VOLUME 4 | ISSUE 2 APRIL 2018

FOR BROKER DEALER USE ONLY / NOT FOR CLIENT USE

THE NORTHEAST

A QUARTERLY PUBLICATION OF THE NORTHEAST ICD REGION

BRANCH HAPPENINGS

REGIONAL EVENTS

PRACTICE POINTERS

WELCOME TO RAYMOND JAMES

ANNIVERSARIESINSIDER

VOLUME 4 | ISSUE 2 INDEPENDENT CONTRACTORS DIVISION

Letter from NicoleI want to thank you for continuing to tell us the issues you are having with service challenges. Tom, Allison, Tom Swim and I are focused on doing what we can to improve your experiences. If you have any problem that requires urgent assistance and it is not being addressed to your satisfaction, please email RJFS-ICDNortheastRegionalManagement@RaymondJames.com or call us directly. We will support you in tackling that issue.

The New Accounts department is working additional hours to address the issue and has hired 75+ new associates to provide more support. They have also enabled a special telephone menu to quickly route callers to the correct person and are conducting weekly COB training sessions. See RJnet for additional details.

We are here to support you and understand your disappointment and frustration. Our focus is on improving your service experience.

Over the last three years, we have conducted workshops throughout the region. Last year, we successfully met over 350 advisors in our workshop that was focused on service

models, investment strategy and client documentation. We are excited to discuss this year’s workshop. Our plan is to visit Pittsburgh in August; Newport News, Jersey City, Rockville and Philadelphia in September; and New Haven and Lowell, MA in October. Our key topics will be leadership, goal setting and acquiring net new assets. Also, we are adding a special hour focused on supervision, and Valentina Everhart will be joining us. An email with more details, specific dates, times and locations will be sent to you later this quarter.

Our team will be at the National Conference for Professional Development in May. We look forward to seeing you!

NICOLE CARINGAL Assistant Regional Director

VOLUME 4 | ISSUE 2 APRIL 2018

Branch Happenings

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The Z3 Capital Partners team in Richmond, VA joined in December. Pictured left to right: Scot Morris, Alicia Borghi, Barbara Wiltshire, Alex Brand and Hasti Thompson.

Scot Morris has a colorful display of bulls from across the world. The theme of his shelf? “No bears allowed.” How fitting!

Bud Fulton (Altoona, PA) proposed to his now-fiancee Barb after 20 years of acquaintance and seven years of dating. He refers to their family as the “21st century Brady Bunch” with Barb’s three daughters and Bud’s three sons. If you now have the Brady Bunch theme song in your head ... you’re welcome.

G.R. Davis and his team in Staunton, VA joined in November. Pictured left to right at their client event: G.R. Davis, Rick Gaston (Recruiter for VA), Allison Kypros (ARD) and Ariel Harper.

On February 2nd, Lou D’Angelo (Pittsburgh, PA) celebrated the birth of his granddaughter Riley Mae Glenn (20" and 7lbs. 7oz.) with his daughter Julia and her husband Josh in Arizona.

Tiffany Blackstone (York, PA) and her husband Andrew welcomed their son Micah Andrew at 1:00 a.m. on September 28, 2017. Big smiles as he’s sporting his Raymond James onesie.

THE NORTHEAST INSIDER APRIL 2018

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Regional Director Tom Harrington sporting his Valentine’s Day spirit with advisors Bill Burke and Hilary Fagnani (Basking Ridge, NJ).

Thank you to all who spent time with us at the annual Winter Symposium in February enjoying the lovely Vinoy hotel and some beautiful Florida “winter” weather.

We had a full room and captive audience in the beautiful main ballroom at The Vinoy® Renaissance St. Petersburg Resort & Golf Club for our sessions.

George and Meryl Brown (Albany, NY)

John and Lois Dean (Charlottesville, VA)

Congratulations to Lara Overy on winning Best Shoes at the opening reception. Left to right: Assistant Regional Directors Nicole Caringal and Allison Kypros, Lara Overy (Williamsburg, VA) and Regional Director Tom Harrington.

