Fulton Financial Advisors has renewed its partnership with Raymond James Financial Services’ Financial Institutions division for further five years.

Fulton Financial Advisors first partnered with Raymond James in June 2008 and since then has grown the bank-based investment program to become Raymond James Financial Services’ major partnership, with approximately US$2.5 billion in client assets under administration and generating almost US$20 million in annual revenue.

Through the partnership, Raymond James provides securities brokerage, financial planning and asset management services as well as capital markets capabilities.

Dave Hanson, CEO of Fulton Financial Advisors, said: "We began to focus on recurring revenue five years ago, and that has had an enormous impact on our business, giving us a very sustainable growth trajectory and resulting in better client outcomes.

"We’re aligned more with each client, who is consistent with our corporate culture and relationship-oriented approach. We have several things going in our favor to help keep that momentum. And we hope that continues to build on itself," Hanson added.

John Houston, managing director of the Financial Institutions division of Raymond James, said: "We look forward to continuing to support Fulton Financial Advisors as they seek to achieve their goals and to help their advisors grow and prosper."