Separately, a Merrill duo generating $1 million split to join Raymond James Financial and Stifel, Nicolaus.
A boat moving through waters near the Bahamas? A Harley-Davidson at the Sturgis motorcycle rally in western South Dakota? Or just beside your pool? In the remote era, the next frontier is still a question mark.
The company’s hiring across its independent and employee channels is on pace for a record year after a “very slow” start, Chief Executive Paul Reilly said on Thursday.
Robert Mitchell, a million-dollar-plus producer at Morgan Stanley, follows the lead of others fired for compliance missteps by joining a regional firm.
Scott Curtis, head of RayJay’s more than 8,000 advisors, says some may be able to work from home indefinitely with adequate in-office support.
In response to competition, Raymond James hikes hiring bonuses, eliminates a longstanding production quota for recruits and will absorb loan balances of deceased advisors.
Richard Altieri, a Chairman’s Club producer pushed out last week over alleged procedural lapses, has agreed to join Raymond James’ employee branch channel.
The firm added 131 advisors last year, down from the 150 who joined in 2019, but CEO Ron Kruszewski forecasted a pick-up in hiring even as a rival warned of increased competition.
Raymond James has been forced to raise advisor recruiting deals in its employee channel to combat stiff competition.