Raymond James has launched a new administrative support platform for financial advisors in its Private Client Group.

Admin Extension, or AdminExt, offers advisors turnkey administrative support from registered branch associates in a bid to help streamline advisor practices, the company said during its Elevate National Conference on Monday.

Raymond James staff at AdminExt would offer independent branch owners services typically performed by branch associates, including establishing and maintaining client accounts, risk management support and assistance with business growth, according to the firm.

In addition, the associates can assist incoming advisors with moving their practices to Raymond James, the company says.

The associates operate remotely, which Raymond James says eliminates constraints associated with physical office locations.

AdminExt, which is part of Raymond James’ independent office services, is available starting with a minimum three-month coverage option, with no limitation on renewals, according to the firm.

In the future, Raymond James plans to open up the service to other affiliate options within the Private Client Group, Scott Curtis, president of the group, said in the announcement.

“Advisors are empowered by AdminExt to fill a leave of absence, complete specific projects and seamlessly supplement staff in a tight labor market or during a significant growth opportunity,” Curtis said in the announcement. “In addition to freeing advisor time and solving staffing challenges, the extensive knowledge and dedicated focus of the branch professionals differentiates them as consultants capable of improving practice efficiencies.”

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