Raymond James centralizes leadership of the firm's custody offering, announces combined RIA & Custody Services division

ST. PETERSBURG, Fla. – Continuing the firm’s commitment to advisor choice and the independent RIA and broker/dealer custody businesses, Raymond James announced the consolidation of two Private Client Group (PCG) units – the Investment Advisors Division (IAD) and Custody & Clearing Division – into the firm’s new RIA & Custody Services (RCS) Division, according to Scott Curtis, PCG president.

“Expecting continued growth in the number of independent RIAs and breakaway advisors, we’re investing in the platform and services to support their evolving needs,” said Curtis. “Rather than operating as separate business units, there are resource and support synergies with our combined RCS division, providing a more comprehensive and efficient platform for our RIA and broker/dealer client firms.”

The firm’s Investment Advisors Division, established in 2001, provides custodial and support services to independent Registered Investment Advisors (RIAs). The Custody & Clearing Division, established in 1982, provides custody and clearing services to broker/dealers. Greg Bruce, currently Senior Vice President and National Director of IAD, will become Senior Vice President, Head of RIA & Custody Services, and will lead the combined division, directing support for existing clients and leading RCS’ growth plans. 

“We’re excited to introduce the combined RCS division and look forward to providing the high-touch support that our independent RIA and broker/dealer client firms have come to expect and trust from Raymond James,” said Bruce. “RCS offers a unique value – access to Raymond James’ integrated products and services platform, with the freedom and flexibility to utilize what’s needed to manage their business.” 

In addition to the RCS platform, Raymond James continues to offer a full spectrum of affiliation options through AdvisorChoice®, launched over 15 years ago. Affiliation options include employee advisor, independent employee, independent advisor, bank or credit union advisor, and independent RIA. In 2016, Raymond James introduced the ability to affiliate as an employee advisor through Alex. Brown, a division of Raymond James & Associates.

In addition to the affiliation options available, Raymond James offers advisors industry-leading technology, the ability to customize marketing and social media, a broad range of banking, capital markets and asset management support, and direct access to management and subject matter experts.

About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,200 financial advisors. Total client assets are $945 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com. Raymond James & Associates, Inc., member New York Stock Exchange/SIPC.