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Sole trader Reid links up with Raymond James

One of the best-known directly regulated sole traders Robert Reid is moving his fee-based practice Syndaxi Financial under the Raymond James banner after nearly two decades operating on his own.

The shift is part of Reid&#39s expansion plans for his firm over the next 12 months, which will include bringing more registered individuals on board.

Reid, a former Sofa chairman and an outspoken industry commentator, will now operate as an appointed rep, a move that will be watched clo-sely by directors of other small IFAs.

Reid&#39s move follows a long relationship with Raymond James and comes on the back of James&#39 relaunch of its online self-invested personal pension product with desktop delivery.

He will act as an investment adviser, assisting Raymond James on technical and financial planning issues, and will handle any complex pension transfer and inheritance tax cases which RJI advisers encounter.

Raymond James Investment services is the investment management arm for Raymond James Financial, which is one of the 10 biggest financial services companies in the US.

Reid says: “Moving to Raymond James greatly increases the services that I can offer to my clients and allows me to expand my business in a positive manner.”

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