ETFs & Mutual Funds
One of the Largest Broker Dealers Is Now Launching an ETF
- Asset management arm of company filed for four new funds
- Firm’s proximity to thousands of advisers may help it scale
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Raymond James Financial Inc. is poised to enter the $10.5 trillion ETF arena through its asset-manager division, armed with what may prove a competitive edge over the long haul: a vast network of financial advisers who are able to sell the firm’s funds.
Raymond James Investment Management is planning to launch four ETFs, including a dividend fund and income-focused options-based strategy, according to a US Securities and Exchange Commission filing dated Jan. 14. The filing comes six months after Raymond James hired Mo Sparks, who was formerly New York Stock Exchange’s director of exchange traded products, to lead its ETF platform.