Fiduciary Trust Company International, a wholly-owned subsidiary of New York-listed Franklin Resources, has opened an office in Boca Raton, FL.

Fiduciary Trust Company International, a wholly-owned subsidiary of New York-listed Franklin Resources, has opened an office in Boca Raton, FL.

The new location is overseen by Gail Cohen, vice chairman of Fiduciary Trust Company International and Fiduciary Trust International of the South.

Cohen will work alongside Teresa Weintraub, president and chief executive of Fiduciary Trust International of the South, and her Miami team. Fiduciary Trust also said it plans to hire more local staff.  

“As interest in Florida continues to increase among high net worth individuals due to tax advantages and real estate opportunities, it is vital for us to broaden our presence in the state in order to give clients direct, personal access to the depth and breadth of our investment and trust management services,” Cohen said.

Fiduciary Trust Company International is a global investment management firm serving individuals, families, endowments and foundations.

The firm has $43.7 billion in assets under management and administration as of September 30, 2013. It specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services.