WASHINGTON - Raymond James is seeking organic growth and niche deals this year, despite having plenty of  "excess capital and liquidity," according to Paul Reilly, chief executive of Raymond James Financial.

The St. Petersburg, Fla.-based firm -- whose Private Client Group is parent to both Raymond James Financial Services, an independent broker-dealer, and Raymond James & Associates, an employee advisor channel, as well as a custodial operation and two non-U.S. broker-dealers -- is on track to reach $5 billion in revenue and $450 billion in assets this year, Reilly said at a press briefing at the annual Raymond James Financial Services national conference. 

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