Stifel’s IBD Chief Alex David Jumps to Raymond James

February 12, 2024 | by magnews24.com

Alex David, former president and CEO of Stifel Financial’s independent contractor broker/dealer, has joined Raymond James as Northeast division director within its independent advisor channel. He takes over for Shannon Reid, who was recently appointed to lead Raymond James independent contractor division.

David joined Stifel in 2021 to revitalize the firm’s sleepy independent broker/dealer, Century Securities, which was rebranded as Stifel Independent Advisors.

Prior to joining Stifel, David spent 13 years at Wells Fargo Advisors as head of branch development and marketing for the independent brokerage. Prior to that, he served as a wholesaler at Lord Abbett, Federated Investors and OppenheimerFunds.

In November, Raymond James announced Reid would take over for Jodi Perry as head of the firm’s independent contractor division. Perry moved into the newly created role of national head of advisor recruiting.  

Raymond James ended 2023 with 4,992 advisors in its independent channel, down about 1% from a year ago and sequentially.

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