Florida-based broker-dealers flee Irma, setting up operations out-of-state

September 11, 2017 by Bruce Kelly

As Hurricane Irma lashed the sunshine state from its tip to its top over the weekend, business continuity plans for independent broker-dealers based in Florida kicked in, keeping the firms open for business for thousands of financial advisers.

Prior to the hurricane, Raymond James Financial Inc., with more than 7,000 financial advisers across business lines, had shifted critical business operations from its St. Petersburg campus to facilities in Memphis, Detroit and Denver in anticipation of the storm. At noon on Monday, the company said in a statement that it expected to re-open its Florida headquarters by Wednesday.

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Originally Posted at InvestmentNews on September 11, 2017 by Bruce Kelly.