Page 38 - Investment Advisor April/May 2023

BROKER-DEALER BEAT

RJ Connect now has more than 10,000 “The addition of Instagram Professional She added: “Thought leadership is an
active users among Raymond James advi- creates an opportunity for advisors who important part of an advisor’s brand, espe-
sors and branch associates, it said. work with next-generation clients to cially when they have a specific client
“Consistent with our advisor-centric access the typically younger demographic niche or area of expertise. Social plat-
approach, we will continue working in of that channel,” Erica Sackett, vice presi- forms can serve to amplify that value
partnership with advisors, helping them dent of marketing and digital strategy proposition, which our marketing services
build their brands and grow their busi- at Raymond James, said in a statement. help advisors to establish and integrate
nesses while remaining compliant with YouTube and Spotify podcasting, mean- across their digital and physical footprint.”
regulations,” according to Scott Curtis, while, “offer a space for advisors who are Raymond James Financial has about 8,700
president of the Raymond James Private experienced content creators to leverage advisors who managed total client assets
Client Group. rich audio and visual components.” of $1.17 trillion as of Dec. 31.

How Raymond James Is Cultivating Black Advisor Talent
After recently holding its ninth annual Black Financial Advisors Raymond James is focused on “providing opportunities to
Network Symposium, Raymond James diversity leaders pointed shift and disrupt the status quo when it comes to increasing
to the progress BFAN has made over the past nine years. But, representation in this industry and profession.”
as the firm gears up for the 10th BFAN Symposium next year, She added: “It is about progress and we know that we
company leaders made it clear they’re still working toward want to be part of the change of what it looks like to grow
new diversity milestones throughout the year, with career fairs, representation in this industry, and there’s so many ways
internships and other programs to build a diverse talent pipeline. that we’re doing that here at the firm.” For example, this year,
The goal of these programs is to expose students of vari- BFAN worked in partnership with the University of South
ous majors, career changers and others who may not have Florida Diversity Initiatives Black Leadership Network to host
considered a career in financial services to the opportunities a student track during the BFAN Symposium, Fils pointed out.
available, according to Renée Baker, head of the Private Client In addition to networking with firm leaders, participating
Group’s Advisor Inclusion Networks at Raymond James. students had the opportunity to listen in on a next-generation
“We recognize that there’s only a limited pool of individuals advisor best practices panel and hear insights on the firm’s
that are currently Black experienced financial advisors,” she recruitment process from its campus recruiting team, accord-
explained during a recent interview. ing to Raymond James. Also, “as we think about the next
Therefore, the work that the BFAN Advisory Council is doing generation, we’re going to have our next-generation advisors
is “really about creating a pipeline [for] talent development,” who are in our Advisor Mastery program, which is our train-
she said. “So we recognize that, in order to move the needle, ing program,” he added, noting it was created in 2012.
we have to get into colleges and universities.” That is why He added: “We want to go even deeper and think about
the firm is “working to attract the next generation of leaders those that are in college who are going to be graduating soon,
through our various training programs that we offer, career and spending time with the local college and other colleges
fairs and internships and other opportunities where we can that we partner with.”
share more about this profession and help the next generation Since 2014, Raymond James has also had a Registered
see the opportunity that we have here at Raymond James.” Associate Mentor Program (RAMP) for associates who he
The ninth BFAN Symposium, held in Palm Harbor, Florida, said “may be in a support role where it gives them a path to
was the best-attended one yet, with more than 160 attend- where they spend a year of training … [and] it gives them a
ees, said Baker, who noted there were only about 35-40 glide path to become an advisor if they choose to.”
advisors at the first BFAN Symposium. The event’s theme The firm also started a two-year Wealth Management
this year was “cultivating progress,” noted Chris Fils, complex Associate Program in 2020 that applicants can enter before
manager and BFAN Advisory Council member. they enter the training program, he said, noting those
“Cultivating progress is really our goal here at Raymond enrolled in the Associate Program spend time with advisors,
James: to provide an opportunity for Black financial advisors get to run financial plans, help in client meetings and get
to network, learn, share and really collaborate on best prac- familiar with the firm’s tools and technology. That program,
tices of growing their businesses,” Baker explained. Pointing he explained, “gives them a longer roadway before they start
out that the firm has four advisor inclusion networks, she said the training program.” —Jeff Berman

36 INVESTMENT ADVISOR APRIL/MAY 2023 | ThinkAdvisor.com