Raymond James Financial
RJF
Financials
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Multi-state settlement $12.4M (July 2023) for charging unreasonable commissions on small-dollar retail equity trades; ViolationTracker documents broader pattern of retail investor harm.
Raymond James Financial provides investment banking, capital markets, and financial advisory services to fossil fuel companies. Its Capital Markets division offers underwriting and M&A advisory specifically for the energy sector, including oil and gas clients. The firm’s 2023 Sustainability Report notes that its financed emissions are concentrated in the energy and power generation sectors, with its oil and gas portfolio representing a material portion of its overall carbon footprint. While the report discloses financed emissions and sets intensity reduction targets, the firm’s ongoing business model remains dependent on facilitating capital flows to fossil fuel operators.
Research Sources
6 organizations
Related Exclusions
Wondering what we do invest in?
The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.