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Fiduciary Trust International Continues Expansion in South Florida, Opening New Office in West Palm Beach
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Fiduciary Trust International, a global wealth manager, has opened a new office in West Palm Beach, Florida, providing local access to customized investment and wealth management services for high-net-worth clients. The region is attracting financial services companies from New York, earning the nickname 'Wall Street South.' The company aims to bring its expertise and offerings to more people in the area through the new office.
Positive
Fiduciary Trust International has established a new office in West Palm Beach, Florida, offering local access to its investment and wealth management services for high-net-worth clients.
West Palm Beach is gaining prominence as 'Wall Street South,' attracting financial services companies from New York.
The new office in West Palm Beach will help Fiduciary Trust International expand its reach and bring its expertise and customized offerings to more people in the area.
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Clients in West Palm Beach Receive Greater Access to Organization’s Regional Team and Capabilities
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--
Fiduciary Trust International, a global wealth manager and wholly-owned subsidiary of Franklin Templeton, has established a new office in South Florida, located at 360 S. Rosemary Ave. in West Palm Beach. The 10,439-square-foot office will provide high-net-worth clients in West Palm Beach with local access to the organization’s customized investment and wealth management offering, including access to leading alternative investment managers, family office services, trust and estate management, and sustainable investing expertise and capabilities.
“South Florida is a region of growing importance to not only our firm, but also the financial services industry as a whole, given the increasing number of transplants from across the United States and the world,” said Todd Stoller, regional managing director and senior portfolio manager at Fiduciary Trust International responsible for the West Palm Beach and Boca Raton offices. “We are proud of our longstanding presence in South Florida, and we continue to expand to provide high-net-worth families, foundations, and endowments here with personalized plans, services, and solutions they need to preserve and grow their wealth across multiple generations.”
West Palm Beach is fast becoming known as “Wall Street South”—so much so that the Business Development Board of Palm Beach County sponsored three billboards in New York City bearing the moniker, which debuted in August 2023. The new office towers in downtown West Palm Beach, including the 360 Rosemary where Fiduciary Trust International’s new outpost is located, have attracted approximately 100 financial services companies from New York since 2019, according to Palm Beach County’s Business Development Board.
“We have been deeply ingrained in the South Florida community for decades, and the financial services industry’s expansion in this region is vital for the local economy,” said Gene Todd, executive vice president and head of regional markets at Fiduciary Trust International. “Our focus remains on the seamless delivery of financial peace of mind to clients and their families, and our new office in West Palm Beach will help us bring our expertise and customized offering to more people in this area.”
Fiduciary Trust International also maintains South Florida offices in Boca Raton, Coral Gables, and Fort Lauderdale. Firm veteran William Y. Yun, CFA rejoined in October 2022 to focus on driving growth in South Florida. The company is well-respected in the region, with Gail E. Cohen, chair of its board of directors and general trust counsel as well as chair of Fiduciary Trust International of the South, having been recognized by the South Florida Business Journal as one of the publication’s “Influential Business Women” in 2020.
The firm has experienced steady growth in South Florida in recent years. Robert W. Murphy came aboard as a Boca Raton-based wealth director in September 2022, and Sam Fraenkel started as a wealth director in the Coral Gables office in August 2022.
About Fiduciary Trust International
Fiduciary Trust International, a global wealth management firm headquartered in New York, NY, has served individuals, families, endowments and foundations since 1931. With over $94 billion in assets under management and administration as of June 30, 2023, the firm specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services. The New York-based firm and its subsidiaries maintain offices in Coral Gables, FL, Boca Raton, FL, Fort Lauderdale, FL, West Palm Beach, FL, St. Petersburg, FL, Radnor, PA, Lincoln, MA, Los Angeles, CA, San Mateo, CA, San Francisco, CA, Washington, DC, Wilmington, DE, Reston, VA, and Atlanta, GA. For more information, please visit fiduciarytrust.com, and for the latest updates, follow Fiduciary Trust International on LinkedIn and X: @FiduciaryTrust.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,300 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and approximately $1.4 trillion in assets under management as of September 30, 2023. For more information, please visit franklintempleton.com and follow us on LinkedIn, X and Facebook.
What services does Fiduciary Trust International provide in its new office in West Palm Beach?
Fiduciary Trust International's new office in West Palm Beach offers customized investment and wealth management services for high-net-worth clients.
Why is West Palm Beach referred to as 'Wall Street South'?
West Palm Beach is gaining prominence as 'Wall Street South' due to the increasing number of financial services companies from New York that have established a presence in the region.
What is the goal of Fiduciary Trust International's new office in West Palm Beach?
The goal of Fiduciary Trust International's new office in West Palm Beach is to expand its reach and bring its expertise and customized offerings to more people in the area.
