Raymond James Appoints David Solganik to Lead AI Strategy with $975 Million Tech Investment

Raymond James Names David Solganik as Head of AI Strategy

Raymond James (NYSE:RJF) has appointed David Solganik to lead its AI strategy, reflecting the firm’s strong investment in technology. With an annual technology budget of $975 million, the company is accelerating AI integration across its operations.

Solganik will drive the implementation of AI solutions while preserving the firm’s focus on personal client relationships. He brings over 30 years of experience with industry leaders such as Morgan Stanley, JPMorgan Chase, and MetLife.

This appointment comes alongside Stuart Feld’s promotion to chief AI officer, establishing a clear AI leadership team focused on innovation, safe adoption, and regulatory compliance.

AI Initiatives Already in Action

Raymond James has rolled out several AI tools aimed at improving efficiency and advisor experience. These include:

• An AI search function that allows advisors to query internal knowledge bases using natural language.
• A Zoom Meeting Summary tool that automatically extracts action items from video meetings.
• An AI Note Assistant integrated into their proprietary CRM to organize meeting content.
• An upcoming speech-to-text dictation feature to further reduce administrative workload.

The firm’s approach focuses on embedding AI into daily advisor workflows, such as the Opportunities and Advisor Access platforms, which use machine learning to predict and recommend next steps based on user behavior. Back-office operations like cybersecurity and monitoring also benefit from AI enhancements.

Balanced Strategy for AI Adoption

Rather than chasing flashy AI projects, Raymond James emphasizes practical, incremental integration with governance frameworks that ensure compliance and safety. This strategy reduces administrative burdens while supporting firm-wide education programs to prepare employees for AI-driven change.

By combining advanced technology with a relationship-driven business model, Raymond James aims to maintain its competitive edge in wealth management.

About Raymond James Financial, Inc.

Raymond James Financial, Inc. (NYSE: RJF) is a diversified financial services firm offering private client group, capital markets, asset management, banking, and related services to individuals, corporations, and municipalities. The company manages $1.65 trillion in client assets and has been publicly traded since 1983 on the New York Stock Exchange under the symbol RJF.

More information is available at www.raymondjames.com.