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Raymond James' burgeoning employee channel taps outsider as COO

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Raymond James' employee channel has pulled in a number of wirehouse advisers to fill out its growing ranks. Now, the regional firm has again looked to wirehouse talent to fill a vacant executive position.

The firm announced today that it tapped Kim Jenson, a UBS complex manager, to serve as chief operating officer of Raymond James & Associates.

Jenson is on a garden leave from UBS and won't officially start her role until July 17, which overlaps with Raymond James' summer development conference for advisers.

"It'll be a fantastic first week with Kim because she'll have an opportunity to get to know many of our best advisers, their spouses and children," Raymond James & Associates President Tash Elwyn tells On Wall Street.

The position became vacant in December when Tom Walrond shifted from COO to director of the Eastern Division, following the retirement of Ira Federer, a former director. Elwyn says the company looked both internally and externally for a replacement.

The advisers oversaw nearly $900 million in combined AUM, and moved to Morgan Stanley, Raymond James and HighTower.
April 5

Jenson will relocate from Chicago, where oversaw UBS advisers, to Raymond James' headquarters in St. Petersburg, Florida.

She had been with UBS since 2006, according to FINRA BrokerCheck records. She's held various management positions at UBS and also served as chief of staff for the CEO of the wirehouse. Jenson previously worked at Piper Jaffray, where she worked as a regional director, according to Raymond James.

Now, she will help Raymond James strive to keep up its recruiting momentum. The firm recently reported that its employee brokerage force topped 3,000 advisers, up from 2,787 for the year-ago period.

In explaining what her responsibilities will consist of, Elwyn highlighted the need to maintain the high level of service that firm's financial planners have come to expect. "In one concise sentence: Her job will be to continue to make sure we continue to deliver outstanding support to our advisers as they serve their clients," says Elwyn.

A UBS spokeswoman was unavailable for immediate comment.

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