Fiduciary Trust set to ramp up in southern Florida

FWR Staff

31 October 2008

Franklin Templeton subsidiary to set up private-client office in Sarasota. Fiduciary Trust has hired former Wachovia Wealth Management relationship manager Tony Strong as a senior v.p. and business development officer in South Florida. Working from Fiduciary Trust's Miami office, he'll focus initially on opening a new office for the firm in Sarasota, Fla.

Strong reports to Fiduciary Trust's business-development head Luke Fowler.

More demand

"Tony has distinguished himself as a trusted consultant to wealthy families in the South Florida region," says Fowler. "His strong ties to the community will enable Fiduciary to expand its presence and provide customized solutions that wealthy individuals and families are seeking."

More generally, volatile markets and fears that some financial-service providers are fundamentally unstable are helping Fiduciary Trust gain traction, according to Fowler. "We have definitely seen heightened demand," he says. "The demand for full-service wealth management capabilities continues to grow in areas with a high concentration of wealth."

Prior to advising private clients for Wachovia in Sarasota, Strong held similar positions with Charlotte, N.C.-based Bank of America and Providence, R.I.-based Citizens Bank, Earlier in his career he was a broker with Merrill Lynch.

Charlotte, N.C.-based Wachovia is expected to merge with san Francisco-based Wells Fargo.

In addition to Miami, Fiduciary Trust has offices in New York, San Mateo, Calif., Los Angeles, Washington, D.C., Wilmington, Del., London, Hong Kong and Grand Cayman. It is a subsidiary of San Mateo-based asset manager Franklin Templeton. -FWR

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