New York-listed PNC Global Investment Servicing has won a contract from US-based Raymond James Financial, the wealth management and financial planning group, to carry out enterprise management and data processing.

The Raymond James network of 5,000 advisors will have access to PNC’s Albridge Wealth Reporting platform.

Under the terms of the agreement, Raymond James will also convert about 2.5 million mutual fund positions to Global Investment Servicing’s omnibus accounting platform, according to a statement by Raymond James.

Raymond James’ total client assets are currently $164 billion, of which approximately $25 billion are managed by the firm’s asset management subsidiaries.