Recruiting

The fast-growing firm now has more than 100 brokers.

The No. 1 IBD aims to triple its potential target market reach, in part by adapting some aspects of employee services to independence.

The regional BD opened its third new location in Texas this year.

The wirehouse loses four more advisors to the regional BD.

The firm had cut back on hiring efforts in 2016, citing exorbitant costs.

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Two of the new hires are brothers who spent more than 20 years at the wirehouse.

The recruits also opened a new branch for the regional BD.

One advisor has more than three decades of experience in the business.

The BD’s employee channel is attracting more independent reps through offerings like technology and practice acquisition support.

The new player aims to disrupt the sector despite losing some 300 reps to other firms.

The advisors managed more than $225 million in combined client assets.

One departing practice managed $100 million in assets.

Several of the new recruits had spent more than a decade with Questar.

The team joins Raymond James’ burgeoning brokerage ranks, which recently hit 7,862 independent and employee advisors.

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The firm aims for a bigger foothold in a competitive sector with new offerings around tech, service, advisory programs and practice management.

While the wirehouse has suffered from advisor attrition, the regional BD has grown its brokerage ranks.

CEO Dan Arnold presented details of the firm's mounting ambition after announcing the acquisition of a brokerage and RIA with $3 billion in client assets.

The IBD last recruited a practice from Cetera in October.