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Stock impact report

Raymond James Sees Cross-Selling Ban as a Plus in Attracting Advisors [Yahoo! Finance]

Raymond James Financial, Inc. (RJF) 
Last raymond james financial, inc. earnings: 4/29 04:35 pm Check Earnings Report
US:NYSE Investor Relations: raymondjames.com/investor-relations
Company Research Source: Yahoo! Finance
Raymond James' aversion to cross-selling is a boon in the firm's recruiting efforts to woo advisors, according to the head of the firm's private client group. In a discussion at  Wealth Management's  New York offices, Raymond James Private Client Group President Tash Elwyn echoed Chief Executive Officer Paul Shoukry's distaste for mandated cross-selling, as he expressed this week. During the firm's institutional investor conference in Orlando, Fla., Shoukry said the firm has “zero cross-selling requirements,” arguing that while that “sounds like common sense, that's actually pretty unique in the wealth management space.” According to Elwyn, Raymond James has been told by recruiting prospects that advisors in their previous businesses were urged to focus ‘on delivering the whole firm.' “And when they hear statements like delivering the whole firm, they know it's about cross-selling. They know it's about driving profitability for those firms,” Elwyn said. “And what really frust Show less Read more
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