New Office
Wisconsin-Based Wealth Firm Joins The Great Florida Rush
Another wealth manager is setting up shop in the state, continuing a trend we have reported over the past year or so.
Wisconsin-based Annex Wealth Management has opened an office in Naples, Florida, a sign of how the Sunshine State continues to be a draw for such businesses.
Previously at firms such as TD Ameritrade, Bryan Fiore will be the office’s branch director, according to a statement in Business Observer.
The firm’s website listed Naples as one of its offices, along with those in Appleton, Lake County, Madison, Mequon, Elm Grove and Pfister.
“Annex is proud to be bringing our fee-only model to the people of Southwestern Florida,” Annex founder and CEO Dave Spano was quoted as saying.
Appealing Florida
A number of wealth firms have set up offices in Florida. In the
case of Dynasty Financial Partners, it has moved its headquarters
there from New York City. Hamilton Capital, a Columbus-based
registered investment advisor with more than $2.5 billion in
assets under management, opened an office in Palm Beach. The
Glenmede Trust Company, which recently formed a transatlantic
pact with a multi-family office, plans to open a new office in
West Palm Beach, Florida – the firm’s first office in the state.
Among other firms expanding in Florida are Goldman Sachs, which recently named its region head for Florida and Latin America, and has added hires in its private wealth management business; Rockefeller Capital Management, which has made a raft of hires in recent weeks, named the first person to join its newly-opened office in Florida; Evercore Wealth Management opened a new office in Palm Beach; Landsberg Bennett Private Wealth Management launched earlier this year in Punta Gorda, Florida; and Boston Private appointed advisors as part of its work with a Florida-based firm. SunTrust Banks added a team of four wealth management professionals to its business in Naples.
A few weeks ago personal finance website WalletHub put Florida as one of the states with the highest return on investment in terms of its tax burden and provision of public services.
