04.25.23

Raymond James PCG Boss to His FAs: We Won’t Compete With You

by: Sam Del Rowe

After topping about $1 trillion in assets under administration last year, Raymond James is now targeting the $2 trillion milestone for its advisor by 2030. The plan was explained by Scott Curtis, president of the Private Client Group, during the opening session of the firm’s 2023 Elevate Conference. During a presentation, Curtis highlighted the opportunities and challenges facing the business and affirmed that Raymond James is not looking to make any major changes to its approach to the advisory business. He was particularly emphatic that Raymond James won’t be developing a direct-to-consumer business model to accelerate or mitigate the cost of growth and noted that the firm is pushing back against the U.S. Department of Labor’s proposed rules that would change the way firms classify independent contractors versus employees.

Read the full article on Financial Advisor IQ