Raymond James' wealth management division, officially named the Private Client Group, set records for net revenue and assets under administration and a near-record for net new assets. Raymond James recruiting from Commonwealth, other firmsThat was achieved against a backdrop of increased expenditures to recruit advisors from industry rivals and prevent in-house advisors from going elsewhere. Raymond James has ceased providing quarterly updates on its advisor headcount but reported in October that the tally had reached a record at 8,943. That figure more than doubled the total for the same period a year ago and was the second highest ever recorded by Raymond James, Shoukry said. Raymond James said the increase was "mainly due to market appreciation and net inflows into [Private Client Group] fee-based accounts."