Symbolic object gathered respect (7)
I believe the answer is:
sceptre
'symbolic object' is the definition.
(symbol of royal power)
'gathered respect' is the wordplay.
'gathered' indicates anagramming the letters.
'respect' with letters rearranged gives 'SCEPTRE'.
(Other definitions for sceptre that I've seen before include "Royal symbol" , "Staff of regency" , "Rod of office" , "Official staff" , "Royal staff (paired with 2 down)" .)