Jeffrey Saut joined Raymond James in 1999 as one of the managing directors of research working with senior managing director Bob Anastasi. He also serves as the firm's Chief Investment Strategist. Previously, Mr. Saut was managing director of research at Roney & Co., Which was acquired by Raymond James & Associates. Prior to that, he was managing director of equity capital markets for Sterne, Agee & Leach, Inc. His responsibilities there included equity research, investment banking, institutional sales, and syndicate.

After graduating from St. Andrews in 1971, Mr. Saut began his career on a trading desk in New York City and became the trade desk manager in 1972. In 1973 he joined E.F. Hutton, where he began following equities and writing research. He subsequently worked as a securities analyst for Wheat First Securities, and then Branch Cabell, where he ran the equity research group as director of research and acted as portfolio manager for the firm's affiliate, Exeter Capital Management. As director of research he built the reserach and institutional sales departments for the regional brokerage firm Ferris, Baker, Watts, Inc. and subsequently Sterne, Agee & Leach, Inc.

Mr. Saut is well known for his insightful and colorful commentary regarding the stock market and makes regular appearances on Wall Street Week, CNBC, Bloomberg TV, USA Networks, Fox TV, NPR, and many local radio and TV networks. He is often quoted in The Wall Street Journal, New York Times, Barron's, The Washington Post, Business Week, U.S. News & World Report, Fortune, SmartMoney, as well as on many Web Sites such as MSNBC and







Boyd Nelson studied law at Washington University in St. Louis, Missouri. His studies were concentrated in the areas of estate planning, business and tax. He received his Juris Doctor degree in 1996. Prior to that he attended the University of Missouri where he received his Bachelor of Science in Business Administration with a double emphasis in Corporate Finance and Real Estate.

Boyd joined Raymond James Trust N.A. in the fall of 1996. After serving in an administrative capacity, Boyd started marketing for the organization in the southwest area of Florida. Soon his responsibilities were increased to include the Midwestern states. In 2004 New York Life recruited Boyd to create and implement their marketing program for New York Life Trust Company. In 2005 Raymond James Trust N.A. brought Boyd back to launch their marketing effort to the Western United States.

Boyd is a member of the Florida and ST. Petersburg Bar Associations and is active with the Tampa Bay Estate Planning Council, a professional organization of estate planners. Boyd is a Certified Trust Financial Advisor, a graduate of the American Bankers Association Graduate Trust School and Financial Advisor. He is a frequent lecturer to Financial Advisors, Attorneys and CPAs concerning estate taxes, the use of trusts and their places in estate plans.

Raymond James Trust is affiliated with Raymond James & Associates and Raymond James Financial Services.

Raymond James is not affiliated with any of the other listed entities.

Raymond James does not provide tax or legal services.