Raymond James Gives Fee-Only Advisors New Model

By Janet Levaux

News May 13, 2022 at 03:24 PM

Share & Print

Raymond James is rolling out a new affiliation option for independent financial advisors: a corporate registered investment advisor model for investment advisor representatives, or IARs, who run fee-only practices.

It made the announcement Thursday as it prepares to host its Elevate national conference May 16-18 in Nashville, Tennessee.

"With an increasing number of advisors operating fee-only practices, the Corporate RIA offers an exceptional experience designed specifically for IARs seeking complete back-office and regulatory support," according to Private Client Group President Scott Curtis.

This affiliation, he added, gives fee-only advisors "access to the breadth of resources of a global wealth management firm while maintaining the independence of their business."

Advisors using Raymond James' corporate RIA will be able to use the firm's wealth strategies; turnkey asset management options; lending, insurance and research; and its department specialists. They can also work with the firm's technology platform, marketing resources and succession planning services.

"This affiliation option is attractive to advisors who want to manage their fee-only practice without the time-consuming requirements of operating an independent RIA," Curtis explained in a statement. "Our goal, as it is with every advisor and practice, is to support advisors' growth and success, providing flexibility that recognizes their evolving business models."

As of March 31, Raymond James worked with 8,730 financial advisors, of whom 5,129 are independent. The Private Client Group had about $1.2 trillion in assets under administration; fee-based accounts had $678 billion of assets.

NOT FOR REPRINT