Raymond James IBD Loses Compliance Chief

Donald Runkle had been with the independent broker-dealer since 1993

CCO Don Runkle has left RJFS. CCO Don Runkle has left RJFS.

More On Legal & Compliance

from The Advisor's Professional Library
  • Client Communication and Miscommunication RIA policies and procedures must specify what type of communications should be retained. The safest course of action is for RIAs to retain all communications—to clients, from clients, and about client accounts.  To comply with fiduciary obligations, communications must be thorough and not mislead.
  • The New and Improved Form ADV Whether an RIA is describing its investment strategy in advertisements or in the new Form ADV Part 2, it is important the firm articulates material risks faced by advisory clients and avoids language that might be construed as a guarantee.

Donald K. Runkle, who led the compliance operations of Raymond James’ independent channel for more than 10 years, has left the firm. Runkle’s last day at the firm was Friday, a spokesperson says.

“The firm’s policy is not to comment on associates no longer with the firm,” said Scott Curtis, president of Raymond James Financial Services, in a statement.

“Until a permanent RJFS chief compliance officer is identified, Alyssa Meyer and Jason Thackeray, both experienced directors of RJFS compliance, will act as co-CCOs. We’re grateful for Don’s contributions to the firm and wish him well in the future.”

Runkle worked for A.G. Edwards from March 1992 to May 1993, before joining Raymond James in August 1993, according to FINRA records.

As of March 30, RJFS has 3,288 advisors in the United States, while its employee channel has 2,438. Its independent advisors are set to meet in Washington, D.C., from May 19-22 at the group’s annual conference.

Last month, rival IBD LPL Financial (LPLA) said that Derek Bruton, formerly head of independent advisors services, resigned in connection with concerns over "interactions with other employees." The firm tapped Bill Morrissey as his replacement.

 

 

Reprints Discuss this story
This is where the comments go.

Related

Raymond James Nabs $80M Wells Team in California

Two advisors join the employee channel in Santa Barbara with some $950,000 in yearly fees and commissions.