Raymond James is installing a longtime executive to run its independent contractor division while also adding a five-advisor Illinois team overseeing $385 million in client assets, underscoring continued momentum in the firm’s independent channel.
Kirk Bell, currently division director of the Raymond James Financial Services Independent Contractor Division, will become president of the business effective April 1. and will join both the company’s senior leadership team and the executive leadership group within the Private Client Group as he works to deepen advisor relationships and support growth initiatives.
“Over his nearly 26 years with the firm, Kirk has embodied Raymond James’ culture and values and consistently led from a people-first approach,” said Private Client Group President Tash Elwyn. “He has spent decades helping advisors achieve their goals with a deep understanding of the unique challenges and opportunities that define the independent advisor experience, and I’m confident that under his leadership the business will continue to excel.”
Bell replaces Shannon Reid, who left the firm in December after almost 20 years to join Osaic as president, head of advisor growth and engagement.
“Supporting and providing guidance to independent advisors has long been a passion of mine, and I’m honored to be selected as president of ICD,” Bell said. “I look forward to drawing on decades of experience and best practices as I meet advisors and their staff across the country, partner with the firm’s strong leadership teams and work with ICD associates to build on our momentum and continue to be the destination of choice for financial advisors.”
David Sisemore, who has been serving as interim president of Raymond James Financial Services, will return to his divisional leadership position through the end of the fiscal year before moving into a consulting role ahead of his planned retirement in December.
The leadership announcement comes alongside a recruiting win for RJFS.
A team of five advisors — J. Steven Bush, Shane Swift, James Schmertmann, Brett Johnson and Eric VanWinkle — have joined the firm’s independent advisor channel from LPL Financial.
The group, operating as SBS Financial in Moline, Illinois, previously managed $385 million in client assets and provides services including financial planning, investment management and retirement guidance. They are joined by client services manager Sarah Johanson, client services assistant Clarissa Conduff and client services associate Cameron Drury.
“Raymond James’ people-first culture keeps the advisor-client relationship at the center of every decision,” said Swift. “The firm’s modern technology platforms, private wealth capabilities for high-net-worth clients and responsive home office support give our team the resources to deliver coordinated advice while operating with the independence we value.”
The moves reflect Raymond James’ ongoing efforts to strengthen leadership continuity and attract experienced advisor teams as competition for talent across the independent wealth management channel remains intense.
DeVoe data shows third-quarter RIA deals fell 19% as private equity-backed buyers increasingly target firms with $1 billion-plus in assets, says dealmaker Corey Kupfer.
Adhesion waives platform and tax management fees for capabilities as asset managers add alternatives and tax overlays to model offerings.
The Vanguard-bound RIA custodian is now letting advisors subscribe clients to late-stage private company SPVs from inside its platform.
The AI-native RIA is pitching 90-second client onboarding to independent firms weeks after landing $100 million Series C.
Founder Rick Kent moves to executive chairman, and Zach Mersberger has been named president of the $33 billion hybrid-RIA.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
