The life and legacy of Bob Gates

Robert “Bob” Gates was born in Philadelphia on April 11, 1939, and grew up in Wilkes-Barre, Pennsylvania, and Wilmington, Delaware. He moved to St. Petersburg with his family in 1965, transferred by the Norcross Greeting Card Company to develop the growing market on Florida’s west coast.

After a long career in sales management, Bob began anew as a financial advisor at Raymond James in 1982 at its Central Avenue office, the firm’s headquarters at the time. Bob was fortunate enough to have as his mentor Bob James, the very founder of Raymond James. 

Following Mr. James’ advice, Bob built his business from the ground up, focusing initially on fixed-income investments. Realizing that the country was in the early stages of a bull market, he convinced many of his clients to diversify their holdings to also include stocks. He was an early adopter of separately managed accounts (also known as managed money) and was a firm believer that one size did not fit all, eschewing the trend to merely build standard investment solutions. 

Bob was also very loyal, especially to those who supported him. When he gained entry into the Raymond James Chairman’s Council, a prestigious distinction earned by just the top advisors in the firm, he was often advised by industry consultants to hand off his smaller accounts to other advisors so that he could focus on high-net-worth clients. Bob would not hear of it – he never considered himself “too successful” to help anyone, especially his long-time clients.

Bob was very personable and it was clear he took a genuine interest in the well-being of all his clients. He prided himself in always being prepared, never late for an appointment or client meeting. It is a testament to his professionalism and loyalty that many of his clients from the early 1980s are still with us today.

Bob attended the University of Delaware, where he pitched the Blue Hens into the College World Series. He continued his love of baseball by coaching his son’s Little League teams for many years. Bob was an avid tennis player and golfer, and served as past commodore of the Treasure Island Tennis & Yacht Club.

Bob passed away on March 29, 2012, survived by his wife of 51 years, Edwina; their daughter and her husband, Debbie and Jeff Gaster; their son and his wife, Doug and Laura Gates; and four grandchildren, Katie and Allie Gaster, and Kevin and Eric Gates.