Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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
OMB APPROVAL
OMB Number: 3235-0362
Expires: January 31, 2005
Estimated average burden hours per response... 1.0

1. Name and Address of Reporting Person *
AVERITT RICHARD G
 2. Issuer Name and Ticker or Trading Symbol
RAYMOND JAMES FINANCIAL INC [RJF] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CEO - RJFS
(Last)
(First)
(Middle)

880 CARILLON PARKWAY		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
09/30/2006
(Street)


ST. PETERSBURG, FL 33716		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(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 at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock             179,414 D  
Common Stock             39,213 (6) I ESOP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

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 at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 14.2222           11/28/2004 01/28/2007 Common Stock
13,500 (1)
  13,500
D
 
Employee Stock Option (right to buy) $ 14.222           12/10/2005 02/10/2008 Common Stock
42,597 (2)
  42,597
D
 
Employee Stock Option (right to buy) $ 14.0222           12/10/2005 02/10/2008 Common Stock
13,653 (3)
  13,653
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 (4)
  10,800
D
 
Employee Stock Option (right to buy) $ 24.9733           12/01/2008 02/01/2012 Common Stock
15,000 (5)
  15,000
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
AVERITT RICHARD G
880 CARILLON PARKWAY
ST. PETERSBURG, FL 33716		       CEO - RJFS  

Signatures

Richard G. Averitt 09/30/2006
**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) Options currently exercisable 10,800, Options Becoming exercisable - 2,700 on 11/28/2006
(2) Options currently exercisable 31,618, Options Becoming exercisable - 6,858 on 12/10/06 and 4,121 on 12/10/07
(3) Options currently exercisable - 2,130, Options Becoming exercisable - 4,392 on 12/10/2006 and 7,131 on 12/10/07
(4) Options Becoming exercisable - 5,400 on 1/04/2008 and 5,400 on 1/04/2009
(5) Options Becoming exercisable - 3,750 on 12/01/2008, 3,750 on 12/01/2009, 3,750 on 12/01/2010 and 3,750 on 2/01/20011
(6) Includes Number of shares acquired under ESOP through 09/30/06

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.