“Quite frankly the best market that we’re not in is that Seattle market,” John Kuklenski, the divisional director of Raymond James’ north central division, said to Mason Braswell, reporting for OnWallStreet.com. “Our highest priority is to establish a presence out there.”
In March of this year, Kuklenski recruited David Wright, who had previously been a manager in charge of business development with Morgan Stanley, to be the point-man in charge of opening Raymond James & Associates first employee advisor office in the city. Wright has since begun conversations with veteran brokers in the area to join the office.
“The Seattle, Puget Sound and Pacific Northwest market is definitely a very strong market. There are tremendous opportunities for financial advisors to grow their business and you’re finding now that other firms are seeing that as well.”
A number of firms have been moving in or increasing their focus on the area. Along with Raymond James, Stifel and JPMorgan are showing increasing interest in the area.
“It’s a very dynamic marketplace with a lot of big businesses that are the new generation of wealth creation…It’s one of the top hot markets to be paying attention to,” according to Stifel spokesperson, John Lee, Western Regional Director for Stifel.