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Raymond James Tag

financial advisors

Recruiting Speeds Up

20:05 31 August in In the News by rafferty

By Dan Jamieson

August 2017 issue of Financial Advisor Magazine

Recruiting activity among independent broker-dealers is regaining momentum now that the DOL rule is back on track.

Many advisors have been evaluating their broker-dealer relationships in light of the new requirements the DOL will impose. Big firms like LPL Financial and Raymond James are changing their payout formulas in response to the rule and others are likely to follow.

But independent broker-dealer execs say that some recruits in the pipeline held back on making decisions early in the year after President Trump ordered a review of the rule. That gave opponents of the DOL plan—including many B-Ds and independent reps—some hope that the rule would be indefinitely postponed.

But the U.S.

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financial advisors

Raymond James Financial Moving To Single Payout Grid

19:42 05 July in In the News by rafferty

July 5, 2017

By Dan Jamieson, Financial Advisor

 

In response to the DOL fiduciary rule, Raymond James Financial Services will be changing its compensation plan so that all production is paid off of one grid.

The move comes at a time when many broker-dealers are wrestling with the issue of broker payouts in expectation that they will face more scrutiny in a post-DOL world. Some observers speculated that the switch to a single payout grid was designed to eliminate the perception of potential conflicts of interest.

Next year, the independent contractor unit of Raymond James Financial will switch to a single payout grid that starts at 81 percent for trailing 12-month branch production up to $500,000, topping out at 90 percent at the $10 million-plus level.

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