Boston Private Wealth just hired two more financial advisors — the first step of a major initiative to double its presence on the west coast of Florida in the next three years.
Formerly SteelBridge Private Wealth, John Tassone and Tate Haire managed more than $80 million in discretionary assets, according to a Form ADV filed in January. Their office in Naples, Florida, will become part of the Boston-based RIA by the end of the year, says Scott Dell’Orfano, president of the firm’s wealth management unit.
The men will spearhead an initiative to introduce trust and banking services in the region, he says. “Given where we are today, we should be able to double that productivity at a minimum,” says Dell’Orfano, adding that the growth will come organically and from strategic acquisitions and partnerships.
Boston Private Wealth manages $7.4 billion in client assets, according to a Form ADV filed in March. It has 21 client-facing advisors, with a focus on private high-net-worth to ultrahigh-net-worth clients, Dell'Orfano says. About 20% of the clients are institutional.
There is room for growth in current markets as the firm focuses on deepening its positions, he notes. The firm also has an eye toward major wealth centers — places like Washington D.C. or New York — if opportunity arises, he says. Currently, the firm has offices across the U.S., including San Francisco, San Jose, Los Angeles, Palm Beach, Florida and Naples, Florida, says the firm.
Tassone and Haire have been operating as SteelBridge Private Wealth advisors for approximately two years, per FINRA BrokerCheck records.
Tassone has worked as an investment advisor for Genspring Family Offices, Deltec Wealth Management and Bakeravenue since 2006, per BrokerCheck. Haire comes from BB&T Investment Services, SunTrust Investment Services, and most recently, Wells Fargo Advisors before joining SteelBridge, per BrokerCheck.
Dell’Orfano expects the new hires to play a significant role in growth in West Florida in the near future. “100% of [their] clients thought it was great: a great fit, more resources, more depth,” he says.