Raymond James announced Thursday that it has entered into an agreement to buy Clark Capital Management Group.
According to Paul Shoukry, Raymond James’ CEO, Clark Capital’s mission of offering holistic investment solutions and being a trusted partner to financial advisors “completely aligns” with Raymond James’ ethos and commitment to clients.
The Philadelphia-based asset manager was founded in 1986 by Harry Clark and specializes in wealth-management focused investment solutions. It has over $46 billion in discretionary and non-discretionary assets under management.
Among its suite of services, the firm provides custom multi-asset-class solutions, proprietary model portfolios and ‘40-Act mutual funds built for financial advisors and their clients. These investment strategies are supported by a dedicated high-net-worth service team.
After the deal closes, expected by the third calendar quarter of 2026 and subject to customary conditions and regulatory approvals, Clark Capital will maintain its brand and become an independent boutique investment manager within Raymond James Investment Management.
Clark Capital will likewise retain its existing leadership team, investment capabilities and service model, while leveraging Raymond James Investment Management’s scale, resources and distribution capabilities.
Scott Curtis, chief operating officer of Raymond James, said in a statement that Clark Capital’s services and capabilities will complement and strengthen Raymond James Investment Management’s existing investment and wealth planning offerings.
“Within our multi-boutique structure, Clark Capital is well positioned for accelerated growth, and Raymond James Investment Management will better serve the evolving needs of financial advisors and their clients,” Curtis said.
Brendan Clark, CEO of Clark Capital, said the deal marks an exciting new chapter for Clark Capital.
“Raymond James Investment Management’s culture, strategic vision, and client-first, advisor-centric approach align closely with our own,” Clark said. “Their resources and support will enable us to further enhance the advisor and client experience while preserving our brand, values, service model and mission that have defined Clark Capital since day one.”
The news comes more than a decade after AssetMark acquired the turnkey asset management program (TAMP) assets of Clark Capital, a move that added some 670 advisors to the AssetMark platform.
As of Nov. 30, Raymond James had nearly $1.8 trillion in assets under administration across business units. The Private Client Group, which includes about 8,900 financial advisors, works with $1.7 trillion.
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