Brown anticipates double digit growth in wealth advisory services for high-net-worth residents, as Florida is named as one of the fastest-growing luxury housing markets
Ted BrownFlorida Regional President
Brown will focus on growing Wilmington Trust’s wealth advisory business in Florida by double digits, adding six to eight new hires in the five Southeast Florida counties where the firm currently serves clients, and expanding to new parts of the state.
Florida continues to be a magnet for affluent individuals and families, due to its many tax advantages, as well as its friendly business climate and lifestyle benefits. A recent study by Mansion Global, a Dow Jones publication, identified Florida as one of the fastest-growing luxury housing markets, a trend accelerated by The Tax Cuts and Jobs Act of 2017. Moreover, with an increasing percentage of Americans living into their 90s, the estate planning and wealth advisory business is poised for continued strong growth.
Brown brings more than 26 years of wealth advisory experience to his new role. Most recently he was Florida regional managing director at Wells Fargo Wealth Advisory. Prior to joining Wells Fargo, Mr. Brown was managing director of Northern Trust’s Wealth Advisory Services unit, which catered to clients with $20 million to $200 million in relationship balances. Brown previously spent 18 years at Bank of America/U.S. Trust as an advisor, and held senior leadership roles in community banking, brokerage, and wealth management.
“Florida is one of the country’s most vibrant regions, and Ted’s breadth of experience has given him a deep understanding of the unique needs of affluent individuals, business owners and families across the state,” said Bill Buccella, Wilmington Trust’s president of U.S. markets for Wealth Advisory. “We are committed to Florida as a key growth market, and dedicated to being a strong community partner. With Ted’s history of community involvement and his knowledge of the high-net-worth segment, we couldn’t have a more ideal leader marshaling our team of local and national wealth specialists.”
Brown holds a Bachelor of Science in Finance from Florida State University and an MBA from Barry University. He holds Certified Financial Planner (CFP®) and Certified Investment Management Analyst (CIMA®) designations.
Actively involved in the South Florida community, Brown serves on the Kravis Center Corporate Partners Executive Committee, as is the former president of the United Way of Martin County Foundation and the Board of Directors of the Boys & Girls Club of Martin County.
Wilmington Trust opened its first Florida office in 1983 in Stuart. It has since expanded across South Florida and now has offices in Palm Beach, North Palm Beach, Stuart, and Vero Beach.