September 11, 2020

Raymond James launches new coaching pilot program for advisors within the firm's Black Financial Advisors Network

ST. PETERSBURG, Fla. – Adding to Raymond James’ robust offerings of coaching initiatives, the firm’s practice management group recently introduced a new coaching resource for financial advisors and branch professionals affiliated with the firm’s Black Financial Advisors Network (BFAN), according to Liz Stiles, director of Private Client Group (PCG) practice management coaching at Raymond James.

“It’s important to us to continually enhance our support for our Advisor Inclusion Networks and build new programming to help them navigate challenging times and continue to grow their businesses,” said Renée Baker, head of PCG Advisor Inclusion Networks at Raymond James. “Building on our continued support for our Black Financial Advisors Network and the firm’s pledge to the Black community, we are thrilled to bring this resource to our BFAN advisors and support teams.” 

The pilot program, developed in partnership with Practice Management Consultants, LLC (PMC-LLC), the firm’s Advisor Inclusion Networks and PCG Education and Practice Management group, is a personalized coaching program in which participants will receive individualized plans and one-on-one coaching calls. PMC-LLC has excelled in coaching financial advisors and those in specialized financial services roles, with experienced, culturally diverse consultants who average 20 years of industry experience each.

“In line with everything we do at Raymond James, particularly with our practice education and management resources, this new program and curriculum was specifically developed in collaboration with advisors within our Black Financial Advisors Network,” said Stiles. “We are thrilled to begin this pilot and are excited to partner with Practice Management Consultants, LLC, to bring diverse consultants to help coach our advisors on practice management topics, leadership and soft-skill training. We look forward to advisor feedback and continuing to develop this program.”

The curriculum will focus on five key areas:
Enhancing your value proposition: Identifying your ideal client and developing and clearly communicating your unique value proposition
Business development planning: Organizing and developing a robust marketing plan and sales approach for prospective clients and centers of influence
Creating advocates through deeper engagement with clients: Building and executing a client engagement/contact plan that aligns with respecting client segments and tiers
Refining your core client-facing functions: Developing and implementing your core service offering, including client discovery, client reviews, financial planning process, risk management and investment management processes
Organizing and streamlining your business: Analyzing your business and organizing practice operations and processes

“Having the opportunity to join the firm’s BFAN coaching program will be very beneficial for me as I’m looking to explore new opportunities to help my business grow,” said Morgan Summers, AAMS®, a financial advisor in Raymond James’ Advisor Mastery Program, the firm’s new advisor training program. “The program is specialized, which will allow each coach to take their time to understand my vision for my practice and what my goals are, helping me to build a business model that fits my passion and skills. I’m looking to gain insight from the coaches’ different perspectives and backgrounds, so I can better understand my strengths and the opportunities that exist for me as an African American advisor. That support will enable me to be even more successful in this industry.”

The Advisor Inclusion Networks support advisors and the communities they proudly represent, providing resources, strategies and a forum for sharing ideas designed to enhance their businesses. The Black Financial Advisors Network supports the recruitment and retention of the best and brightest Black professionals in the financial services industry. Guided by a spirit of excellence and a client-first approach, the network has been committed to contributing to the long-term success of Black advisors and Raymond James since 2013.

Raymond James’ PCG Education and Practice Management department, which includes the Advisor Inclusion Networks, focuses on providing advisors with award-winning, best-in-class tools and resources to help them manage and elevate their practices. The team provides a spectrum of scalable coaching services – from a practice assessment to help advisors analyze their practice to personalized coaching through the team’s EPIC program. 

About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF), is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,200 financial advisors. Total client assets are $908 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at Raymond James & Associates, Inc., member New York Stock Exchange/SIPC.