June Chipman and Gary Reynolds (Lancaster, PA)

Regional Directors Tom Harrington and David Sisemore (Midwest) ... never a dull moment!

VOLUME 4 | ISSUE 2 APRIL 2018

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Regional Events in 2018

2018 NCPDMay 21-24, 2018 Landover, MD

Summer Symposium*June 20-22, 2018The Hotel VikingNewport, RI

ICD Director and Leaders Council Trip*July 18-22, 2018The Broadmoor Colorado Springs, CO

Northeast Regional ConferenceAugust 22-24, 2018Hyatt Regency Jersey City, NJ

2018 Northeast RoadshowsAugust 8, 2018Pittsburgh, PA

September 6, 2018Jersey City

September 11, 2018Newport News, VA

September 12, 2018Rockville, MD

September 13, 2018Philadelphia, PA

October 10, 2018New Haven, CT

October 11, 2018Lowell, MA

Women’s SymposiumSeptember 26-28, 2018Tampa Marriott Waterside Tampa, FL

Practice Intelligence Workshop*November 7-9, 2018The Omni Grove Park InnAsheville, NC

* By Invitation Only

It has been quite the winter!

In case you’re wondering what a frozen “Big Apple” looks like, check out the view from Eric Kaufman’s NYC office.

Check out the icicles on Ben Longo’s office in Erie, PA!

THE NORTHEAST INSIDER APRIL 2018

Practice Pointers

Market volatility resourcesIn light of the market’s recent pullback, use these resources to connect with your clients and address any questions.

Taking Care of Clients (and Gathering New Ones) in Volatile Markets toolkit

Client-approved resources, including letters and videos

Thoughts on the Market commentary

2017 Annual ReportReview what Raymond James accomplished in 2017 in the recently published

Annual Report. Share the shortened version with clients and prospects by

ordering it via e-Mall (item #: AR2017 – SHORT BROCHURE). The full version is

available as well (item #: AR2017).

Latest business building campaign from Practice Intelligence: Increasing Asset Inflows through Client ReferralsMany advisors will tell you that most of their new assets come from client referrals. In spite of this, many of them take a fairly passive stance on helping clients to refer. In recognition of this reality, the Practice Intelligence team has put together a dynamic program to help you optimize client referrals to grow your business. The latest toolkit includes a workbook, advisor interviews, webinars and additional resources from your fellow peers.

The toolkit will cover topics on how to:

• Understand, identify and increase your engaged clients

• How to move from passive to active referral gathering activities

• How to get the right referrals

• How to take advantage of referral triggers and more

We hope these resources will help you lay the foundation for creating a referral culture in your practice. If you have any questions about the resources, please contact the Practice Intelligence team at practiceintelligence@raymondjames.com.

VOLUME 4 | ISSUE 2 APRIL 2018

Product Catalog: Latest enhancements

Introducing Portfolio Management A streamlined approach to building, analyzing and comparing portfolios

Access insights that drive better decisions with Product Catalog, a central repository that allows you to search, screen, compare and review financial product attributes, fact sheets, analytics and research, with the option to manage custom product lists.

To log on to Product Catalog, go to Advisor Access > My Investments > Product Catalog.

ENHANCEMENTS• Additional Products Added: Partnerships and AMS American

Fund Model Portfolios

• Benchmark Selection: Select any available benchmark to be displayed on a product’s Analytics Tab of their detail pages.

• Mutual Fund Enhancements: Several data attributes have been added such as Recommended Share Class, RJ Rating, NTF, Time to Settlement and Minimum Investment Waived Wrap Accounts.

• Equity Enhancements: Sharpe Ratio, R-Squared, Beta and Treynor Ratio have been added to the Analytics Tab.

