Then there are the younger advisors in their 30s up north who are just kind of re-evaluating everything, he said. “They might have two kids and they are thinking, rather than commuting into New York City, it is time to make a change and investigate living in a milder climate and living in a more family-friendly environment.”
He said his team has done a good job of helping people grow their practices, and he noted that some of his advisors came on board because they wanted to grow their business faster.
St. Petersburg offers no shortage of attractions, he said. It has a vibrant financial presence and a great arts community, and the living is cheaper than it is in the Northeast. On top of that, he bragged, it has the Stanley Cup-winning hockey team the Tampa Bay Lighting; the Tampa Bay Rays baseball team, which played in this year’s World Series; and the Tampa Bay Buccaneers football team, where four-time Super Bowl champion Tom Brady decided he wanted to be for his later years. “So, it’s consistent,” Kilgroe said.
He said Covid-19 has not dramatically slowed business. His team has worked from the office since the launch, he noted, and because they occupy the entire 23rd floor of a large office building, they have been able to space themselves out and everyone is focused on wearing masks in common areas.
“The nice thing is we are prepared for expansion in terms of adding advisors or advisory teams,” he said, noting that in the meantime, they have more space than they need.
Kilgroe said they do not have a specific number in mind on how big they want to grow the firm. “We are going to be opportunistic, meaning we are going to evaluate the marketplace and evaluate the interest and then look to add people and advisors that fit our culture and fit who we are and who we want to be.”