The arrangement involves the Canadian business making an investment to boost digital transformation.

Raymond James Ltd, the Canadian part of US-listed Raymond James group, is partnering with FNZ, the London-headquartered wealth management platform provider. 

The pact involves Raymond James Ltd making a “significant investment” to accelerate the digital transformation of its wealth management infrastructure, it said in a statement yesterday.

“This isn’t just a technology upgrade – it’s a quantum leap in the support we provide our advisors in their delivery of exceptional client service. We’re listening, investing, and acting to deliver smarter, more connected experiences for our partners and clients,” Jamie Coulter CEO, Raymond James Ltd, said.

FNZ partners, which has more than 650 financial institutions globally on behalf of 26 million end investors and administers, has more than $1.7 trillion in assets. FNZ’s "market-leading" technology and infrastructure will significantly enhance Raymond James Ltd’s offering to advisors with greater flexibility to adapt quickly to changing markets, regulatory requirements, and investor expectations.

In early April, FNZ secured $500 million in new equity funding. That was separate from the $2.1 billion refinancing of November last year and the August 2024 equity raise of $1 billion.