Raymond James Boosted Fiscal Q1 Recruiting Budget By 22%

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Raymond James Financial reported that it accrued its recruiting and retention-related compensation by 22% successful its fiscal archetypal 4th ending Dec. 31, 2025, arsenic it continued efforts to gully fiscal advisors to its worker and autarkic contractor channels.

During an net telephone aft markets closed connected Wednesday, Raymond James Chief Executive Officer Paul Shoukry said the steadfast drew advisors with astir $13 cardinal successful clients’ assets from erstwhile companies and trailing 12-month accumulation of $96 million, successful what helium called a “strong effect for a 4th that typically experiences a seasonal slowdown.”

The steadfast besides reported nett caller plus annualized maturation of 8% to $31 billion, the second-best results successful the firm’s history.

“As I’ve been messaging the past fewer quarters here, the recruiting enactment is robust,” Shoukry said. “It’s broad-based crossed our affiliation options, possibly much heavy tilted successful the past six months connected the autarkic contractor broadside of the business.” 

Raymond James reported successful October that it had reached a grounds 8,943 fiscal advisors arsenic of the extremity of fiscal twelvemonth 2025, up 2% from the anterior year. It did not supply an updated advisor headcount done its fiscal archetypal quarter. 

On the call, Shoukry noted accrued contention successful the space, including from “private equity-backed roll-ups,” but cited Raymond James’ semipermanent stableness versus PE-backed firms and its ongoing concern successful exertion and caller initiatives. 

This week, the steadfast announced a caller proprietary artificial quality cause for advisors, called Rai.

Raymond James has besides boosted its recruitment and advisor retention walk successful caller quarters. For the archetypal time—and arsenic forecast by Shoukry successful its Q4 earnings—the steadfast broke retired recruiting- and retention-related compensation, reporting a 22% quarter-over-quarter summation to $107 million. In the fiscal 4th quarter, the steadfast boosted its spending 9% to $98 cardinal compared to the twelvemonth prior.

“These costs person accrued arsenic a nonstop effect of our beardown recruiting successes and bespeak a constituent of the execution of our highest superior deployment precedence of investing successful integrated growth,” Chief Financial Officer Butch Oorlog said connected the call.

Oorlog said the steadfast had an mean compensation ratio for advisors of 65.4% successful the fiscal archetypal quarter, excluding acquisition-related expenses. The firm’s full compensation disbursal was $2.45 billion.