The latest wealth management moves in North America.

Fiduciary Trust International
Fiduciary Trust International, a wholly-owned subsidiary of Franklin Templeton, has appointed Sam Fraenkel as a wealth director based in Coral Gables, Florida.

“South Florida remains an important market for our organization, and we look forward to working with Sam to build customized strategies for enabling clients in this region to increase and protect their wealth across generations,” Michael A Cabanas, regional managing director of Fiduciary Trust International’s Coral Gables office, said. 

Most recently, Fraenkel was head of mergers and acquisitions at REDZONE, a software business delivering plant floor connectivity for companies in the food and beverage industry. He was also founder and president of Tomahawk, a leader in the aggregation and analysis of web-based data for hedge funds. Earlier in his career, Fraenkel worked on the equity sales team at Evercore ISI, a research-driven investment bank.

In addition, Fraenkel was head of equity research at Beacon Trust, a full-service wealth management firm. Fraenkel received his bachelor of science degree in finance from Tulane University.

Fiduciary Trust International has made a number of South Florida hires. In June 2020, it appointed Todd Stoller as senior portfolio manager and regional managing director for its office in Boca Raton. Edgardo Gonzalez joined the firm’s Coral Gables office as a managing director and senior portfolio manager in August 2018.

Based in New York, and dating back to 1931, the firm oversees more than $86 billion in assets under management and administration as of June 30. Other Florida offices include Boca Raton and St Petersburg.

Steward Partners
Steward Partners Global Advisory has welcomed Barr Wealth Management, led by advisor Thomas Barr. The firm will be situated in Steward’s New York City office.

Most recently, Barr spent 14 years with Wells Fargo where he managed around $220 million for 35 client households.

"Before making the decision to leave Wells Fargo, I looked at and spoke with at least a dozen firms with varying structures and found that Steward Partners was by far the best choice for me and more importantly, my clients," Barr said. “The fact that The Pritzker Organization has recently invested $100 million in Steward Partners is a testament to what a strong player the organization has become in the advisory space."

Thomas Barr has close to 40 years of experience as a wealth manager. After graduating from the University of Pennsylvania with a degree in economics, he began his career as a portfolio manager in the private banking division of Bankers Trust Company, followed by a similar role at Citi Private Bank. He subsequently spent 20 years at Munn, Bernhard & Associates, (later called MB Investment Partners) a private NYC-based investment advisory firm, before joining Wells Fargo Advisors in 2008. 

Joining Barr will be partner, vice president and senior registered client administrative manager, Arline Strelzik, who has worked closely with him for more than a decade.