Raymond James Adds Instagram to Advisor Marketing Program

News February 21, 2023 at 03:21 PM
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Raymond James Financial has expanded its digital marketing program for advisors, adding Instagram Professional to the list of advisors' marketing tools, the firm said Tuesday.

The company intends to continue expanding advisors' marketing capabilities, with "plans for a focused launch of YouTube and Spotify podcasting in the coming months," it disclosed.

These capabilities support advisor brand-building and help practices develop deeper connections with their clients, Raymond James said.

The firm ramped up its tech offerings last year and planned to invest about $500 million in technology during fiscal 2022 as it sought to strengthen the capabilities of its advisors and improve the overall advisor and client experience, Paul Reilly, Raymond James Financial CEO, told ThinkAdvisor last spring.

Raymond James didn't specify how much it plans to spend on digital marketing capabilities this year.

But "the firm's annual investment in technology has increased from $500 million in 2022 to $700 million in 2023," a company spokesperson told ThinkAdvisor on Tuesday.

Since 2011, Raymond James has been offering advisors support in posting on popular social platforms including Facebook, LinkedIn and Twitter.

The firm's advisors can select from multiple social engagement options, from self-driven, custom content to sharing from a pre-approved library of curated content using the firm's internal RJ Connect portal, which is integrated with email and custom advisor website support, the company said.

RJ Connect now has more than 10,000 active users among Raymond James advisors and branch associates, it said.

"Consistent with our advisor-centric approach, we will continue working in partnership with advisors, helping them build their brands and grow their businesses while remaining compliant with regulations," according to Scott Curtis, president of the Raymond James Private Client Group.

"The addition of Instagram Professional creates an opportunity for advisors who work with next-generation clients to access the typically younger demographic of that channel," Erica Sackett, vice president of marketing and digital strategy at Raymond James, said in a statement. YouTube and Spotify podcasting, meanwhile, "offer a space for advisors who are experienced content creators to leverage rich audio and visual components."

She added: "Thought leadership is an important part of an advisor's brand, especially when they have a specific client niche or area of expertise. Social platforms can serve to amplify that value proposition, which our marketing services help advisors to establish and integrate across their digital and physical footprint."

Raymond James Financial has about 8,700 advisors who managed total client assets of $1.17 trillion as of Dec. 31, it said.

(Pictured: Raymond James' headquarters in St. Petersburg, Florida)

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