Shannon Reid, president of Raymond James Financial Services, the firm\u2019s independent contractor division, has left the company, according to an internal memo obtained by WealthManagement.com. Reid, whose last day was Monday, is pursuing an unspecified opportunity outside of Raymond James after nearly two decades with the firm.\u00a0<\/p>\n
David Sisemore, Midwest division director for the independent contractor division, will serve as interim president while the firm searches for a permanent replacement, according to a memo written by Tash Elwyn, president of Raymond James Private Client Group.\u00a0<\/p>\n
\u201cI can assure you that our strong, tenured ICD leadership team will provide continuity and steady, forward momentum during the transition,\u201d Elwyn wrote. \u201cWe\u2019re committed to preserving our exceptional advisor satisfaction results by providing you with the level of service you deserve and have come to expect from us.\u201d<\/p>\n
Reid was appointed president of the RJFS in November 2023, succeeding Jodi Perry, who became the firm\u2019s national head of advisor recruiting.\u00a0Prior to that, Reid served as senior vice president and director of the Northeast division.<\/p>\n
Reid did not immediately return a request for comment.\u00a0<\/p>\n
This latest move follows Friday\u2019s news that Alex David, Northeast division director at Raymond James\u2019 independent channel, will join Equity Services Inc.<\/a>, a Montpelier, Vt.-based IBD and RIA owned by National Life Group, as president and CEO.<\/p>\n