Raymond James’ ETF Hire Shows Active Funds Are Becoming A Platform Priority
Raymond James Investment Management has hired Kristi Higgins as head of ETF strategy, giving the firm a dedicated executive to help build and scale its active exchange-traded fund platform.
The move comes only months after the asset manager launched its first three active ETFs in October. Those funds are managed by Eagle Asset Management, one of the boutique managers inside the Raymond James Investment Management platform.
This is not just a personnel update. It shows Raymond James Investment Management trying to move from ETF launch mode into ETF platform-building mode. The firm already has investment boutiques, advisor distribution and a parent company with a large wealth management network. Higgins’ job is to help turn those pieces into a more competitive active ETF lineup.
TL;DR
New ETF leader: Kristi Higgins joined Raymond James Investment Management as head of ETF strategy.
Active ETF focus: Her role is tied to the continued development and expansion of the firm’s active ETF platform.
Experienced hire: Higgins previously worked at Dimensional Fund Advisors and Allianz Life, with experience launching and scaling ETF businesses.
Initial ETF suite: Raymond James Investment Management launched three active ETFs in October: RJVI, RJDI and RJMI.
Boutique manager angle: The current ETF lineup is actively managed by Eagle Asset Management, part of Raymond James Investment Management’s boutique platform.
Market timing: Active ETFs are gaining demand as advisors and investors look for tax-efficient, flexible and differentiated strategies.
Main test: Raymond James has to prove its active ETF lineup can win advisor attention in a crowded issuer market.
Raymond James Is Moving From ETF Launch To ETF Buildout
Raymond James Investment Management hired Kristi Higgins as head of exchange-traded fund strategy, according to InvestmentNews.
The timing matters. Raymond James Investment Management launched its first active ETFs in October, so the firm is still early in its ETF expansion. Hiring a dedicated ETF strategy leader suggests the company wants to treat ETFs as a long-term product channel, not a side experiment.
Raymond James Investment Management said Higgins will support the development of the firm’s active ETF platform. She joins from Dimensional Fund Advisors, where she served as senior investment strategist and vice president. She previously worked at Allianz Life as principal of ETFs and product strategy.
That background fits the job. Active ETF growth requires more than portfolio management. It requires product design, distribution planning, advisor education, trading support, platform placement and a clear reason for advisors to use one ETF over another. Higgins’ experience across ETF business building gives Raymond James someone who can help connect the product idea to the market execution.
Why This Hire Matters Beyond One Executive
A head of ETF strategy can affect more than fund launches.
For an asset manager entering the ETF market, the hardest part is not always creating the first few products. The harder part is building a platform that advisors understand, platforms approve and investors actually use. ETFs require a different go-to-market rhythm from mutual funds because advisors often evaluate them through liquidity, spreads, tax efficiency, transparency, trading experience and model-portfolio fit.
Raymond James Investment Management already has boutique managers with established strategies. The opportunity is to bring some of those strategies into ETF form. The challenge is choosing which ones make sense in the wrapper and explaining them clearly to advisors.
That is where Higgins’ role becomes important. She is not just overseeing a product shelf. She is helping Raymond James Investment Management decide how its boutique investment capabilities should show up in ETF form.
The Current ETF Lineup Starts With Income
Raymond James Investment Management’s current ETF suite is active and income-oriented.
The three funds are managed by Eagle Asset Management, which gives the lineup a boutique-manager foundation rather than a generic index-tracking identity.
The Three Active ETFs
RJ Eagle Vertical Income ETF (RJVI): An active income strategy tied to Eagle’s fixed income and strategic income capabilities.
RJ Eagle GCM Dividend Select Income ETF (RJDI): A dividend-focused strategy connected to Eagle’s GCM dividend select income approach.
RJ Eagle Municipal Income ETF (RJMI): A municipal income strategy designed for tax-advantaged income exposure.
The lineup is useful because it gives Raymond James a clear starting lane. Instead of launching broad passive equity ETFs where the largest issuers already dominate, the firm is starting with active strategies tied to income, dividends and municipal bonds.
