Preston Covington

Preston Covington

Senior Vice President, Investments
Managing Director

Preston draws on his experience bringing meaningful and honest insight to his clients’ financial strategies since 1984. With extensive experience through many different economic and market environments, he has dedicated his career to helping investors and their families make smart, well-informed financial decisions and navigate the myriad details involved in wealth accumulation and estate planning.

Preston was named to the 2023, 2022, 2021, 2020 and 2019 Forbes list of Best-In-State Wealth Advisors.* A list which recognizes advisors who are laser focused on having a positive impact in their client’s lives and that add meaning and help families accomplish their most important goals. In addition, in 2020, 2017 and 2016 he was recognized as one of Barron’s top 1,200 financial advisors** in the U.S., a designation reserved for financial advisors who have demonstrated the highest ethical standards, production criteria, and commitment to client service excellence.

Preston earned a bachelor’s degree in economics from Washington & Lee University in Virginia and completed advanced training for branch managers at the University of Pennsylvania’s prestigious Wharton School of Business. He also holds applicable securities registrations and insurance licenses.

An Eagle Scout, Preston has served as vice chairman for and was a 9 year member of the Heathwood Hall Episcopal School board of trustees. He has also been a member of the Shandon United Methodist Church administrative board and its board of trustees and the executive and endowment committees for the Indian Waters Council – Boy Scouts of America. Currently, Preston serves as Vice Chair of the MUSC Hollings Cancer Center Advisory Board. Preston and his wife, Mary, have two daughters, Cleveland and Mary. In addition to spending time with his family, he enjoys offshore fishing and the occasional round of golf.

Areas of Focus

  • Pre- and post-retirement planning
  • Customized investment services designed to address virtually any financial situation
  • Fixed-income strategies for investors who desire a predictable cash flow
  • Evaluation of insurance coverage and gap analysis
  • Coordination of recommendations with other advisors, such as attorneys and CPAs
  • Estate investment planning and personal trust services through our affiliates

* The Forbes Top Wealth Advisors Best-In-State 2023 ranking, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. This ranking is based upon the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 39,007 nominations, 7,321 advisors received the award. This ranking is not indicative of an advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/lists/best-in-state-wealth-advisors/?sh=181ba856ab97 for more info.. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/best-in-state-wealthadvisors for more info.

**Barron's Top 1,200 Financial Advisors, 2020: Barron's is a registered trademark of Dow Jones & Company, L.P. All rights reserved. The rankings are based on data provided by over 4,000 individual advisors and their firms and include qualitative and quantitative criteria. Data points that relate to quality of practice include professionals with a minimum of 7 years financial services experience, acceptable compliance records (no criminal U4 issues), client retention reports, charitable and philanthropic work, quality of practice, designations held, offering services beyond investments offered including estates and trusts, and more. Financial Advisors are quantitatively rated based on varying types of revenues produced and assets under management by the financial professional, with weightings associated for each. Investment performance is not an explicit component because not all advisors have audited results and because performance figures often are influenced more by clients' risk tolerance than by an advisor's investment picking abilities. The ranking may not be representative of any one client's experience, is not an endorsement, and is not indicative of an advisor's future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. Barron's is not affiliated with Raymond James

Raymond James is not affiliated with the above organizations and/or charitable causes.