Raymond James Appoints 26-Year Veteran Kirk Bell to Head Contractor Division
Raymond James appointed 26-year veteran Kirk Bell as president of its independent contractor division effective April 1, succeeding Shannon Reid and joining the firm’s senior leadership teams. The firm reported a 22% increase in recruitment compensation in Q1, drawing $13B in new assets and generating $96M in trailing 12-month production.
1. Internal Appointment
Raymond James appointed Kirk Bell, a 26-year company veteran, as president of its independent contractor division effective April 1. He succeeds Shannon Reid and joins both the senior leadership team and the private client group’s executive leadership team.
2. Leadership Transitions
Shannon Reid departed at the end of 2025 to lead advisor growth at Osaic, while interim president David Sisemore will continue in the role until his retirement in December. The firm also saw Northeast division director Alex David leave for Equity Services Inc., highlighting ongoing leadership churn.
3. Advisor Network and Assets
The private client division encompasses 8,943 independent and employee advisors overseeing $1.67 trillion in client assets. Raymond James is actively competing with broker/dealers, RIA platforms and custodians to attract and retain 1099 advisors.
4. Q1 Recruiting Momentum
In fiscal first quarter, Raymond James raised recruiting and retention compensation by 22%, drawing $13 billion in new assets and $96 million in trailing 12-month production. The firm has also added a Massachusetts-based team managing $682 million transferred from Commonwealth.