That makes sense. Advisors often use ETFs for portfolio building, tax management, income needs and model allocation. Income-oriented active ETFs can appeal to advisors working with retirees, high-net-worth clients and taxable accounts where cash flow, risk management and tax treatment matter.
Income Is A Practical Doorway Into Active ETFs
Raymond James Investment Management could have entered ETFs with broad market exposure. Instead, its first suite leans toward income.
That choice gives the firm a more practical entry point. Many advisors already know how to use income sleeves in client portfolios. Fixed income, dividend income and municipal income all connect to common client needs.
A retiree may want income without taking too much equity risk. A taxable investor may want municipal exposure. A dividend-focused client may want equity participation with a quality and cash-flow lens. Those are easier conversations for advisors than a vague pitch around “active management” by itself.
Active ETFs also make sense in fixed income and income-oriented strategies because managers can adjust exposures as rates, credit spreads and market conditions change. Passive exposure can still be useful, but active management may appeal when advisors want flexibility around duration, credit quality, sector allocation or dividend selection.
That is the argument Raymond James Investment Management needs to make: not that active ETFs are always better, but that certain strategies may work well in an ETF structure when active judgment matters.
Higgins Brings Product-Building Experience, Not Just ETF Familiarity
Raymond James Investment Management’s official announcement said Higgins has spent much of her career focused on launching and scaling ETF businesses.
That wording is important. The ETF market is not only about knowing the product wrapper. It is about knowing how to take an investment idea from concept to market and then keep supporting it after launch.
Higgins has experience with product innovation, product development, marketing, campaigns and distribution. The firm also said she has helped bring more than 30 ETFs to market across asset classes.
That kind of experience matters because Raymond James Investment Management is competing against issuers with deeper ETF histories. Large ETF providers already have established relationships with trading desks, model builders, due diligence teams, financial advisors and institutional buyers. A newer entrant needs focus and execution to avoid getting lost.
Where Higgins’ Background Could Help
Product selection: Choosing which boutique strategies deserve ETF wrappers.
Launch planning: Turning strategy ideas into products advisors can understand and use.
Distribution strategy: Helping the sales organization explain why the ETFs belong on platforms and in portfolios.
Advisor education: Building materials that explain structure, liquidity, risks and use cases.
Platform scaling: Creating a repeatable process for future ETF launches rather than treating each fund as isolated.
The Boutique Manager Model Is The Core Differentiator
Raymond James Investment Management is not trying to become a passive ETF giant.
Its stronger angle is boutique investment management. The firm’s platform includes managers such as Eagle Asset Management, Chartwell Investment Partners, ClariVest Asset Management, Cougar Global Investments, Reams Asset Management and Scout Investments.
That boutique structure gives the ETF strategy a different purpose. Raymond James can use ETFs to make existing investment capabilities more accessible to advisors and clients. Instead of forcing a choice between traditional active mutual funds and passive ETFs, the firm can bring active boutique strategies into the ETF wrapper.
This is a useful positioning point because the ETF market is crowded. New issuers need a reason to exist. Raymond James can argue that its reason is not simply “we also have ETFs.” Its reason is that its boutique managers have strategies that may fit the ETF structure.
The harder part is deciding which strategies belong there. Not every active approach works well as an ETF. Some strategies may be too capacity-constrained, too illiquid or too difficult to communicate in a transparent structure. Higgins’ role should help the firm evaluate those trade-offs.
Active ETF Demand Is Growing, But Expectations Are Rising Too
The market backdrop is favorable for Raymond James Investment Management.
BBH’s 2026 Global ETF Investor Survey found that investors are embracing ETF innovation, especially active ETFs. The survey said 66% of respondents prefer active management over passive in the next 12 months. It also said nearly all surveyed investors plan to increase exposure to active ETFs.
But the same survey also points to the harder part of the opportunity. Investors are not only looking at the strategy. They are also paying attention to liquidity, tax efficiency, execution support, portfolio consulting and issuer education.
That matters for Raymond James. Launching active ETFs is not enough. The firm has to support them well enough for advisors to understand how they trade, where they fit, what risks they carry and why they should be used instead of existing products.
The active ETF market may be growing, but growth attracts more competitors. That means the firms with the clearest distribution and education plans may have the better chance of building assets.
