A few things I learned about the Raymond James RIA effort in an NYC sit-down with Bill Van Law
The St. Petersburg, Fla. company's appraoch to the RIA business will be to do more for bigger RIAs that hunger for fuller custody service
Stephen Winks
Raymond James has a real shot at being the exception to the rule when it comes to the limitations of the brokerage format in supporting advisory services. Bill Van Law’s being open to professional standing and fiduciary duty alone places RJ ahead of the pack. Advisors and professional standing go hand and hand, not possible in a brokerage format.
Can you imagine there actually being a firm that does not afford “retail investors” lesser consumer protections than those enjoyed by all other investors. RJ would own the business and the “retail investor” marketplace.
The order of magnitude of that achievement would reorder the entire industry to RJs newfound skill set.
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LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
Raymond James Financial Inc.
Asset Custodian
Top Executive: Bill Van Law
