Raymond James Financial recently released the firm’s 2021 fiscal second quarter results. The report shows that the firm saw a significant net increase of new financial advisors — 179 over March 2020 and 84 over December 2020. This brings their total head count to 8,327 financial advisors, a notable increase in comparison to past quarters.
So, what changed to bring about such an increase in new financial advisors? All signs point to the Raymond James transition packages, especially on the independent side of the business. While not traditionally the highest bidder in recruiting wars for talented advisors, the new transition package and advisor-centric culture has made Raymond James an attractive option.
Momentum is growing, and it appears that there’s even more to come over the next quarters. The raised transition assistance is giving Raymond James the recruiting boost they’ve been looking for and the financial boost to compete with other key firms. And while they may not always provide the top dollar compared to some firms, they have the benefits of their culture and values to also bring to the table.
As we progress through 2021, expect to see Raymond James’ recruiting numbers continue to rise. The firm has been hitting the recruiting trail hard, and the word is they have a number of advisors who have committed to joining them — with even more in their recruiting pipeline.
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