After a recruiting slump this summer, Raymond James' Private Client Group division reached 8,482 brokers at the end of September, a net gain of 3 percent, or 243 year over year, and an increase of 1 percent, or 69 brokers, sequentially.

According to Chief Executive Paul Reilly, the biggest percentage increase in headcount showed among advisors recruited for the company's independent channel. Reilly also stated that expenses would continue to rise as Raymond James reinstates advisor events and conferences, which are highly valued by advisors.  

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