The Advisor Shelf Is Becoming Harder To Win
ETF success often depends on whether advisors put the funds into actual client portfolios.
That sounds simple, but the advisor shelf is crowded. Advisors already have thousands of ETFs to choose from. They also have model portfolios, third-party strategists, home-office approved lists, due diligence teams and client expectations that shape which products they use.
A new ETF can have a strong manager and still struggle if advisors do not understand the use case. It can have a good strategy and still fail if trading costs, spreads or platform access create friction. It can have a strong launch story and still stall if the issuer does not keep educating the market after the first announcement.
That is why ETF strategy leadership matters. Higgins’ role can help Raymond James Investment Management think beyond product creation and focus on adoption.
What Advisors Usually Need Before Using A New ETF
Clear portfolio role: Advisors need to know whether the ETF is a core holding, satellite allocation, income sleeve or tactical tool.
Risk explanation: Active ETFs need plain-language detail on credit, duration, equity, municipal or income risks.
Trading confidence: Advisors want to understand liquidity, spreads and how to trade the fund efficiently.
Tax context: The ETF wrapper may help, but advisors need to know how the strategy fits taxable accounts.
Due diligence support: Advisor platforms need research, education and comparison materials.
Client-friendly messaging: Advisors need to explain the fund without sounding too technical.
Raymond James Has A Built-In Advisor Audience, But Not A Guaranteed One
Raymond James Investment Management has a connection to a large wealth management parent.
That can help. Raymond James has thousands of financial advisors, a major Private Client Group and a platform where investment products can gain visibility. A strong internal advisor network can give an asset manager a useful distribution base.
But that does not mean adoption is automatic. Advisors still need to believe the ETFs solve a client problem. They also need home-office comfort, research support and enough education to compare the products against competing funds.
This is where Raymond James’ broader advisor platform matters. NJ Financial News has covered Raymond James’ broader platform push, including how the firm is investing in tools that can support advisor workflow. ETF strategy sits in a different part of the business, but the underlying theme is similar: Raymond James is trying to give advisors more usable infrastructure.
For ETFs, that infrastructure is not only technology. It is product access, education, portfolio implementation and investment support.
The ETF Wrapper Changes How Active Managers Compete
Active managers have long competed through mutual funds, separate accounts and institutional mandates.
ETFs change the competitive rules. The wrapper is transparent, tradable, tax-efficient and often easier to incorporate into model portfolios. But it also forces active managers to think differently about distribution, pricing, trading and investor communication.
For Raymond James Investment Management’s boutique managers, ETFs can be a new access point. A strategy that once reached advisors mainly through mutual funds or separate account structures may become easier to use inside an ETF model.
The wrapper also makes comparison easier. Advisors can compare expense ratios, holdings, performance, trading history and category peers quickly. That can help strong products, but it can also expose weak positioning.
This is why Raymond James needs a disciplined ETF strategy. It should not simply convert every strong idea into an ETF. It needs to choose strategies where the ETF wrapper improves access, tax use, trading or portfolio implementation.
Product Design Has To Match The Client Problem
The most effective ETFs usually solve a specific portfolio problem.
For Raymond James Investment Management, the first three ETFs suggest several possible client problems: income generation, dividend exposure and tax-advantaged municipal income. Those are real advisor conversations.
A client approaching retirement may need income but still worry about market volatility. A high-net-worth investor may need municipal income in a taxable account. A client seeking equity exposure may prefer dividend quality and income generation over pure market-cap index exposure.
The ETF format can make those strategies easier to implement inside diversified portfolios. But the product still has to be explained through the client need, not just the investment process.
Client Problems Behind The Initial Suite
Income need: Clients may want cash flow from a diversified strategy rather than relying only on cash or traditional bonds.
Tax sensitivity: Municipal income can matter for investors in higher tax brackets.
Dividend focus: Equity-income strategies can appeal to clients who want participation and cash-flow discipline.
Portfolio flexibility: ETFs can be used in model portfolios, tactical allocations or client-specific sleeves.
Implementation ease: Advisors may prefer a tradable ETF structure when adjusting portfolios across many households.
