und info aggregator AdvisorCentral
is getting a rush of advisors after inking an agreement with Raymond James Financial
. The Florida-based broker-dealer is mass enrolling its advisors with the service, according to Bill Gross
, vice president of Operations at Raymond James & Associates.
Word of the win comes a day after Amvescap said it was dropping AdvisorCentral as its aggregator for intermediaries for its Aim fund complex. The firm said that it is using DST's Vision product instead. AdvisorCentral is jointly owned by DST competitor PFPC and a number of fund firms, including Fidelity, Putnam and Franklin Templeton.
Gross said that the broker-dealer is enrolling advisors with the Web-based service in order to improve "client service and sales opportunities." He noted that advisors can avoid contacting multiple fund firms by using the information on AdvisorCentral.
Raymond James had already enrolled roughly 100 of its back-office personnel with the AdvisorCentral portal. The broker-dealer has a network of about 5,000 intermediaries.
"Our staff is benefiting from and enjoys working with the AdvisorCentral portal," said Gross. "The flow of information on the site is very logical. We believe that AdvisorCentral will also become an essential
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