Raymond James announced a definitive agreement to acquire Clark Capital Management Group, a Philadelphia‑based asset‑management firm founded in 1986, adding more than $46 billion in discretionary assets under management to its global investment platform.
Clark Capital will keep its brand and operate as an independent boutique within Raymond James Investment Management, allowing the firm to preserve its client‑centric culture while benefiting from the larger firm’s distribution network and support infrastructure.
The transaction is expected to close in the third quarter of 2026, subject to regulatory approval and customary closing conditions. The deal aligns with Raymond James’ strategy of expanding its fee‑based business, which has grown 9.5% in revenue to $14.02 billion in 2025 and delivered a net margin of 13.4%.
Management highlighted the strategic fit: “The acquisition underscores our commitment to building a leading global asset manager with diverse investment solutions,” said Scott Curtis, COO of Raymond James. Brendan Clark, CEO of Clark Capital, added that the partnership will accelerate growth and deepen client relationships.
By integrating Clark Capital’s multi‑asset‑class solutions and proprietary model portfolios, Raymond James aims to broaden its product offering to financial advisors and high‑net‑worth clients, strengthening its fee‑based revenue stream and positioning the firm for long‑term competitive advantage.
The deal also reflects broader industry consolidation trends, as wealth‑management firms seek scale to support aging advisor demographics and enhance service offerings. With the acquisition, Raymond James will be better positioned to capture growing demand for fee‑based advisory services.
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