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RAYMOND JAMES FINANCIAL, INC.

RAYMOND JAMES FINANCIAL, INC. General Agency. Raymond James Growth. As of September 27, 2002. *Includes RJ&A, RJFS IMD, SD & FID Financial Advisors, RJ Ltd.(Canada) and Institutional licensed associates. FY 2002 Annuity Sales. $3.05 Billion U.S. $.65 Billion U.S. $2.4 Billion U.S.

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RAYMOND JAMES FINANCIAL, INC.

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  1. RAYMOND JAMES FINANCIAL, INC. General Agency

  2. Raymond James Growth As of September 27, 2002 *Includes RJ&A, RJFS IMD, SD & FID Financial Advisors, RJ Ltd.(Canada) and Institutional licensed associates.

  3. FY 2002 Annuity Sales $3.05 Billion U.S. $.65 Billion U.S. $2.4 Billion U.S. Fixed Annuities = 13.8%Variable Annuities = 77.5%Group Annuities = 8.7%

  4. Raymond James Overview • Raymond James & Associates (RJA) • 87 Offices • 970 Financial Advisors • Raymond James Financial Services (RJFS) • 2,090 Offices • 3,827 Financial Advisors

  5. Product Selection • Marketplace is Overcrowded • Process • Initial Company Review • Product Review • In-depth Financial, Operations & Marketing Review • Looking For Incremental Growth • Not All Products Offered By A Company Are Automatically Approved

  6. Annuity Company Focus Program • Focus Company Status Determined by FY Sales • Cannot Buy Into Program • Financial Advisors Ultimately Decide • Benefits of Being a Focus Company • Support • Visibility • Access • First Choice • Results • Part of Select Group of 13 Companies • 70.6% of Individual Annuity Sales for FY 02

  7. Success Factors, Challenges & Trends • What Makes it Work • Wholesaling • Product • Technology • RELATIONSHIP • Producer Concerns (Challenges) • Financial Safety of Companies • Complexity of Products • Regulatory Scrutiny

  8. Success Factors, Challenges & Trends Industry Trends • Focus on Defensive Features • Living Benefits • Principal Protection Strategies • Curtailment of Commission Enhancements • Fewer and Shorter Periods • Income/Distribution Market Increasing • Product Innovation • Simpler Language

  9. Wrap-Up Positioning • Average Producers • Frequent “Touches” • Sales Ideas • Hands-On Help • Top Producers • Recognition • Practice Management Ideas • Responsiveness

  10. Wrap-Up How Has JNL Done It? • Attention to Penetration • Proactive Partnering • Focus on Relationship

  11. Wrap-Up Concerns About Industry • Got Off Track • Feature Frenzy • Focus on Market Share • Adequate Pricing • Product Sale vs. Part of Planning Process

  12. Wrap-Up Silver Lining • Environment is Forcing “Back to Basics” • Mainstreaming of Product by Selling Firms • Return to Focus on Financials

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