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He'd been in the position at Stifel for three years, after spending over 12 years at Wells Fargo Advisors. ","The opening for David's new role came late last year, Shannon Reid — who formerly held this post — became president of the firm's nationwide Independent Contractor Division. By this time, David said, he was already well acquainted with his future employer. ","<div class=\"paywall-content\">Raymond James had 4,992 independent advisors and a total advisor headcount of 8,710 as of Dec. 31, while Stifel had 108 indie advisors and a total advisor headcount of 3,386.","\"I've always been a fan of the work Raymond James does around the independent advisors model,\" the executive explained in an email, adding that he's worked with Jodi Perry — Raymond James' head of advisor recruiting — on the board of the Financial Services Institute. \"In addition, we've sat on a number of industry panels together,\" he said. ","David, who now reports to Reid, will oversee all independent advisors in Connecticut, the District of Columbia, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont and Virginia, according to a spokesperson for Raymond James. ","\"The Raymond James footprint is rapidly growing in the Northeast division, which presents an exciting opportunity to take part in that,\" David noted. But the region \"tends to be a bit more expensive than most parts of the country, so one challenge that advisor business owners have is the higher cost of running their practices there. The team and I will prioritize helping them continue to grow in an efficient manner.\" ","Asked what Raymond James offered that attracted him, David said he was impressed by the firm's \"unwavering, unrelenting commitment to the independent model.\" He also praised the firm's \"strong platform and visionary executive team.\" ","Looking at the year ahead in wealth management, David said he's noticed a still-growing trend of M&A activity at the practice and broker-dealer level: \"That trend will heat up as rates start coming down. Some of the best leaders I know will continue to be very thoughtful and disciplined in their approach, and that's one of the qualities I've admired in Raymond James.\" ","Commenting on David's departure, a Stifel spokesperson said in an email, \"We wish Alex the best in his new role. Stifel will continue to operate its independent channel and we look forward to its continued success.\"","And one recruiter commented on how Raymond James will benefit from David's hiring. \"Alex is a proven executive in the independent space,\" industry recruiter Phil Waxelbaum of Masada Consulting, said in an interview.","\"He probably brings a lot of talent and leverage to Raymond James … , \" Waxelbaum explained. \" He is perhaps the most notable and most well respected of folks who are active in the DEI space.\"  </div>"],"slides":[],"video":null},"articlePackages":[],"trendingArticles":{"contents":[{"uri":"/2024/11/01/irs-sets-401k-ira-contribution-limits-for-2025/","title":"IRS Sets 401(k), IRA Contribution Limits for 2025","byline":"Melanie Waddell","summary":"The tax authority also announced changes to catch-up contributions tied to Secure 2.0.","prettyDate":"November 01, 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