Raymond James has expanded its private wealth toolkit with the launch of Private Wealth Guided Portfolios, a new model portfolio framework that pairs conventional equity and fixed income holdings with a dedicated alternatives sleeve. The offering, announced this week, is designed to give advisors a structured, research-driven pathway to incorporate private markets and hedged strategies into client portfolios, a segment where demand has been outpacing scalable solutions.
The models are constructed by the firm's Asset Management Services division, working in tandem with its Private Markets and Alternatives team, which oversees due diligence and ongoing monitoring. The framework is intended to support, not replace, the advisor, preserving their role as the primary client contact while providing research and consultation backup.
“At Raymond James, we're committed to being a destination for private wealth advisors and the clients they serve,” said Tash Elwyn, president of the Private Client Group. “Individuals and families with significant wealth require truly personal advice, backed by the right resources, to navigate their financial opportunities and complexities. Private Wealth Guided Portfolios are a meaningful addition to those resources.”
The launch comes amid a surge in advisor interest in private markets. A 2026 survey by Hamilton Lane, a global private markets firm, found that approximately 86% of 390 private wealth professionals worldwide planned to increase allocations to private market investments this year. Separately, a 2026 FTSE Russell Wealth Pulse survey of 600 U.S.-based investors with at least $500,000 in investable assets revealed that 77% invest in private markets through a financial advisor, underscoring the pivotal role advisors play in channeling this demand.
Ken Novak, head of Private Markets Strategy and co-head of the firm's Alternatives Group, noted that the new offering addresses a structural gap in how most advisors have been able to serve clients seeking exposure beyond public markets. “Access to private markets can provide clients with broader diversification and exposure to corners of the market that are not available through public markets alone,” he said.
The product is part of a broader multi-year buildout of Raymond James' private wealth infrastructure, which includes estate and charitable planning, lending and cash management, risk management, and intergenerational wealth strategies. Underpinning this is the Raymond James Private Wealth Advisor designation program, launched in September 2022, which provides training, coaching, and a peer network for advisors specializing in high-net-worth clients—generally those with at least $5 million in investable assets. As of September 2026, nearly 450 advisors have earned the designation, a key recruitment and retention signal as the firm competes for top talent.
These efforts intersect with Raymond James' broader investment in managed portfolios. In January 2026, the firm agreed to acquire Clark Capital Management Group, a Philadelphia-based asset manager with more than $46 billion under management, known for advisor-centric model portfolios and a dedicated high-net-worth service team. The transaction closed in May 2026, adding Clark Capital as an independent boutique within Raymond James Investment Management's multi-boutique structure.
Executives have been telegraphing this push throughout the year. At the firm's annual conference in Las Vegas in May 2026, CEO Paul Shoukry and Elwyn both emphasized that the advisor, not the home office, is the client, framing every platform enhancement as a function of that philosophy. Shoukry has also highlighted the firm's strategy of individualized recruitment rather than large-scale acquisitions, evaluating each prospective advisor on a one-on-one basis.
The firm has also launched a suite of proprietary active exchange-traded funds in October 2025 and is piloting an AI-powered advisor assistant called Raimond, trained on approximately one million recorded calls between advisors and the firm's service center. These moves, combined with the new model portfolios, signal Raymond James' intent to solidify its position in the high-net-worth advisory market, a space where competitors like Northwestern Mutual's family office unit and Americana Partners' family office group are also vying for share.
