As president of the Raymond James Private Client Group, Scott Curtis leads the firm’s domestic wealth management businesses, which include more than 8,000 employee and independent financial advisors and generate more than 70% of overall firm revenue.
Curtis is based in Florida’s Tampa Bay area and has been with Raymond James since February 2003. Prior to his current role, he served as president of Raymond James Financial Services, directing the firm’s independent advisor business.
From 2006 to 2012, he was senior vice president of the Raymond James & Associates Private Client Group, where he was responsible for leading initiatives focused on revenue growth, efficiency enhancement, product development, risk mitigation and service improvement. He is also a member of the Financial Industry Regulatory Authority Membership Committee and serves on the board of the Financial Services Institute.
Outside the financial sector, he serves on the boards of the nonprofit Chi Chi Rodriguez Youth Foundation and the local social services organization United Way Suncoast.
Via email, we asked Curtis a series of questions that touched not only on his professional knowledge but also what he does off the clock.
1. What market indicator, industry statistic, regulatory change or advisor trend are you watching most closely right now and why?
Scott Curtis: Among other market indicators, I pay close attention to short- and medium-term interest rates and public and private business valuations. While not always accurate, they typically reflect future economic expectations.
2. How have these figures been changing recently and how do you expect them to change in 2022?
Valuations continue to increase, albeit at a slower pace more recently. With multiple points of evidence reflecting inflationary pressures, perhaps in 2022 interest rates will increase.
3. What would you suggest advisors do now or consider doing in the future about them?
Regarding investments, hopefully advisors are already adhering to the time-tested benefits of appropriately diversifying clients’ holdings and lowering fixed income durations.
It’s not a new idea but the expected rise in interest rates provides a good opportunity to convert clients’ floating rate debt to fixed.
4. Who or what critical source of information do you track or follow online to keep up with this or other trends?
I rely on multiple sources, more of a patchwork, including Raymond James research, CNBC, Apple News and Barron’s (on the weekend).
5. Are you changing any of your work habits at this stage of the pandemic?