Construct and analyze your own custom investment portfolios in a streamlined workspace with Portfolio Management. The initial release of this new application in the integrated Wealth Management suite allows you to:

• Construct asset class and product allocations

• Create impromptu allocations using a mixture of asset classes, products and benchmarks

• Run in-depth analytics – both historical and forward looking – for existing relationships, accounts or new investment portfolios

CUSTOM ALLOCATIONS

Create and manage personalized allocations based on asset classes or products (with optional product substitution). You also have the option to activate allocations, which allows you to track changes over time.

HYPOTHETICAL PORTFOLIOS

Create and analyze off-the-cuff allocations in a freeform workspace using a mixture of asset classes, products and benchmarks. You also have the option to customize the dollar amount of a hypothetical allocation.

ROBUST ANALYTICS

Gain insight from high-quality data feeds from Morningstar and Raymond James, both historical statistics as well as forward-looking Capital Market Assumptions.

CONVENIENT INTEGRATION

The application integrates allocations from Portfolio Management Center (PMC) and Goal Planning & Monitoring (GPM) through initial import, with the ability to export asset class allocations from Portfolio Management to GPM with one click. You can also import from a spreadsheet, a Raymond James account or a Product Catalog list.

GETTING STARTED• View the full release notes document for more

information on the latest release items.

• View the Introducing: Product Catalog flier for detail on the main functionality of the application.

• View the 2018 Product Catalog Roadmap to see what is in store for 2018.

Visit the Product Catalog page on RJnet for additional education resources and online training.

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THE NORTHEAST INSIDER APRIL 2018

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SBL: Who, What, When, Where, WhyBy Radha Jabbar, Regional Compliance Officer, Northeast

As markets continue their upward climb, a Securities Based Line of Credit (SBL) is becoming an increasingly popular way of accessing capital without having to liquidate one’s portfolio. This line of credit allows the client to borrow against their portfolio of investments, while continuing to stay invested in the markets. SBLs are non-purpose loans and, as such, offer flexibility: they can be used for large purchases, in the wake of emergencies, business needs, college tuition, etc. They cannot, however, be used to purchase or carry securities or to pay off a margin loan. The available amount to borrow would vary based on asset type and value of securities in the account. Clients can continue their long term investment strategy of buying, selling, trading, receiving income, dividends, etc., if the pledged account(s) are not generally impacted.

SBLs also come with certain downside risks. For instance: the potential impact of market declines, having to liquidate your investments partly or fully, the potential tax implications if pledged securities are liquidated and the possible impact of an increase in interest rates are potential risks. If the market turns against the client, he or she may be required to deposit additional securities and/or cash in the account(s) or pay down the loan to avoid liquidation. The securities in the Pledged Account(s) may be sold to meet the Collateral Call, and the firm can sell the client’s securities to satisfy the outstanding line of credit. A client may not be able to choose which securities or other assets in their account are liquidated or sold to meet a Collateral Call.

Before you consider an SBL for your clients, please ask yourself the following questions:

• How much total debt doesthe client currently carry?

• Will this loan create more debt than is suitable given the client’s financialcircumstances?

• What are the client’s liquidassets, apart from the pledged securities?

• Does the client understandall the risks of an SBL?

• Does the client have sufficient liquidity to meetmargin calls if applicable?

• Is the additional risk created by the SBL’s leverage suitablefor the client?

• For what purpose is the loan being considered? Will the client have reliable means ofrepaying the loan?

To learn more about SBL, please call Private Client Banking at ext. 75626 or click here.

Report from the Barron’s Top Independent Advisors Summit MARCH 14-16, 2018 | ORLANDO

by Tom Harrington, Regional Director

In addition to three of our Top Advisors from the Northeast (Gerry Klingman, Mal Makin and Rick Wagener), I recently attended the Barron’s Top Independent Advisors conference in Orlando, Florida. The sessions and speakers were some of the top representatives in the industry and represented a wide variety of topics and issues. Some good, some not!

