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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1. Name and Address of Reporting Person * TREMAINE THOMAS R   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) Executive Vice President - RJA (Last) (First) (Middle) 880 CARILLON PARKWAY 3. Date of Earliest Transaction (Month/Day/Year) 03/22/2006 (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               35,670 (1) D   Common Stock               6,585 (2) I ESOP

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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)

$ 14.222

11/28/2004

01/28/2007

Common Stock

13,500 (3) (4)

13,500

D

Employee Stock Option (right to buy)

$ 14.0222

12/10/2005

02/10/2008

Common Stock

11,250 (5) (6)

11,250

D

Employee Stock Option (right to buy)

$ 16.8

12/04/2006

02/04/2009

Common Stock

5,382 (7)

5,382

D

Employee Stock Option (right to buy)

$ 16.8

12/04/2006

02/04/2009

Common Stock

12,618 (8) (9)

12,618

D

Employee Stock Option (right to buy)

$ 24.9733

12/01/2008

02/01/2011

Common Stock

15,000 (10) (11)

15,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
TREMAINE THOMAS R 880 CARILLON PARKWAY ST. PETERSBURG, FL 33716			Executive Vice President - RJA

Signatures

Thomas R. Tremaine		03/29/2006
**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)	On March 22, 2006, the common stock of RJF split 3 - for - 2, resulting in the reporting person's acquition of 11,890 additional shares of common stock.
(2)	On March 22, 2006, the common stock of RJF split 3 - for - 2, resulting in the reporting person's acquition of 2,205 additional shares of common stock. The shares also included shares acquired under ESOP through March 22, 2006.
(3)	Options Currently exercisable - 10,800 Options Becoming exercisable 2,700 on 11/28/2006
(4)	This option was previously reported as covering 9,000 shares at an exercise price of $21.33, but was adjusted to reflect the stock split on March 22, 2006
(5)	Options Currently exercisable - 2,250. Options Becoming exercisable - 3,938 on 12/10/2006 and 5,062 on 12/10/2007
(6)	This option was previously reported as covering 7,500 shares at an exercise price of $21.03, but was adjusted to reflect the stock split on March 22, 2006
(7)	This option was previously reported as covering 3,588 shares at an exercise price of $25.20, but was adjusted to reflect the stock split on March 22, 2006
(8)	Options Becoming exercisable - 378 on 12/04/2006, 1,620 on 12/04/2007, 5,400 on 01/04/2008 and 5,220 on 01/04/2009
(9)	This option was previously reported as covering 8,412 shares at an exercise price of $25.20, but was adjusted to reflect the stock split on March 22, 2006
(10)	Options Becoming exercisable - 9,000 on 12/01/2008, 3,000 on 12/01/2009 and 3,000 on 12/01/2010
(11)	This option was previously reported as covering 10,000 shares at an exercise price of $37.46, but was adjusted to reflect the stock split on March 22, 2006

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