Raymond James Expands Wealth Management with Michael Zalkind Appointment

Key Facts

In a move reflecting the ongoing expansion in the South Florida wealth management market, Raymond James has appointed Michael Zalkind as Managing Director in Aventura. According to reports, Zalkind, the founder of Zalkind Wealth Management, will transition his practice to the expanded platform of Raymond James. This move is intended to bolster the firm's resources in serving families and businesses in the region, leveraging Zalkind's nearly 30 years of experience.

This addition comes at a time when major asset management firms are fiercely competing to attract advisors with strong portfolios, as Zalkind previously managed approximately $300 million in client assets. This move positions Raymond James competitively against peers such as Stifel Financial and LPL Financial, who have recently announced similar expansions in Florida per market data. Analysts note that attracting independent advisors directly contributes to the growth of Assets Under Management (AUM) for large-cap firms.