From the October 2006 issue of Research Magazine • Subscribe!

RJFS Names New Executive; Plans Expansion in Recruiting Team

Some six months after deciding to replace its former top recruiter, Bill McGovern, Raymond James Financial Services says it has tapped a successor: William C. Van Law III, CFP. The new head of business development for the independent channel of the St. Petersburg, Fla.-based brokerage firm, which includes some 3,400 advisors, is set to lead a new, larger team of recruiters that will be based in different parts of the U.S.

"After an extensive search, we are pleased to have an accomplished business development professional -- and one who knows us as well as Bill does -- join us in this vital role," says RJFS Chairman and CEO Richard G. Averitt III.

"Our approach has always been national, but our recruiting operation has been solely based at our headquarters," explains Averitt. "Bill will organize a regional model with recruiters strategically located throughout the country -- a move that will require a substantial increase in RJFS' business-development staff. It goes without saying that we're looking for the best of our industry's professional recruiters to grow with this extraordinary effort."

For the past three years, Van Law was in charge of growth and development in the Middle States division of the traditional employee BD, Raymond James & Associates; the number of advisors in the region grew by nearly 80 percent, AUM expanded 160 percent and revenue doubled during this time, the company says. Before joining the firm, Van Law spent nearly two decades at Merrill Lynch as a top producer and manager.

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