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Financial firm Raymond James stops reporting quarterly broker headcount, following footsteps of large firms
Other - FEBRUARY 3, 2025

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Financial firm Raymond James stops reporting quarterly broker headcount, following footsteps of large firms

by Elise Mackanych

St. Petersburg, Fla.–based financial service company Raymond James has stopped reporting its broker headcount in quarterly earnings reports. This is a trending move that is also followed by Merrill Lynch, Morgan Stanley and Wells Fargo, reports Advisor Hub.

Firms believe this practice has lost its relevance in determining the success of a firm. Instead, offices are looking to measure metrics such as client assets and domestic partial credit guarantee (PCG) net new assets to determine the health and growth of the company, said a spokesperson for the firm.

Last quarter, Raymond James reported having around 8,000 brokers. Now, they will report their adviser headcount annually. Its decision to change this practice is the first among regional and independent firms, according to Advisor Hub. Its year-over-year headcount increased by 1 percent as of Sept. 30, and its employee adviser count rose by 4 percent to 3,826.

Raymond James’ Private Client Grou

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