“Growth at our firm is about assets and revenues – not numbers of advisors,” Scott Curtis, president of Raymond James Financial Services, told attendees at the firm’s national conference in Las Vegas on Tuesday.
Advisor headcount is up about 5 percent over the past five years (fiscal year 2010 to December 2014), Curtis announced Tuesday. But the firm’s nearly 3,400 advisor force still down from the high of about 4,000 advisors employed by the firm about 10 years ago. There was a period where the firm focused on weeding out advisors who were only part-time, prior to his tenure, Curtis added.
Client assets held by the firm are up over the past five years, Curtis said. Average productivity per advisor within Raymond James Financial Services is about $540,000 as of December 2014, he added. "The advisors who are affiliated with us, on average have higher productivity than overall [industry] average," Curtis said.
