Raymond James boosts hurricane relief commitment

St. Petersburg-based Raymond James Financial has significantly increased its hurricane relief efforts, committing nearly $11 million to support associates and communities affected by Hurricanes Helene and Milton.

The financial services firm announced an expanded relief package in response to the devastating impacts of the back-to-back storms that hit Southeast Florida, including the Tampa Bay area where Raymond James is headquartered. 

“While the storms have thankfully passed, our commitment to people continues,” said Paul C. Reilly, Chair and CEO of Raymond James, in a company-wide memo. “True to our mission, we are working hard to ensure our Raymond James family and surrounding communities receive the support and resources needed during this difficult and stressful time.”

The relief package includes additional stipends for eligible associates impacted by Hurricane Milton. Those who previously received a $1,000 stipend for Hurricane Helene will receive an additional $500, while those who did not receive the earlier stipend will get $1,000.

Raymond James has also increased its community support, pledging a total of $2.25 million to disaster response organizations. This includes an additional $1 million donation to the American Red Cross and other local partners following Hurricane Milton.

The firm will continue to match up to $250,000 in donations from its advisors and associates to the American Red Cross and the United Way Suncoast Disaster Recovery Fund through Oct. 31.

Raymond James Financial headquarters in Carillon in St. Petersburg. File photo.

In addition to the corporate contributions, Raymond James’ leadership has stepped up personally. The Executive Committee and Board of Directors collectively pledged over $450,000 in personal donations to Friends of Raymond James, an independent non-profit providing financial relief to associates and advisors facing personal hardship.

This increased relief effort follows Raymond James’ initial commitment of up to $6.5 million in Hurricane Helene relief announced earlier this month. 

Despite facing challenges at its own headquarters, including power loss, minor wind damage and flooding in the surrounding streets, Raymond James maintained its operations through successful implementation of business continuity plans.

“Our proactive measures – along with our resilient infrastructure designed to safeguard our operations – ensured we could continue meeting the needs of our advisors and their clients during and after the storm,” Reilly explained

Reilly praised the company’s workforce for their resilience and commitment during this challenging time: “The strength, resilience and commitment you continue to show is admirable,” he said, adding “We will get through this, together.”

According to a Raymond James representative, although the St. Petersburg home office reopened, many associates worked remotely last week while the office was primarily used as a hub for associates and their families to drive up or go inside for free hot meals and supply kits to restock their pantry with items like milk, eggs, bread, peanut butter, snacks and cleaning supplies.

.