Kirk Bell, now director of the Raymond James Financial Services Independent Contractor Division, will become the group's president on April 1, the parent company announced Wednesday. Bell succeeds Shannon Reid, who resigned in December to become president of Osaic after being with Raymond James since mid-2007.
On an earnings call in September, CEO Paul Shoukry said the firm had 8,943 financial advisors across its independent and employee channels. Before 2025 — when the firm stopped reporting details about its headcount on a quarterly basis — more than 5,000 of the firm's advisors affiliated with it via the independent W-2 model.
"Over his nearly 26 years with the firm, Kirk has embodied Raymond James' culture and values and consistently led from a people-first approach," according to Private Client Group President Tash Elwyn. "He has spent decades helping advisors achieve their goals ... and I'm confident that under his leadership the business will continue to excel."
RJFS Interim President and Division Director David Sisemore will take over Bell's divisional leadership role through Sept. 30 and then will serve in a consulting capacity until retiring from the industry in December.
"Supporting and providing guidance to independent advisors has long been a passion of mine, and I'm honored to be selected as president of ICD," Bell said in a statement. "I look forward to drawing on decades of experience and best practices as I ... work with [Independent Contractor Division] associates to build on our momentum and continue to be the destination of choice for financial advisors."
Raymond James' Private Client Group had $1.71 trillion of assets under advisement as of Dec. 31, up 15% from a year earlier. Net new assets in the last three months of 2025 were $30.88 billion, up 120% from the year-ago period.
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