Longtime RJFS CEO to leave

DEC 04, 2011
The old guard of Raymond James Financial Inc. will see another change with the departure of Dick Averitt, longtime chief executive of RJ's independent broker-dealer arm. Mr. Averitt, 66, has headed Raymond James Financial Services Inc. since 2002. A former registered representative and financial planner who joined the firm in 1978, Mr. Averitt will be replaced next year by Scott Curtis. Mr. Curtis, 49, whose title will be president, is a protégé of Dennis Zank, chief executive of the employee broker-dealer, Raymond James & Associates Inc., who is also seeing a change in his role in the firm. Next year, Mr. Zank is handing the reins to Tash Elwyn, 40, who will become president. Mr. Zank, 57, will become chief operating officer of the holding company, replacing longtime executive Chet Helck, 59, in that role. Reporting to Raymond James Financial chief executive Paul Reilly, Mr. Zank “will leverage his impressive industry and institutional experiences to drive organizational effectiveness across our businesses,” according to a company memorandum. “As we continue to seek efficiencies and opportunities for improved results, Dennis will provide initiative leadership and manage major cross-discipline projects.” Mr. Helck will continue to oversee Raymond James' varied private-client businesses, which comprise more than 5,400 brokers in the United States, Canada and elsewhere. Total client assets are close to $271 billion. Mr. Helck is scheduled to be chairman of the Securities Industry and Financial Markets Association in 2013. Mr. Averitt will leave sometime next year. Last year, Tom James retired as chief executive of Raymond James Financial Inc., the holding company for the various Raymond James brokerages, and was replaced by an outsider, Mr. Reilly. Mr. James remains chairman of the holding company. [email protected]

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.