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In calm after storm Raymond James showcases three RIA tipping points at RIA confab -- and two of them are good

The St. Petersburg, Fla.-based broker-dealer took unabashed aim at the brokerage model as Tom Giacchetti warned RIAs about an SEC no longer content with firing warning shots

Author Guest Columnist Anthea Penrose October 12, 2017 at 8:57 PM
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Paul Reilly confirmed that, for the first time, the fastest growing segment in the firm’s private client group last fiscal year was its RIA channel.

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Wendy Whitehurst

Wendy Whitehurst

October 15, 2017 — 6:49 PM
"Wendy Whitehurst, director of advisory solutions at $1-billion AUM Great Lakes & Atlantic Wealth Management & Advisory Partners LLC in Charlotte, N.C., talked about successful recruiting efforts on her firm's part and how wirehouse advisors are the most prone to leaving their firms, due in large part to the DOL. Although many potential wirehouse recruits are initially fearful of change, Whitehurst says once she has opened their eyes to what they can do as an RIA, it’s an easy close." This was a statement recently published in RIA Biz. What I want to add--because "it's an easy close" sounds very "salesy," is that we truly take a genuine interest in what will be best for the advisor. A transition to a new firm is life changing and from our experience--for an advisor leaving large brokerage firm and coming to the RIA platfor--a very positive life change. This isn't about the "close." This is about caring and helping another advisor have the best experience life possible as an advisor and offer the best they can offer to their clients.

Related Moves

August 24, 2019 at 4:25 AM

Last year's RIA chief departs Raymond James after ship sails without her at helm of RIA unit, leaving her anchored to COO role

Maria Daley took the reins after Bill Van Law's unexpected departure, but Greg Bruce came on in March to lead RIA Unit, a job she held on interim basis

June 6, 2019 at 2:16 AM

Raymond James finally names new RIA chief and, yes, he is a Schwab veteran

The St. Petersburg, Fla. broker-dealer parted ways with Bill Van Law -- a Merrill Lynch veteran -- a year ago; now it has a real RIA veteran in Greg Bruce

March 4, 2019 at 11:54 PM

Mentioned in this article:

Stark & Stark
Legal Services for RIAs
Top Executive: Tom Giachetti

Raymond James Financial Inc.
Asset Custodian
Top Executive: Bill Van Law

The Gleason Group
Advisory Firm
Top Executive: Gavin T Gleason, CPA

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