Raymond James continues to grow its employee advisor channel as a multigenerational advisory team from Baird transitions to join the firm.
The firm’s latest addition extends the recruitment streak at Raymond James & Associates, in Fort Wayne, Indiana.
The team, practicing as Schmidt Wealth Advisors of Raymond James, includes veteran advisor Jacob Schmidt, along with his sons Daniel and Matthew Schmidt. They are joined by senior client service associate Jennifer Taylor and client service associate Kristina Stuller.
Jacob Schmidt, who serves as senior vice president of investments, highlighted the culture and independence offered by Raymond James as key reasons for the move.
“At Raymond James, we found a welcoming culture that offers a high level of independence,” the veteran with more than 43 years in the industry said in a statement. “This environment allows us to tailor our services to better meet our clients’ needs while maintaining our brand identity.”
Jacob began his career at Merrill Lynch in 1981 and spent the last 18 years at Baird. The team, which reportedly managed over $290 million at their former firm, focuses on providing financial services to business owners, families, pre-retirees, and retirees.
Daniel Schmidt, vice president of investments, emphasized the firm’s succession planning support as a critical factor, noting: “Raymond James’ novel approach to transitioning our practice to the next generation of family advisors was another significant factor in our decision.
Matthew Schmidt, associate vice president of investments, pointed out the advantages of the firm’s technology.
“The advanced tools and resources provided by the firm enable us to deliver a comprehensive and efficient service, helping to enhance the overall client experience,” he said.
Daniel and Matthew Schmidt bring 13 and nine years of financial services experience to the team, respectively.
The Schmidt team’s move to RJA builds on other recent additions, including a $150 million JPMorgan alum who joined in Texas and a $140 million advisor from Wells Fargo in Ohio.
Last week, Raymond James also revealed plans to shuffle its RJA leadership as part of a broader reorganization being choreographed by the firm as its longtime CEO Paul Reilly, is set to depart next year.
ASA reacts as regulator drops no-deny policy, freeing firms and individuals to publicly dispute allegations after reaching settlements.
Joel Frank allegedly sold more than $39 million worth of investments in the Equilus Funds to more than 90 investors,
The Charity Parity Act would eliminate a costly IRA rollover requirement that blocks direct charitable transfers from workplace retirement plans.
A last-minute court filing ends a case against the federal tax-collecting agency that had drawn unprecedented conflict-of-interest questions from Democratic critics.
Advisors discuss their use of AI now and how it will change going forward
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
