Raymond James launches software for advisers to build custom portfolios

Raymond James Financial Inc. is launching a new tool to make it easier for advisers to build custom portfolios on its platform.
The new service, called the Portfolio Management Center (PMC) and administered by FolioDynamix, will allow advisers to build custom portfolios on the Raymond James platform, in addition to using the company’s proprietary model portfolios. The new service incorporates the firm’s proprietary product research and rebalancing tools for use with discretionary portfolios for the first time. Advisers will also be able to generate custom asset allocation proposals for clients through the new service.
“Just about every adviser takes a different approach from the adviser down the hall,” said Josh Bohlander, vice president of business technology at Raymond James. “If they want to use the firm’s models, they can. If they want to use their own models, they can do that too.”
The model the PMC is replacing was intended for institutional managers, Mr. Bohlander said. The new model is the result of adviser input.
The rollout is occurring in phases, with all Raymond James advisers scheduled to have access to the platform by the end of the year.