Raymond James snaps up $46B Clark Capital in major wealth management expansion

Raymond James is set to broaden its asset management reach with an agreement to acquire Clark Capital Management Group, a Philadelphia-based investment firm known for advisor-centric wealth solutions and strong organic growth.

The transaction brings more than $46 billion in discretionary and non-discretionary assets under management into Raymond James Investment Management’s multi-boutique platform.

Founded in 1986 by Harry Clark, Clark Capital has built its business around customized multi-asset strategies, proprietary model portfolios and 40-Act mutual funds distributed primarily through financial advisors. The firm also operates a dedicated high-net-worth service team that provides personalized wealth planning and serves as an extension of advisors’ practices. These are capabilities Raymond James plans to integrate into its broader investment and planning lineup.

Once completed, Clark Capital will retain its brand identity, leadership team, investment processes and service model, operating as an independent boutique within Raymond James Investment Management.

Scott Curtis, chief operating officer of Raymond James, said the transaction reinforces the firm’s long-term asset-management strategy.

 “The acquisition underscores our commitment to building a leading global asset manager that provides a broad range of innovative investment solutions,” he said. “Within our multi-boutique structure, Clark Capital is well positioned for accelerated growth, and Raymond James Investment Management will better serve the evolving needs of financial advisors and their clients.”

Raymond James CEO Paul Shoukry framed the deal as both a cultural and strategic match, particularly in channels serving independent advisors and turnkey asset management platforms.

“This new partnership with Clark Capital will bring together two culturally aligned organizations committed to delivering exceptional service and partnership to financial advisors and will further position Raymond James Investment Management as a leading player in key advisor-focused channels, including independent firms and turnkey asset management platform segments,” he said.

The combination signals deeper access to model portfolios, customized multi-asset allocation, and high-touch planning support within Raymond James’ existing investment ecosystem, which includes Chartwell Investment Partners, ClariVest Asset Management, Cougar Global Investments, Eagle Asset Management, Reams Asset Management and Scout Investments.

Clark Capital leadership emphasized continuity for advisors and clients following the transaction.

Founder Harry Clark reflected on the firm’s origins and future under the new partnership.

“I founded Clark Capital with a singular focus on putting the client first. Over the years, the firm has grown steadily and purposefully, always keeping both clients and advisors at the center of everything we do. I’m incredibly proud of our team for remaining true to that guiding principle, and I’m excited to have found a partner who shares our unwavering commitment to the client,” he said.

Financial terms of the deal were not disclosed. The acquisition is expected to close in the third calendar quarter of 2026, pending regulatory approvals and customary closing conditions.