Bob Kendall joined Raymond James Investment Management as CEO in May 2021 after former CEO Cooper Abbett left. Since then, Kendall has prioritized leveraging parent company Raymond James Financial's RJF resources. Kendall has scored some quick wins by reinvigorating some of the firm’s distribution and sales efforts in the wake of rebranding the firm. While it's still early in Kendall's tenure, there are signs that his efforts are bearing
fruit; the firm has increased its assets under management with Raymond James' advisors. However, the firm’s mutual fund AUM has steadily declined from $20.7 billion at the end of 2021 to $16.3 billion at the end of 2023.
Kendall has further ideas. Like many competitors, he is considering new vehicles, such as ETFs; and more niche areas like custom separate accounts, alternatives, and impact investing. However, nothing new has been launched as of April 2024.
Meanwhile, the firm's six boutiques, brought together through a series of acquisitions between late 2015 and 2022, offer investors an assortment of options across investment styles and asset classes. Overall, Raymond James Investment Management offers a compact lineup of funds that has some pockets of strength but with room for investment process and fee improvement across the board.