RJF starts new training program

ST. PETERSBURG -- Raymond James Financial Inc. (symbol: RJF) is launching a new two-year training program to develop new financial advisers.

The company says its new Advisor Mastery Program will help the firm identify replacement candidates as current advisors retire; allow Raymond James to bring in more female financial advisers; and increase the likelihood that new hires remain with the firm, “from roughly 20% historically to more than 40%,” a release says.

Raymond James hopes the program is eventually able to train 150 new advisers annually. Its inaugural class will include 35 participants, including 12 women, participating from branches across the country. A second class of trainees -- roughly 30 or 40 new participants, the company says -- will begin participating in May 2012.

“AMP participants are typically college graduates, many having also earned a postgraduate degree, with at least five years' work experience,” the firm's release says. Passage of the Series 7 financial exam is also required.

Headquartered on Carillon Parkway in St. Petersburg, Raymond James Financial's 5,400 financial advisers manage $32 billion in client assets.