Raymond James’ succession planning and acquisitions group has partnered with Live Oak Bank and Key Management Group in the US to provide preferred financing and valuation services.

Raymond James’ succession planning and acquisitions group has partnered with Live Oak Bank and Key Management Group in the US to provide preferred financing and valuation services, respectively, to Raymond James Financial Services advisor practices.

According to Scott Curtis, president of RJFS, one of the most pressing issues facing the wealth management industry is the lack of "well-developed, documented" succession and retirement plans for its advisors.

Live Oak Bank is a Wilmington, North Carolina, lending institution founded in 2008 which provides loans to independent businesses. The arrangement with Raymond James provides for preferred rates, along with an underwriting team and an "expedited" loan application and approval process.

Key Management Group, meanwhile, is a full-service consulting firm working with financial advisors to provide practice management services including advisor coaching, succession planning and business valuations.

For RJFS advisors, KMG’s business valuation and cash flow analysis services will be offered at "substantial savings."

The financing and valuation services provided by Live Oak Bank and Key Management Group will be available to RJFS advisors as of 1 May.