Raymond James Is on a Recruiting Tear, Exec Says

Raymond James is seeing recruiting success “across the board this year” within the broker-dealer’s channels, according to Scott Curtis, president of the firm’s Private Client Group.

“We’re in deep conversations with large teams, more than what we’ve seen historically,” Curtis told reporters Tuesday at the Raymond James Elevate conference, held at National Harbor, Maryland, just outside Washington. The teams, Curtis said, have “$1 billion plus” in assets.

“I can’t recall a time in our history where we’ve been engaged with as many large teams as we are right now,” said Curtis, who will become chief operating officer of Raymond James Financial on Oct. 1.

All of Raymond James’ channels, Curtis added, “are growing.”

Growth “comes in three ways” at Raymond James, added Tash Elwyn, president and CEO of Raymond James & Associates, during the media briefing.

First, “We’re honored to continue to be able to retain, and serve and support advisors,” Elwyn said. Second “is by helping advisors serve their clients.” And third, he said, is the “really significant momentum … that we see across all of our PCG affiliations in terms of recruiting throughout the industry.”

What’s spurring the movement of large teams?