By Lisa Walls-Hester on Wednesday 1 February 2017
Florida-based Raymond James Financial is rolling out a new robo-adviser platform this year. While many wealth management firms are choosing to partner with or purchase robo-advisor platforms, Raymond James has developed its own technology.
Its digital advice platform will be called Connected Advisor. The firm's 7,100 advisers will be able to use the platform to automate investment management, communicate with clients and analyse client data.
Bella Allaire, head of technology and operations for Raymond James said: “Our new platform adds another layer of collaboration between the client and the advisor, along with more sophisticated data mining and opportunities for client alerts from the advisor.”
“The ease of use has to be there to bring value to the advisors and clients via sophisticated alerts and accurate, complete data. That is the excitement of the platform. It’s really about giving the advisors more ways to connect with clients, including communications … and analytics. It takes it all in.”
CEO Paul Reilly said: “This significant, multiyear ongoing investment ensures we continue to be an industry leader in advisor-oriented technology."
The firm claims to have over 7,100 reps and $585bn of assets under management.