The Active ETF Race Is Also A Distribution Race
The active ETF market is not only growing because investors like active management. It is growing because the ETF wrapper fits how wealth platforms operate.
Advisors increasingly use ETFs in model portfolios, fee-based accounts and tax-aware client portfolios. ETFs can be traded across households, used as building blocks and compared easily. That makes them useful for both independent advisors and large broker-dealer platforms.
For active managers, this creates pressure. A good mutual fund strategy may not be enough if advisors are shifting more client portfolios toward ETFs. Managers that do not offer ETF versions may lose visibility in some advisory channels.
Raymond James Investment Management appears to understand that risk. Matt Johnson, head of commercial strategy, called active ETFs a central pillar of the firm’s long-term product strategy. That is stronger language than a simple launch announcement.
The phrase “central pillar” suggests the firm sees ETFs as part of how its boutique managers will reach advisors in the future.
The Competitive Field Is Already Crowded
Raymond James is entering a market with many strong ETF issuers.
The largest passive providers still dominate broad market ETF assets. At the same time, active ETF specialists, asset managers, mutual fund companies, defined-outcome providers and boutique firms are all entering or expanding. That makes new active ETF launches both promising and difficult.
The firms that win will likely have a combination of credible investment strategies, strong distribution, advisor education, operational readiness and clear product differentiation.
Raymond James Investment Management has some advantages. It has boutique managers, a recognizable parent company and an advisor-connected ecosystem. But it will still need to earn placement and usage product by product.
ETF investors and advisors are becoming more demanding. They want more than a famous name or a good strategy. They want liquidity, transparency, tax efficiency, execution support and confidence that the issuer will stand behind the product.
What Higgins May Need To Prioritize Next
Higgins’ first challenge may be deciding how fast to expand.
Launching too slowly can cause a firm to miss the active ETF momentum. Launching too quickly can create a scattered product shelf with too many small funds and not enough advisor adoption.
The best path is likely disciplined expansion. Raymond James Investment Management can use its boutique managers to identify strategies that fit real advisor needs and make sense inside ETF form.
Near-Term Priorities
Clarify the ETF roadmap: Advisors should know whether future funds will focus on income, fixed income, equity income, alternatives, municipal strategies or broader boutique capabilities.
Build advisor education: The firm needs simple explanations of how each ETF fits in client portfolios.
Support trading confidence: Advisors need help understanding liquidity, spreads and execution.
Protect product quality: New launches should come from strategies that truly fit the wrapper.
Differentiate from competitors: Each ETF needs a reason to exist beyond being another active option.
Connect boutiques to the wrapper: The firm should show how its managers’ existing strengths translate into ETFs.
The Bigger Story Is Access To Boutique Active Management
The most interesting part of the Raymond James ETF story is not the three current funds. It is the possibility of turning boutique active strategies into more accessible portfolio tools.
Raymond James Investment Management’s structure gives it several investment teams with different specialties. ETFs can become one way to bring those capabilities to advisors who want active management but prefer the ETF wrapper.
That could matter for clients. A client may not care whether a strategy began as a mutual fund, separate account or institutional mandate. The client cares whether the advisor can access an appropriate strategy efficiently, at a reasonable cost and with a clear explanation of risk.
For advisors, the ETF wrapper can make implementation easier. For Raymond James, it can widen distribution. For boutique managers, it can create a new way to reach clients.
That is the strategic logic behind the hire.
The Risk Is Building Products Faster Than Demand
The opportunity is clear, but so is the risk.
The ETF market is filled with funds that never reach meaningful scale. Some have good ideas but weak distribution. Others are too narrow. Some enter crowded categories where advisors already have preferred options. Others fail because the issuer does not provide enough support after launch.
Raymond James Investment Management can avoid that trap by tying launches to advisor demand, not only manager supply.
A boutique manager may have a strong strategy, but that does not automatically mean advisors need it in ETF form. The product has to solve a problem in portfolios, fit platform due diligence and compete on cost, trading and clarity.
That is where Higgins’ execution experience should matter. The firm needs product discipline, not just product ambition.
Advisor Education May Decide The Outcome
Active ETFs often require more explanation than broad passive ETFs.
