Raymond James says it is started a new 20-week coaching program that aims to help advisors boost their ability to find, attract and serve “more affluent and higher net worth clients.”
“Industry studies reinforce clients’ growing need for services beyond just investment management, particularly among [these client segments], and the desire to work with one trusted advisor on all aspects of their wealth,” according to Liz Stiles, director of practice management coaching at Raymond James.
“This provides an opportunity for advisors to really enhance their offering and value proposition,” Stiles explained.
In particular, veteran advisors who’ve been more focused on investments, or those new to the business, will be taught “actionable strategies to engage more deeply with clients and integrate wealth planning resources and expertise from Raymond James into their practices.” she added.
What Your Peers Are Reading
The program, started in September, is being offered in partnership with the Investment & Wealth Institute (formerly IMCA) and includes experts on Raymond James’ wealth planning, alternative investments, RJ Trust, and longevity planning teams.
Advisors who participate in it complete 14.5 hours of coaching, most of which is done with a group. At the end, program participants receive a Private Wealth Essentials (PWE) designation and Continuing Education credits.
The announcement comes only about two months after Raymond James introduced an enhanced client experience coaching program for affiliated advisors and support teams to help them comply with Regulation Best Interest and embrace other best practices as they worked remotely during the pandemic.