May 23, 2025 - 00:20
In a significant move to enhance its institutional offerings, Raymond James has successfully acquired a $2.7 billion institutional business from Trustmark. This acquisition marks a pivotal moment for the firm, allowing it to broaden its reach and capabilities in the financial services sector.
In addition to this substantial acquisition, Raymond James has also welcomed a new advisor from Morgan Stanley, further strengthening its team in Utah. This addition is expected to bolster the firm's client service and advisory capabilities in the region, positioning it for continued growth.
Meanwhile, LPL Financial has made headlines of its own by securing an $850 million advisory team from Cetera. This shift reflects the ongoing trend of consolidation within the financial advisory industry, as firms seek to enhance their service offerings and expand their market share. Both Raymond James and LPL are poised to leverage these strategic moves to better serve their clients and enhance their competitive edge in the evolving financial landscape.