A passive S&P 500 ETF is easy to understand. An active municipal income ETF, dividend select strategy or multi-asset income ETF requires more context. Advisors need to understand the manager’s process, where the risks sit, when the strategy may underperform and what role it plays in a diversified plan.
Education is also important because active ETF buyers may ask sharper questions. Why use this active ETF instead of a mutual fund? Why this manager instead of another? What is the liquidity profile? How does tax efficiency work? How does the strategy behave in different rate environments?
Raymond James Investment Management will need to answer those questions repeatedly and consistently.
This is where ETF strategy becomes more than product management. It becomes advisor communication.
Raymond James Is Trying To Meet The ETF Market Where It Is Going
The ETF market is moving beyond simple passive exposure.
Investors are increasingly interested in active management, ETF share classes, private market access, income tools and more specialized portfolio outcomes. That does not mean every new idea will succeed. It does mean issuers need to think differently about product design and distribution.
Raymond James Investment Management’s hiring of Higgins suggests the firm wants to be more intentional in that shift. It has a small active ETF lineup now, but the ingredients for a broader platform are visible: boutique managers, income strategies, advisor distribution and a dedicated ETF strategy leader.
The next question is whether the firm can turn those ingredients into products advisors actually use.
Frequently Asked Questions About Raymond James’ ETF Strategy Hire
Who Is Kristi Higgins?
Kristi Higgins is the new head of ETF strategy at Raymond James Investment Management. She previously worked at Dimensional Fund Advisors as senior investment strategist and vice president and earlier held ETF and product strategy roles at Allianz Life.
What Will Higgins Do At Raymond James Investment Management?
Higgins will support the continued development and expansion of Raymond James Investment Management’s active ETF platform. Her role includes helping the firm scale ETF capabilities and bring boutique investment strategies into the ETF structure.
What Active ETFs Has Raymond James Investment Management Launched?
Raymond James Investment Management launched three active ETFs in October: RJ Eagle Vertical Income ETF, RJ Eagle GCM Dividend Select Income ETF and RJ Eagle Municipal Income ETF. The funds are actively managed by Eagle Asset Management.
Why Are Active ETFs Important To Raymond James?
Active ETFs are important because they give Raymond James Investment Management a way to offer boutique active strategies in a transparent, tax-efficient and operationally flexible structure. The firm has described active ETFs as a central pillar of its long-term product strategy.
Why Is The Active ETF Market Growing?
Active ETFs are growing because advisors and investors want strategies that combine active management with ETF benefits such as tradability, tax efficiency and portfolio flexibility. BBH’s 2026 ETF investor survey found strong interest in active ETF exposure and active management more broadly.
Raymond James Now Has To Turn ETF Ambition Into Advisor Adoption
Raymond James Investment Management’s Kristi Higgins hire gives the firm a clearer ETF strategy story.
The firm has already launched its first three active ETFs. It has boutique managers that can supply differentiated investment capabilities. It has a parent company connected to a large advisor ecosystem. And now it has an ETF strategy leader with experience building and scaling ETF businesses.
The opportunity is real because active ETFs are gaining momentum. But the market is crowded, and advisors will not adopt new funds simply because Raymond James has entered the space.
The next test is adoption. Raymond James Investment Management has to show that its active ETFs solve real portfolio problems, trade efficiently, receive strong advisor support and stand out from competing products. If Higgins can help make that happen, the hire may become more than an ETF personnel move. It could become a turning point in how Raymond James brings boutique active management into the ETF market.
Further Reading
Raymond James Investment Management Taps Kristi Higgins To Lead ETF Strategy: InvestmentNews’ report on Higgins’ appointment and Raymond James Investment Management’s active ETF expansion.
Kristi Higgins Joins Raymond James Investment Management As Head Of ETF Strategy: Raymond James Investment Management’s official announcement on Higgins’ role, background and ETF platform responsibilities.
2026 Global ETF Investor Survey: BBH’s ETF investor survey covering active ETF demand, investor expectations and issuer challenges.
Raymond James Launches Rai AI Operations Agent: Related NJ Financial News coverage on Raymond James’ broader platform push and advisor infrastructure investments.
