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Raymond James names new recruiting chief

By Bruce Kelly

September 12, 2006 6:01 am ET

Raymond James Financial Services Inc. of St. Petersburg has settled at last on a new head of recruiting, reaching out to its sister firm, employee broker-dealer Raymond James & Associates Inc., to make its pick.

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The number two independent contractor broker-dealer in terms of gross revenue tapped Bill Van Law, a division director for Raymond James & Associates, to lead its recruiting efforts.

The move signals a shift in recruiting at Raymond James.

"Our approach has always been national, but our recruiting operation has been solely based at our headquarters," said Dick Averitt, CEO of Raymond James Financial Services, in a statement.

"Bill will organize a regional model with recruiters strategically located throughout the country - a move that will require a substantial increase" in the firm's staff, he said.

Mr. Van Law's title is senior vice president and national director of business development at the firm.

He also was appointed to the firm's board of directors.

At Raymond James & Associates, Mr. Van Van Law was responsible for its "mid states" division.

In the last three years, the number of brokers and advisers increased by 79% and assets under management grew 160%, according to the firm.

Raymond James Financial Services had been without a head of recruiting since January, when, looking to improve results, it pushed aside William D. McGovern, a Raymond James veteran.

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