Market voices: Challenges, opportunities
Kelley Brown-Murro Fort Lauderdale and West Palm Beach Market Executive Regions Bank
When COVID-19 hit, Regions pivoted very quickly from being a localfacing bank to taking that ability to connect with clients remotely. Some people do not have the ability to work from home so our banks remained open by appointment. Our retail employees worked one-on-one with customers to identify financial needs during the pandemic. Back-office operations remained productive from a remote working standpoint. A lot of those lessons will remain as we transition to the new normal. We have learned to be quite efficient in some new ways so I think those elements will remain.
The banking sector has seen a lot of consolidation in the last 10 years, and I think we will continue to see that. Customers are looking for more ways to bank remotely. As banks compete for customers, it is likely they will increase the number of products and services available in their remote channels. The key for a successful merger and acquisition is to integrate and consolidate well and to win over the hearts of acquired customers by providing the convenient products and services of larger banks, but with the personalized attention of a hometown community bank.
Christine Gagnon Director EisnerAmper
Chuck Cross
Regional Market President Seacoast Bank
Some companies have experienced difficulties in getting supplies in a timely fashion, mostly due to the fact they are manufactured overseas. This could provide domestic opportunities to increase local production of such supplies, with an increased number of facilities to accommodate our needs locally and nationally. Palm Beach County has a few laboratories where the focus is on researching vaccines, among other things. We may see a shift whereby researchers are focusing more on COVID-19-related issues, which could be to the detriment of other research studies, that may be pushed aside throughout the pandemic’ s duration. There will definitely be a need for more laboratory space to accommodate all of the necessary research for different fields.
The main challenge for newcomers is that anyone with wealth oftentimes already has a financial adviser. Generally, we attract new clients because of the level of knowledge, sophistication and expertise that we have. Wealth is created by an event such as retirement, relocation, inheritance, divorce or sale of a business. These investors need planning and advice and Raymond James advisers have expertise and knowledge, sophisticated software, access to intellectual capital and other tools that allow us to perform comprehensively and efficiently. We are available to provide planning focus dealing with the continuing development and transfer of assets through estate planning and proper investment.
Daniel Kraus
Senior Vice President & Managing Director Raymond James
www.capitalanalyticsassociates.com
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