solutions

Reportfolio®

Overview

Reportfolio® helps you simplify the accounting and regulatory side of managing your bond portfolio. Concise, direct reports – with a multitude of different uses – arm you with the information you need to stay on top of your portfolio and the latest regulations.
Put the reports to work for you with customized configurations and flexible delivery options, including eFolioPlus®.

Features and facts

Reportfolio® is independently audited and is SOC 1 Report (SSAE 18) type II compliant.
Converting to Reportfolio® is easy and requires minimal field entries. We balance to your previous month’s totals.
Receive updated pledge and safekeeping changes and review updated totals throughout the month.
Independent third party pricing from Refinitiv/Reuters and Interactive Data (IDC/ICE) (IDC).
There is no cutoff time for late transactions and reports are available no later than two business days before the end of the month.
Receive personal back-office support from dedicated accountants.

There is no charge for the first two months with a signed engagement letter, making it possible to run your previous system parallel with ours as you transition.

eReports

The eReports section delivers all monthly bond accounting reports in viewer-friendly PDF format, which makes it easy to reconcile to balances. This section also offers pricing methodologies from our vendors, Reuters and IDC.
There is also an option to retrieve historical accounting and market value shock reports.

Executive Summary

Access the executive summary section for monthly reconciling values. These reports display monthly income values including accrued interest, amortization and accretion.
You can also access totals for principal and interest payments in a summary format.

Reportfolio® Downloads

The Download tool allows you to access custom data downloads using accounting and analytics fields. Receive updated information like market prices, ratings and payments in an easily viewable spreadsheet format.