Colby Masterson, RJFS


CFP®, JD, Certified Financial Planner ™, RJFS

Colby is an owner and partner of Frey Masterson Investment Advisors. He is a dedicated financial advisor committed to analyzing unique client goals and developing wealth management strategies to help meet their needs. His consultative approach allows him to develop and nurture long-term relationships. He focuses on offering proactive advice, creative planning and, most importantly, exceptional service.

Colby graduated Magna Cum Laude with a degree in Sociology from Florida State University. He then graduated from the Florida State University College of Law, with a concentration in estate planning and tax. After passing the Florida Bar, Colby returned home to St. Petersburg and worked as an Associate with Gay & Gordon PA. His legal practice focused on estate/tax planning, probate, and real estate. Colby then transitioned to a role as an Institutional Sales Trader with JonesTrading in Orlando. While at Jones, Colby worked with large institutional investment firms (hedge funds, mutual funds, RIAs) to source liquidity for large equity trades, mostly in illiquid small cap companies.

A desire to return home and refocus his practice on personal and small business planning brought him back to his hometown of St. Petersburg, where he worked as an Investment Consultant for Northern Trust. During that time, he provided consultative investment advice and goal planning techniques to high net worth families, retired executives, small business owners, and local charitable organizations.

Colby is proud to be a fourth-generation St. Petersburg resident. He is also proud of the footprint that members of his family have left in this great community. His great-grandfather, Nick Dennis, built the Dennis Hotel (now Williams Park Hotel) in 1914. Two annual awards from separate legal organizations are named after his grandfather, Barney Masterson. The awards are given to attorneys exemplifying professionalism and ethical behavior. Colby’s father, Tom, has carried on Barney’s legal tradition and has been practicing law in St. Petersburg for over 30 years. His mother, Dennie, is an active community volunteer. Colby’s wife, Andrea, is a Senior Manager for HSN Cares. Colby and Andrea live on Harbor Isle with their two children, Ella and Tommy.  They attend St. Paul’s Catholic Church where their children also attend school.

He is an active participant in non-profit community organizations, serving on the Board of the Give Hope Foundation ( for the past seven years and as Treasurer for six of those years. He is also the Immediate Past Chair of the Police Athletic League (PAL) of St. Petersburg ( and has volunteered his time with the American Heart Association, Great American Teach-In, and Habitat for Humanity of Pinellas.  He is also a graduate of the 2014 Class of Leadership St. Pete.

When he’s not working, Colby enjoys spending time with his family, running, reading, watching Florida State football, grilling, fishing and traveling to new places.


*Raymond James does not provide any legal or tax advice.


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Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNERTM, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

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