Sanibel wealth advisory firm grows in central Fla.

SANIBEL — The Tampa Bay Trust Co., a division of the Sanibel Captiva Trust Co., acquired Winter Haven-based Craddock Family Office Inc., a wealth management firm that focuses on high-net-worth clients.

Sanibel Captiva Trust Co. is an independent firm with $1.35 billion in assets under management. The acquisition, according to a release, is designed to broaden the firm's central Florida presence.

F. Hood Craddock, founder of Craddock Family Office, was named an executive vice president and director of family office services. Craddock, the release adds, specializes in formulating wealth strategies for high-net-worth clients, often with significant land and agricultural assets. Craddock will retain his Winter Haven office.

“The addition of Hood to the team provides a significant added benefit for client families with complex special assets and estate planning needs,” The Tampa Bay Trust Co. President Terence Igo says in a release.

Craddock founded his firm in 2011. He was previously president of Lake Wales-based Latt Maxcy Corp., where he was responsible for operating results in investments, citrus, cattle and real estate. Prior to that role he was a partner at KPMG Peat Marwick in Tampa and New York City.

The Sanibel Captiva Trust Co. provides wealth management services to high-net-worth individuals, families, businesses, foundations and endowments. It was founded in 2001. Its divisions include The Naples Trust Co. and The Tampa Bay Trust Co.