RJFRaymond James Financial, Inc.

“our proprietary AI operations agent provides curated natural language answers and guidance to operational questions while intelligently evolving based on user activities and preferences. This agent has been rolled out to a few hundred advisers and their team so far in addition to service focus groups at the home office. We are very encouraged by the strong initial feedback, and we'll continue to expand adviser and associate access over time.”

“we have a solution called [ Ray ] that we rolled out and that advisers and sales assistants can use to find -- to sit through a lot of information, self-service and very quickly find the answers the complicated questions. And so we're piloting it with a few hundred advisers in the early feedback has been extremely positive.”

“we will continue investing in automation, process improvement and AI as part of our more than $1.1 billion annual technology spend to create efficiencies, give advisers more time to deepen client relationships and further enhance the client experience.”

“that's why we spent $1.1 billion on technology and AI and all the components of technologies from the adviser tools to the client tools.”

“We're using AI in a lot of areas already, whether it be in our cybersecurity area, although that's continuing to evolve as we saw with a new release a couple of weeks ago and some of the notifications from Washington around that. So we're using AI, and we're seeing a lot of benefits from AI, but it's hard to dimension the actual margin impact at this juncture. I think anyone who's talking about cost reductions or margin benefits from AI today at least I would be arbitrary and too preliminary in providing that type of specificity.”

“I think AI is kind of being sort of used to describe the phenomenon that we already anticipated would happen. And so I don't see much more of an incremental threat maybe to the e-brokers where there's not a financial adviser involved that's been helping clients reinvest those cash balances, perhaps, I'm not sure. We're not an e-broker so I'm not an expert in that space. But I don't see it really impacting our space much more incrementally”

“When we look at these AI releases, some of which have negative impacts on our stocks in our industry. I look at it as these are releases that could be extremely helpful to us and to our advisers to help provide more bespoke advice to a larger number of clients. And so that's really what we are here to do is help advisers better help their clients.”

“what we're all wondering is the next phase of AI really is around Agentic AI and what can Agentic AI do to improve processes and streamline processes and ultimately the cost curve across not only our industry, but all industries. And we're still -- I think Raymond James and all of corporate America is still early in that journey, frankly.”

“a lot of the focus on AI across corporate America right now. And for us, it included, has been around the large language models and some of the sort of benefits of an efficiency and increased productivity that large language models can provide by synthesizing a lot of data”

“AI should help down the road because it will help advisers come up with more bespoke tailored insights that advice safe there, save them time on administrative tasks and allow them to spend more time developing those deeply personal relationships with their clients.”

“In a world being shaped by AI, technology and constant change we believe personal relationships will matter more, not less. Our strategy is to keep investing in the people, platforms and capabilities that help our financial professionals deliver more holistic more personalized advice to clients while staying true to the culture and long-term approach that have always differentiated Raymond James.”

“if that evolves in the industry based on competitive pressures and competitive dynamics and client preferences, most importantly, then of course, we would be flexible and open to evolving with where clients and advisers in the industry is evolving to.”