World Investment Advisors, RayJay Begin Custody Relationship

World Investment Advisors, a division of World Insurance Associates LLC, announced a new custodial relationship with Raymond James Financial Inc.

The partnership comes after World, formerly Pensionmark, acquired $3.5 billion Boston Harbor Wealth Advisors in July, which had been affiliated with Raymond James for almost 10 years.

The wealth and retirement advisory firm, headquartered in Santa Barbara, CA, is positioning the partnership as an additional incentive for independent financial advisors and wealth managers to become members of the firm.

Troy Hammond, CEO of World Investment Advisors, has been building its wealth division over the years. The firm currently supports more than $55.4 billion in assets across investment management and retirement plan consulting services, including$24.5 billion in regulatory assets under management, with $11.5 billion coming from wealth management.

“We are focused on enabling advisors to manage their businesses their way, optimize operations, and recapture time spent on tasks they can delegate to us, ultimately allowing them to spend more time growing assets and building personalized relationships with their clients,” said Hammond.

The partnership will broaden World’s network to Raymond James, as well as “multi-advisor teams and firms managing billions of dollars” and individual practices with $100 million in assets. In turn, World will have access to the “vast majority” of Raymond James investment offerings available to its independent contractor advisors and employee advisors.

World has employs over 350 advisors and staff across more than 65 U.S. locations. Raymond James has about 8,700 financial advisors in its network.