Charles Stanley, one of the oldest names in wealth management, is being phased out as Raymond James brings its operations together under a single brand.
Raymond James Wealth Management said the alignment will provide greater clarity to both its managers and clients, and help it on its mission to become a top five player.
It acquired Charles Stanley in January 2022 and the changeover will be phased in from the end of this year. The combined business oversees £49.4 billion in assets and has 230 wealth managers on its books.
Charles Stanley traces its roots back to January 1792 through the formation of a banking partnership in Sheffield called Walkers, Eyre and Stanley Bank.
The firm remained independent for around 230 years and was controlled by direct descendants of the founders, the Howard family, until it was sold to Raymond James.
Charles Stanley Direct, the firm’s execution-only retail investment platform, will continue to operate under its current branding.
CEO Kim Jenson said: “I’m proud to announce our intention to come together under one brand, united around a shared purpose and a stronger proposition for our clients.
“What we do can transform lives and reshape futures. But it always comes down to a human connection: the individual with an ambition, and the expert who helps make it real.”
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