Matthew Watts Email and Phone Number

- Built and lead a centralized function staffed by 80+ associates to supervise Financial Advisors’ use of several products and services. Also leading the firm’s effort to align with the SEC’s Regulation Best Interest and upcoming DOL fiduciary definition revision. Member of Private Client Group (PCG) Operating Committee.- Provide standardized supervisory reviews and support regardless of advisor’s affiliation (employee, independent contractor, etc.). Responsible for five Supervision departments:1. Specialized Products – approve clients and advisors to use products such as options, structured products, alternative investments (hedge funds and private equity), futures, and other complex products. Supervise point of sale and ongoing suitability. Member of the firm’s New Product Committee.2. Traditional Products – supervise point of sale and ongoing suitability of transactions in annuities, life insurance, mutual funds, UITs, high yield fixed income, and ETFs. Member of the firm’s Capital Markets Committee for new issues.3. Investment Advisory – ensure Financial Advisors operating as Investment Advisory Representatives fulfill their fiduciary duty to serve clients as dictated by relevant SEC, state, and other statutes. Steering Committee member for SEC Marketing Rule implementation.4. Banking and Lending Products / Institutional Fiduciary Services – supervise use of lending solutions such as margin and securities based lending, as well as other bank products. Supervise Financial Advisors acting in specialized capacities such as advising municipalities, and acting as 3(21) or 3(38) fiduciaries with respect to plan assets.5. Fiduciary Services – led the enterprise Regulation Best Interest implementation, as well as future fiduciary change initiatives corresponding to other federal (e.g. DOL) or state fiduciary rules. Member of the firm’s Conflicts of Interest Committee.- Member of several retail and retirement focused industry committees and roundtables.

- Led Raymond James’ firmwide efforts to align with the Department of Labor’s (DOL) Fiduciary Rule as well as the effort to selectively unwind certain policy and process changes after the rule was vacated by the Fifth Circuit Court of Appeals in March 2018.- Drafted the firm’s comment letter on the proposed SEC Regulation Best Interest.

- Chief of Staff to the Senior Vice President responsible for all Raymond James product areas and high net worth / retirement planning.- Helped lead the firm’s lobbying efforts to oppose the Department of Labor’s proposed Conflict of Interest / Fiduciary Rule. Efforts included multiple meetings with the Department of Labor and 30 congressional offices in Washington, D.C., preparation of testimony to the House Committee on Financial Services and the Department of Labor, and representing the firm in SIFMA and IRI lobbying efforts. Wrote the firm’s comment letters to the Department on the proposed rule and proposed delay.- As part of the working group, led Raymond James’ Fiduciary Rule implementation efforts.

- Director of Platform Administration and Operational Due Diligence of the Alternative Investments platform with $6 billion in assets at that time.- Directed all aspects of operations and operational due diligence including selling agreement negotiations, fund onboarding, compliance, suitability reviews, investment funding, valuation updates, redemptions, and commission collection and payment to Financial Advisors. - Played a lead role in merging the Morgan Keegan and Raymond James Alternative Investments platforms in 2012 and 2013. Results: $2 billion in alternative investments transferred; 10,000 positions converted seamlessly; all processes and service levels improved and streamlined.

- Primary assistant to the firm’s Chief Compliance Officer aiding with the identification and implementation of risk mitigation strategies designed to reduce regulatory and litigation risk. - Managed the testing of Raymond James & Associates Compliance Supervisory Control System (mandated by NASD Rule 3012) ensuring compliance with applicable securities laws. - As Compliance Officer for Raymond James’ Alternative Investments Group, Options Trading Desk, and Stock Loan product areas, identified and managed risk inherent in products suitable for high net worth entities, as well as stock lending activities.

- Established the first business process improvement group at Raymond James. Created the Raymond James Business Process Improvement methodology and deliverable templates based on a combination of Six Sigma concepts and management consulting firm frameworks.- Developed business cases to streamline key Raymond James’ functions including: new account opening and account maintenance, cash and securities receipts and disbursements, client account transfers, and fee billing and collection. Combined benefits of projects exceeded $4,000,000.- Facilitated constructive cross business unit process improvement dialogue between stakeholders in a culture which had traditionally fostered management within organizational silos.

Proprietary equities trader specializing primarily in biotech securities.

Project Manager, Human Performance R&D Program 1999 - 2000Ensured 26 Accenture internal Research and Development projects with a combined annual budget of $12,000,000 remained within budgetary constraints and produced required deliverables.Consultant, BASF SAP R/3 Implementation 1997 - 1999Part of a team that developed a strategic proposal to decrease BASF’s Plant Maintenance, Purchasing, and Inventory costs through the implementation of an enterprise resource planning system (SAP R/3). Key benefits:- $50,000,000 reduction in annual maintenance expenditures- 20% reduction of inventory held at 40 plant sites- Consolidation of North American Purchasing departments from 52 to 4 resulting in more than $10,000,000 annual savings- Created a Performance Solution Plan selected by BASF Corporation to address Change Management, Training and Communications needs for the SAP R/3 implementation. Proposal generated $5,000,000 in consulting revenue. Plan ultimately achieved 100% employee readiness at all sites.- Led the SAP R/3 Change Management / Training efforts at 14 sites for over 3,000 people.Analyst, Projects for Olin Chemicals, Merck, and ConocoPhillips 1995 - 1997Participated in human performance enhancement initiatives related to enterprise wide system implementations for these corporations.