Raymond James is looking to attract RIAs from all over the country and has established four regional director positions based on that goal.
But the two areas where Raymond James sees the biggest opportunity are the Northeast and West, Bill Van Law, president of Raymond James’ Investment Advisors Division says.
“We have the lowest concentration of advisors in those areas, but we see plenty of opportunity in the whole country,” he adds.
The St. Petersburg, Fla.-based firm now has 100 RIA firms with total assets under management of about $8 billion, Van Law said.
“The company wants to more than double the number of its affiliated RIAs over the two or three years. The company has been restructuring its advisor division over the last year, and has also been filling in gaps so that its RIA platform offers all of the same technology, trust, lending and other services that an advisor at a wirehouse would have at his or her fingertips.”