A few key takeaways included the following:

1. 90% of advisory firms have at least 50% of their clientsin distribution mode.

2. Average growth of advisory firms was about 5% last year.

3. There are 40,000 fewer FAs in the industry compared to10 years ago.

4. General consensus of the summit: Going forward the focus won’t be on the investment performance, but the client experience with the office. Planning and advisoryfees will be critical with a key spotlight on “Health, Wealth, Life.”

5. Human capital was a focus. One of the firms established aposition internally titled “Director of Compassion.”

6. Technology is the great enabler. As one small example, firms need to review their websites continually to makesure they aren’t stale.

7. Firms should focus on a key segment of the marketplace:“HENRY” – High Earners, Not Rich Yet.

8. Mark Tibergien has a new book out called “The EnduringAdvisory Firm.” Considering his longtime knowledge of our industry, I’d bet it’s a great read for our future.

9. Keynote speaker was Chris Voss, head of the BlackSwanGroup. He was the leading international FBI negotiator for kidnappings of U.S. citizens across the globe.

10. Barron’s promoted a new program called “Barron’s in Education” geared toward college students. The intention is to get local financial planning firms involvedat various sponsor levels in conjunction with Barronʼs at local universities and colleges to promote knowledge about the financial services industry. They’ve already had 21 colleges sign up.

VOLUME 4 | ISSUE 2 APRIL 2018

© 2018 Raymond James Financial Services, Inc., member FINRA/SIPC. 17-ICD-0581 KF 4/18

Please provide details of things going on. Share the important “life events” that have occurred.

RJFS-ICDRegionalManagementNortheast@RaymondJames.com

FOR BROKER DEALER USE ONLY / NOT FOR CLIENT USE

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WELCOME TO RAYMOND JAMES

Andy Egber* | Bethesda, MD

John Geffert | Plymouth, MA

David Garber | York, PA

Jason Weber | York, PA

Bill Thompson | York, PA

Jim Marchesi | Mendham, NJ

Mickey Pirrello | Hackettstown, NJ

Nicole Sennett | Wilkes-Barre, PA

Alan Raffer* | Paramus, NJ

Sherry Birnbaum* | Paramus, NJ

Jeremy Raffer* | Paramus, NJ

Matt Spradlin* | Richmond, VA

Rick Godfrey* | Richmond, VA

Ashby Daniels | Pittsburgh, PA

Barbara Boccuto | Rhinebeck, NY

Kathy Reisfeld | Rhinebeck, NY

Seymour Slatkin* | Rockville, MD

*Joined Steward Partners

New financial advisors – January to March 2018

MILESTONE ANNIVERSARIES*

Name Tenure StateJeffrey Gay 25 PA

Todd Miller 25 PA

Richard Bohner 20 NY

Jacqueline Kimmel 20 PA

Howard Green 20 NH

Andrea McMurran 15 VA

Joseph Galati 15 NJ

Sherry Forney 15 PA

Andrew Semjen 15 MA

Ryan Fine 15 MA

Dean Cook 15 PA

Amy Harrison 15 NJ

John Postizzi 15 MA

Lori Frise 10 VA

Nicholas Buccino 10 NJ

Malcolm Greenough 10 NJ

Linda Laganos 10 VA

Name Tenure StateRobert Burke 10 NJ

Joseph Amalfitano 10 PA

Vincent Amalfitano 10 PA

Anthony Rocco 10 CT

Jonathan Marcus 10 MA

John Kochersperger 10 CT

George Feys 10 MD

Katherine Alcorn 10 CT

Robert Smith 5 MA

Jeffrey Thomas 5 NH

Brian Richmond 5 MD

Robert Rooke 5 NJ

Ian Reitman 5 PA

Lisa Carlson 5 PA

Zachary Musgrave 5 VT

Jason Blount 5 VA

*Service anniversaries – January to March 2018