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Raymond James says Jeff Dowdle, president of the firm’s Asset Management Group, is now its chief administrative officer. Also, Jodi Perry — who recently was tapped as president of the Independent Contractor Division — has been approved by the firm’s board to join its Executive Committee.

The news comes two months after St. Petersburg, Florida-based Raymond James named Scott Curtis as head of the Private Client Group, which includes employee and independent advisors.

(Related: 12 Best & Worst Broker-Dealers: Q2 Earnings, 2018)

“With decades of experience at Raymond James, Jeff and Jodi bring informed and diverse perspectives to their respective new roles, and I’m confident they’ll make significant incremental contributions to the firm’s steady growth,” CEO and Chairman Paul Reilly said in a statement.

Dowdle oversees the firm’s investment management subsidiaries and fee-based advisory programs. He has been with the firm for 27 years and earlier served as president of the Asset Management Services division and senior vice president of the employee channel, Raymond James & Associates, which is led by Tash Elwyn.

Before her recent promotion to president, Perry was national director of Raymond James Financial Services’ Independent Contractor Division, after working in different leadership roles in Asset Management Services, RJFS business development and regional management. She began her career with Raymond James in 1994.

In the quarter ended June 30, the Private Client Group grew by 115 advisors and ended the three months at 7,719 — a net increases of 434 over June 2017.

PCG assets under administration rose 14% year over year and 4% sequentially to  $719.5 billion. Fee-based assets stand at $343.1 billion and grew more aggressively: 24% over June 2017 and 6% over March 2018.

Plus, the unit boosted its revenue by 13% from last year to nearly $1.3 billion and pretax profits by 3% to about $132 million. Compared with last quarter, though, sales grew just 1%, while pretax income fell 16%.


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