Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HELCK CHESTER B
   2. Issuer Name and Ticker or Trading Symbol
RAYMOND JAMES FINANCIAL INC [RJF] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Operating Officer
(Last)
(First)
(Middle)
880 CARILLON PARKWAY		 3. Date of Earliest Transaction (Month/Day/Year)
01/24/2008
(Street)

ST. PETERSBURG, FL 33716		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/24/2008   M   49,141 A $ 14.0222 214,580 D  
Common Stock               7,443 (1) I ESOP
Common Stock               6,491 I Spouse

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 14.0222 01/24/2008   M     49,141 12/10/2005 02/02/2008 Common Stock 49,141 $ 14.0222 0 D  
Employee Stock Option (right to buy) $ 14.0222             12/10/2005 02/10/2008 Common Stock 7,130   7,130 D  
Employee Stock Option (right to buy) $ 16.8             12/04/2006 02/04/2009 Common Stock 7,200   7,200 D  
Employee Stock Option (right to buy) $ 16.8             01/04/2008 02/04/2009 Common Stock 10,800 (2)   10,800 D  
Employee Stock Option (right to buy) $ 24.9733             12/01/2008 02/01/2012 Common Stock 15,000 (3)   15,000 D  
Employee Stock Option (right to buy) $ 30.44             11/27/2010 01/27/2014 Common Stock 15,000 (4)   15,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HELCK CHESTER B
880 CARILLON PARKWAY
ST. PETERSBURG, FL 33716		   X     Chief Operating Officer  

Signatures

 Chet B. Helck   01/25/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes number of shares acquired under ESOP through 01/24/2008
(2) Options Becoming exercisable - 5,400 on 1/4/2009
(3) Options Becoming exercisable - 3,750 on 12/01/2008, 3,750 on 12/01/2009 and 3,750 on 12/1/2010 and 3,750 pm 2/01/2011
(4) Options Becoming exercisable - 9,000 on 11/27/2010, 208 on 11/27/2011, 2,792 on 1/27/2012 and 3,000 on 1/27/2013

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