Raymond James Investment Banking Job – In October, the first 49 advisors will graduate from the new program as part of the firm’s strategic focus on expanding advisor resources to clients with assets greater than $5 million.
Raymond James created the Private Wealth Advisors Program, an education and training program for advisors to high net worth clients. The first 49 advisors, part of a beta version of the program, will graduate from the program next month after earning the firm’s new Private Wealth Advisor designation.
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Kim Jensen, chief operating officer of the firm’s private group clients, said: “This is a very important part of a larger, broader initiative at Raymond James to deepen our services to high and ultra-high net worth individuals. Solutions and support provided by the client’s advisor.” Inc. “The designation program is really about building out an already strong advice and planning platform and solutions for advisors who are focusing their business on clients investing more than $5 million.”
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With the launch of the program, the firm’s Global Wealth Solutions division doubled the size of its wealth strategy and advisory team.
The firm expects more than 200 consultants to complete the program by the end of 2023, Jensen said. Raymond James has partnered with Cannon Financial, a professional training and coaching agency, to provide training around nine components: Trusts, Estate Planning, Taxation, Commercial Estate Planning, Wealth Transfer, Banking and Loans, Balance Sheets and Personal Financial Statements, Insurance, Long Term Nursing and Family Behavior Counseling.
Raymond James will also provide continuing education for designation holders. Applicants are required to pay a fee to enter the program, which is refunded upon graduation.
The firm is expanding its private wealth services division, which it launched earlier this year, with the appointment of Kevin Root as senior vice president of private wealth. Most recently, Ruth was Head of Wealth Planning and Personal Trusts at Fidelity Investments.
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Leticia Boyle, senior vice president and head of sales, education and engagement, said the firm has improved its private wealth products for clients, including donor-advised funds, securities-based loans, and lines of credit and homes Equity loan options.
“What we want to do is expand our current platform and make it easier for advisors to provide more personalized and sometimes complex advice to clients who are looking for it, while we make sure that we are expanding and deepening our expertise across the firm. knowledge,” Boyle said.
Raymond James Investment Bank also offers advisors more private and alternative investment options. The investment bank has launched an invitation-only consultant training program for business owners who may be planning a succession, company sale or financing, Jensen said.
“The private wealth market is the fastest growing segment of the market, with growth coming from business sales, retirement, business succession, etc.,” Jensen said. “Our advisors are already very experienced in serving high and ultra high net worth families and this will only help them take that to the next level and allow them to be more focused if they so choose.” Senior Family Chevron Icons show an expandable tab or menu, or sometimes previous/next navigation options. finance
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Raymond James hikes base pay for investment bank analysts, but group chief says he doesn’t expect total profits to be higher
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Raymond James is raising base salaries for junior bankers, but the firm’s young talent may not actually see more money by year’s end.
According to an email sent by James Bunn, president of global equities and investment banking at Raymond James, the firm is increasing base compensation for investment banking analysts to $105,000 in the first year, $110,000 in the second year and $125,000 in the third year. Dollar. The price increase will take effect on October 1.
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While Bunn said in the email that the salary increase should put Raymond James at the “high end of Wall Street analyst salaries,” the junior banker likely won’t get any more total compensation than before.
“Importantly, our primary focus is total compensation (salary + bonus) and these raises do not imply an increase in total profits,” said the email, which was first shared by financial meme account Litquidity.
This spring, Wall Street firms offered junior bankers bonuses and higher base salaries. Raymond James handed out a $20,000 bonus in April and promised an additional $10,000 in December as part of a talent retention bid, according to Bloomberg.
At Lazard, Morgan Stanley, UBS, Deutsche Bank, PJ Solomons, Barclays, and JPMorgan Chase, entry-level investment bankers now earn a base salary of $100,000.
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Are you a young person working on Wall Street? Please contact Samantha Stokes via email [email protected], Signal at 646-389-7866 or direct message on Twitter @stokessamanthaj.
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Raymond James has expanded its Senior Living and Debt Restructuring group to three staff in Public Finance.
The David Fields, Rob Whitlock and Naomi O’Dell team join the firm from RBC Capital Markets, bringing a combined 80 years of experience in investment banking and debt restructuring.
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Gavin Murray, Head of Public Finance and Debt Investment Banking at Raymond James, said: “The addition of this dedicated and experienced team underscores our continued commitment to developing our entire municipal platform.”
David Fields, Rob Whitlock and Naomi O’Dell join Raymond James, bringing decades of investment banking and debt restructuring experience.
The trio will work within the firm’s specialist debt restructuring and senior teams, providing strategic advisory services to clients, including debt restructuring, associations, partnerships, mergers and acquisitions, dispositions, bond transactions and alternative financing activities.
Previously, Fields was a managing director at Royal Bank of Canada in Philadelphia, focusing on high yield and debt restructuring.
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“Most debt restructuring businesses involve distressed entities and require expertise and attention,” Fields said. “With its strong public finance practice and extensive resources, the firm is well-positioned to enhance our ability to provide the high level of support and personalized, high-performance coaching our clients have come to expect.”
Fields played a key role in transactions involving more than $3 billion in strategic asset dispositions and more than $5 billion in senior debt offerings. His 30-year career also includes stints at UBS and HJ Sims. He holds a BA from the University of Rochester and an MBA from Union College.
Whitlock has nearly 30 years of experience in investment banking, financial advisory and consulting, and has been involved in hundreds of senior financing and business engagements. He started his career as an appraiser, went to PwC in healthcare consulting, and spent 20 years as an investment banker at UBS and RBC.
Whitlock, who will also be based in the Philadelphia office, holds a BA from the University of Delaware and an MBA from Clemson University.
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Based in Chicago, O’Dell has focused on healthcare and nonprofit finance for more than 20 years. She has negotiated more than $500 million in real estate and note sales and participated in more than 200 financings. O’Dell spent nearly five years as a managing director at RBC and was previously senior vice president and department head at Santander Bank. She manages multiple asset recovery departments with approximately $4 billion in assets under management. O’Dell began his career at LaSalle Bank as a merchant banker and is a graduate of Bradley University.
“We are delighted to welcome these three talented senior bankers to our nationally ranked public finance practice,” said Murray. “Their innovative debt restructuring capabilities complement Raymond James’ more traditional offering in the senior housing space.” Insurance.”
Raymond James Financial Inc.’s products are headquartered in St. Petersburg, Florida. Includes a group of private clients, capital markets, asset management, banking and other services for individuals, companies and municipalities.
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