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Wednesday, November 12, 2014

ON THE MOVE-Raymond James adds 2-person investment firm managing $100 million assets, (NYSE: RJF)

Raymond James Investment Advisors Division, a branch of Raymond James Financial that serves registered independent advisors, said on Wednesday it added a two-person firm, Archvest Wealth Advisors, to its platform. Archvest was founded by investment advisers Eric Lai and John Wenzel, who together had managed $100 million in client assets at their Walnut Creek, California-based firm.Raymond James Investment Advisors Division provides custodial, technology, research and support services to registered investment advisory firms that join its platform.Around 112 firms have partnered with the Raymond James division, employing roughly 350 advisers, a Raymond James spokeswoman said.In addition to adding firms, the channel also recently announced it will begin offering 120 commission-free ETFs to its partner registered investment advisory firms and their clients sometime next month.

Raymond James Financial, Inc. (RJF) is a financial holding company. Shares of RJF fell by 0.77% or $-0.44/share to $57.05. In the past year, the shares have traded as low as $45.37 and as high as $57.58. On average, 688103 shares of RJF exchange hands on a given day and today's volume is recorded at 532604.