Raymond James Launches Proprietary AI Search Technology to Enhance Advisor Service Excellence

Raymond James launches AI Search, enhancing service through generative AI for financial advisors, improving information access and efficiency.

Quiver AI Summary

Raymond James has launched its proprietary AI Search technology, aimed at enhancing service excellence through artificial intelligence. This new system allows financial advisors and associates to ask natural language questions and receive tailored answers from the firm's extensive internal knowledge base, as explained by Stuart Feld, the new chief artificial intelligence officer. The AI Search is designed to save time and improve efficiency by providing accurate information on the first attempt, without requiring users to adapt to a new system. It integrates seamlessly into existing knowledge centers and is guided by a strategic framework focused on data-driven insights, enhanced services, and secure applications. Additionally, the AI platform prioritizes reliability by incorporating real-time user feedback and maintaining human checkpoints during its development and operation. Overall, Raymond James invests $975 million annually to enhance technology that supports its advisors and clients.

Potential Positives

Raymond James launches its proprietary AI Search technology, enhancing service excellence and efficiency for financial advisors and associates.
The firm is committing $975 million annually to technology improvements, demonstrating a strong focus on innovation and client service.
AI Search integrates smoothly with existing knowledge centers, minimizing the learning curve for advisors while improving access to critical information.
The incorporation of real-time feedback and human checkpoints in AI Search underscores a commitment to reliability and quality in the technology implemented.

Potential Negatives

Although the press release emphasizes the investment in AI technology, it acknowledges the limitations of AI models, which may lead to concerns regarding the reliability and accuracy of the information provided by the new system.
The press release highlights the need for human checkpoints in the AI Search system, which may indicate potential vulnerabilities or risks in the AI's performance without human oversight.
The focus on AI integration could divert attention from other essential areas of service or technology, raising potential concerns about overall service quality and advisor-client relationships if not managed properly.

FAQ

What is AI Search by Raymond James?

AI Search is a proprietary technology that uses generative artificial intelligence to provide precise information to financial advisors through natural language queries.

How does AI Search improve advisor efficiency?

AI Search reduces time spent searching for information by delivering tailored answers on the first try, enhancing overall service levels.

What are the key features of AI Search?

Key features include integration with existing knowledge centers, a real-time feedback system, and continuous improvement through human checkpoints.

How much does Raymond James invest in technology each year?

Raymond James invests $975 million annually to enhance technology offerings for advisors and their clients.

Why is AI Search built in-house?

Building AI Search in-house allows for greater transparency and flexibility, ensuring it meets the unique needs of financial advisors.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$RJF Insider Trading Activity

$RJF insiders have traded $RJF stock on the open market 12 times in the past 6 months. Of those trades, 0 have been purchases and 12 have been sales.

Here’s a breakdown of recent trading of $RJF stock by insiders over the last 6 months:

PAUL C REILLY (Chair & CEO) sold 50,000 shares for an estimated $8,365,065
STEVEN M RANEY (Executive Chair RJBank) has made 0 purchases and 3 sales selling 13,845 shares for an estimated $2,340,134.
TASHTEGO S ELWYN (President, PCG) sold 10,000 shares for an estimated $1,594,650
JONATHAN N SANTELLI (EVP, Gen Counsel, Secy) has made 0 purchases and 2 sales selling 7,260 shares for an estimated $1,213,250.
HORACE CARTER (President, Fixed Income) sold 5,000 shares for an estimated $825,147
BELLA LOYKHTER ALLAIRE (Chief Admin Officer) has made 0 purchases and 2 sales selling 4,621 shares for an estimated $769,790.
KATHERINE H LARSON (Chief Accounting Officer) sold 1,492 shares for an estimated $247,690
SHANNON B REID (President, ICD) sold 1,241 shares for an estimated $205,141

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$RJF Hedge Fund Activity

We have seen 354 institutional investors add shares of $RJF stock to their portfolio, and 347 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

WELLINGTON MANAGEMENT GROUP LLP removed 1,786,241 shares (-14.7%) from their portfolio in Q4 2024, for an estimated $277,456,814
FIRST TRUST ADVISORS LP removed 1,508,006 shares (-91.4%) from their portfolio in Q4 2024, for an estimated $234,238,571
MORGAN STANLEY added 982,758 shares (+53.4%) to their portfolio in Q4 2024, for an estimated $152,651,800
BLACKROCK, INC. added 714,137 shares (+5.2%) to their portfolio in Q4 2024, for an estimated $110,926,900
SELECT EQUITY GROUP, L.P. added 525,404 shares (+inf%) to their portfolio in Q4 2024, for an estimated $81,611,003
PRIMECAP MANAGEMENT CO/CA/ removed 507,256 shares (-4.2%) from their portfolio in Q4 2024, for an estimated $78,792,074
PNC FINANCIAL SERVICES GROUP, INC. added 461,069 shares (+433.4%) to their portfolio in Q4 2024, for an estimated $71,617,847

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$RJF Analyst Ratings

Wall Street analysts have issued reports on $RJF in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

UBS issued a "Buy" rating on 01/06/2025
Raymond James issued a "Strong Buy" rating on 12/11/2024
JMP Securities issued a "Outperform" rating on 10/24/2024

To track analyst ratings and price targets for $RJF, check out Quiver Quantitative's $RJF forecast page.

$RJF Price Targets

Multiple analysts have issued price targets for $RJF recently. We have seen 3 analysts offer price targets for $RJF in the last 6 months, with a median target of $161.0.

Here are some recent targets:

An analyst from Raymond James set a target price of $161.0 on 03/04/2025

Full Release

ST. PETERSBURG, Fla., April 17, 2025 (GLOBE NEWSWIRE) -- Raymond James continues its investment in artificial intelligence as a crucial component of service excellence with the launch of its proprietary AI Search technology. Powered by generative artificial intelligence, AI Search enables both financial advisors and associates to ask intuitive, natural language questions to the firm’s vast internal knowledge base and receive precise, tailored information in return, according to Stuart Feld, newly appointed chief artificial intelligence officer.

“Part of our commitment to advisors is to invest in innovation that will enhance the firm’s already industry-leading service levels and return more of their most precious asset to them – time. AI Search reduces time spent scanning search results into a one-stop question and answer experience to get them to the correct information or professional contact on the first try. Importantly, the capability is integrated into the knowledge centers that advisors are already familiar with and reflexively turn to for information, rather than requiring adoption of a new system,” said Feld.

The firm’s strategic framework around AI innovation focuses on three key pillars: data-driven insights to support optimal client advice, enhanced service models and systems, and secure applications that are safe, reliable and scalable. To help ensure reliability, AI Search continuously seeks feedback through a real-time voting system on the quality of the results it provides.

“It’s well-known that any AI model has its limitations. To reduce the potential for errors, our practice is to maintain human checkpoints on this and any future systems throughout development, implementation and maintenance. Additionally, the team’s depth of talent in the space has allowed us to build AI Search in-house, providing a high level of transparency and flexibility in the application,” Feld continued.

Raymond James technology is designed in close collaboration with financial advisors to provide a seamless platform of sophisticated digital tools that support the advisor-client relationship. The firm invests $975 million annually to continually improve technology for advisors and their clients.

About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets are $1.58 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com .