Florida Trust holds shareholders meeting
The SanCap Group Inc., holding company of Florida Trust Wealth Management, held its 25th Annual Shareholders’ Meeting on March 25 at the Marriott Sanibel Harbour Resort & Spa in Fort Myers.
Formerly the Sanibel Captiva Trust Company, shareholders, clients, employees and board members attended — just days before the 25th anniversary of the opening of the original office on April 1, 2001.
Founder and Chairman Al Hanser spoke of the growth since launching the organization with a handful of dedicated people and followed up by displaying the teams across all the company’s offices with more than 70 team members today. Hanser reported that Florida Trust executes business based on its mission, vision and values.
“Our mission is clear. We know who we are and the needs that must be met for our clients,” Hanser said. “Our goal is always to provide our very best counsel and execution, no matter what the circumstances or stage of life our clients may be in at that time.”
Chief Executive Officer Terry Igo discussed the history of the company and the efforts that it took to become the success that it is today. He said Hurricane Charley helped set the bar in 2004 when the small-but-committed team took care of its clients and watched after homes on Sanibel and Captiva.
Igo said the organization and assets under management continued to grow through some of the markets’ most volatile years since 2001, including the tech bubble, 2008-09 financial crisis, COVID-19 and supply chain issues. They have been navigated by the experience and strong leadership of Hanser, and the company frequently outperformed the market through the events.
“This is what often happens when investors flee to safety and trust in a consistent long-term investment strategy,” Igo said.
He pointed out several significant growth periods for the firm. In 2013, it had $1 billion in assets under management. Six years later in 2019, that grew to $2.5 billion, and today it is valued at almost $6 billion.
“Most competitors of our size in Florida have sold,” Igo said. “The trust business is not easy. You must have a passion for it, and Florida Trust happens to execute this business extremely well.”
Other presenters included Chief Financial Officer Beth Weigel, who spoke on business profitability. She highlighted that the company’s share price has more than tripled in the last 10 years, growing from $27 a share in 2016 to $84 a share today. Weigel pointed out that $48 million was distributed back to shareholders in that time.
Chief Operating Officer Ian Breusch continued the discussion about growth, noting that 13 team members of the next generation were acquired last year, as well as the promotions and strategic internal employee moves that allow for career advancement. He spoke about staying ahead of the curve on technological integration and the efficiencies of AI.
Speaking on a trending topic, Chief Investment Officer Kristian Jhamb discussed current geopolitical issues and their effects on the markets. He demonstrated how even with intermittent turmoil in the Persian Gulf, Strait of Hormuz, et cetera, portfolios can weather volatility and often end up stronger and higher for it.
Wealth advisor Lucas DeVicente spoke of his team’s new St. Petersburg office that opened in October and the warm welcome from the local business community and prompt escalation in new business.
The meeting concluded with a champagne toast marking a quarter century in business.