The Tampa Bay Trust Company has been renamed Florida Trust Wealth Management, with all of its offices throughout Tampa Bay and Southwest Florida bearing the new name. Formed 25 years ago this coming January, the trust company has offices in Sanibel, Tampa, Belleair Bluffs, Tarpon Springs, Naples, Marco Island, Fort Myers, and a marketing office in Cashiers, NC. The newest office will be opening later this fall in downtown St. Petersburg.
“Originally, our offices in Sanibel, Naples, and Tampa each featured the names of those regions, however, growth became a challenge with geographic-specific names,” said Chief Executive Officer, Terry Igo. “The strategy served us very well in the early years, but as we grew to serve clients beyond the corporate footprint, we knew it was time for a change, and we are thrilled.”
What began in a one-room office on Sanibel Island is today Florida’s largest independent wealth management firm headquartered in Florida with more than $5 billion in assets under management, all through organic growth.
“Achieving this financial milestone speaks to the talent and hard work of our dedicated team members, and the confidence our clients have in this company,” said Mike Dreyer, Tampa Bay President.
The Tampa market is where the trust company first expanded its offerings to include Family Office Services in 2015, designed to help business owners and multi-generational families with complex estates. The area’s high concentration of successful businesses made Tampa the ideal place to form this specialized team.
Among the company’s values is to treat employees extremely well, which in turn creates a culture that results in an excellent client experience. Florida Trust offers its employees an Employee Stock Ownership Plan, which gives them ownership in the company and a vested interest in client satisfaction. The ESOP provides employees with company stock which can increase their retirement savings as the share value rises with company performance.
“Our employees are the third largest shareholder of the company,” said Dreyer. “It’s a wonderful benefit that gives employees assurance that we don’t plan to sell. Team members have the confidence that they can build a career here, have a say in the company’s future and benefit financially.”
“We’ve also been very fortunate to have deep talent in our Hillsborough and Pinellas board members who have been instrumental over the years,” said Igo. Tampa board members include Frank Morsani, Linda Marcelli, John Brabson, Pam Iorio, James Watrous, and Bill Crowder. In addition, we have an engaged and influential advisory board comprised of local businesspeople to whom we are extremely grateful.”
“Our new name unifies our market areas and clarifies our identity throughout Florida, but we remain true to our culture,” said Igo. “Nothing is changing, just our name.”
Florida Trust Wealth Management marks the beginning of its next 25 years with a clear focus on the future of wealth management in Florida.
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