Raymond James announced today that it is offering RIAs access to its alternative investments platform, which boasts 22 research analysts and product developers.
The move is the latest in a series of several enhancements to the firm’s Investment Advisor Division under the unit’s new president, Bill Van Law.
It comes at a time when Raymond James is experiencing rapid growth in both its RIA-only and RIA-hybrid business units. Van Law and others at Raymond James believe access to attractively priced alternatives will empower advisors to win more high-net-worth clients. Over the last year, the firm has experienced the most new client growth in the $5-million-and-up segment.
Raymond James’ alternative investments committee is chaired by Tom James, who has remained chairman of the firm since stepping down as CEO three years ago. James spent more than three decades running the firm. According to advisors affiliated with the firm for several decades, Raymond James made a serious move into alternatives early in the last decade when they were looking for non-correlated investments after the long bull market of the 1990s ended.
When Van Law took over the firm’s IAD unit last year, he conducted a complete review of the business. Earlier this year, Raymond James announced a more competitive pricing structure for IAD, bringing it into about the same range as other leading custodians.
“We have been enhancing our RIA platform over the last several year months to develop a truly unique value proposition for RIAs, one that provides more freedom and control with the resources we can provide as a full-service firm,” Van Law said.
Van Law believes that the strength, depth and experience of Raymond James’ alternative investment platform will help differentiate the firm in today’s highly competitive custodial arena. The team provides research, marketing, sales and operational support for many different investment strategies, including private equity, managed futures, multi-manager hedge funds, single manager hedge funds, private real estate and alternative mutual funds.