In a prior article written for Seeking Alpha, I described the three risks that potential investors in Raymond James Financial, Inc. (RJF) should consider before making a financial commitment. These risks were fee compression on the asset management business, lower spreads in the banking business, and intense competition in the advisory business. Immediately after publishing the article, I received some comments in response to my article praising the RJF management team, to which I replied in agreement. I am writing this follow-up article on RJF to further expound on the matters related not