RayJay Unveils Paraplanning Services for FAs
Raymond James announced the launch of a new suite of on-demand paraplanning services, which the company has been piloting with its advisors.
The program is available to advisors under Raymond James Financial Services’ independent contractor model and intends to assist them in incorporating financial planning into their practices.
Advisors can use paraplanning in two ways: hourly services, which allow advisors to move or input their clients’ financial plans into the company’s Goal Planning & Monitoring software, and comprehensive services, which allow advisors to hire a paraplanner, all of whom are based at Raymond James’ home office in St. Petersburg, FL, to either build a new GPM plan or analyze an existing plan, according to the company.
“For advisors who already have planning ingrained in their practice, they can leverage comprehensive services to deepen their relationships with existing clients or to garner new business by showcasing the capability,” said Lindsay Noah, director of Paraplanning.
As of December 30, 2023, Raymond James employs over 8,700 financial professionals and manages $1.3 trillion in customer assets.