Van Law to Step Down as Head of Raymond James' RIA Group

"It's been a privilege to work within Raymond James' unique, client-first culture since joining in 2003," said Van Law om a statement. "I am looking forward to time with my family before pursuing the next chapter in my life and career."

RIA Growth

Raymond James' Investment Advisors Division grew its assets under management by 36% in the fiscal year ending Sept. 30, 2017, over the prior-year 12 months. Of the new firms joining it, 35% were active RIAs — not wirehouse breakaways, which had been the norm, according to Van Law.

The group, which hosted its 10^th annual Wealth Managers Conference in October in Boca Raton, Florida, drew a crowd of nearly 400 RIAs and other guests, including about 50 representatives of prospective RIA firms.

"We recruit a good cross-section of the folks, and about two-thirds are breakaways," Van Law said in an interview at the time. The other third are existing RIAs looking to change their custodian, "which was our biggest surprise following the relaunch of our RIA platform, a process we started about six years ago."

Raymond James has "a broad full-service platform" and "understands organic and inorganic growth, so we help [RIAs] by making ourselves and our resources available," he explained.

"I believe breakaways have reached a tipping point," said Van Law. "And while the RIA model continues to attract advisors from the large national firms, the appeal of Raymond James is that it's so much more than just a service provider or custodian, but a true partner to its RIAs."

— Check out Raymond James Adds 2 Recruiters in West on ThinkAdvisor.