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SARASOTA — Global Financial Private Capital, an SEC-Registered Investment Adviser firm with more than $3 billion in assets under management, plans to double its employee base to 150 people in the next five years.
Global Financial, according to a release, also plans to move its Sarasota headquarters from an office downtown to a complex off Fruitville Road, just west of Interstate 75 in the Gateway Professional Center. Global Financial, which provides wealth management services for institutional and individual investors, is one of several firms to recently sign new or renewed leases in Gateway.
“Our rapid growth has been exciting and more space is critical to continue to support that growth,” Global Financial CEO and co-founder Mike Dixon says in the statement. “With help from many of our partners we are outfitting a space to truly reflect the core values on which we founded and have built Global Financial.”
Priorities for the new office, says Global Financial President Geoffrey Frazier, include building an open workspace with creative and collaborative areas for all departments. The space could be ready by early 2015.
The project includes government incentives: Sarasota County commissioners approved a $225,000 performance-based incentive grant that Global Financial can receive if it hires the 75 people over five years at an annual starting wage of at least $43,304. Commissioners approved the grant, $3,000 per job, in September.
Dixon co-founded Global Financial in 1994 and the firm has expanded significantly in the past three years. Assets under management, for example, are up 150% from 2011, from $1.24 billion to nearly $3.11 billion in 2013. The firm's payroll has grown even faster, from 25 in 2010 to 106 by the end of 2013 — a 324% increase in employees. The firm made Forbes magazine's 2013 list of the fastest-growing Registered Investment Adviser firms in the country.
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