NEW YORK, Jan. 23, 2023 (GLOBE NEWSWIRE) — TAG Associates, a $9 billion multi-family office and portfolio management services firm, today announced that the firm is opening an office in South Florida in its first significant geographic expansion outside of New York since its founding 40 years ago. The office will be located in West Palm Beach.
“As ultra-high net worth individuals and families of all ages and backgrounds continue to migrate to Florida, we have increasingly been investing time and effort toward supporting them there,” said David Basner, TAG’s Chief Executive Officer. “A Florida office will give us a presence in a substantial and growing market. This is a natural extension of our business and will provide us with ease and proximity to advise existing and new client relationships.”
Jonathan Bergman, TAG President, who is overseeing the launch of the Florida office, will divide his time between New York and West Palm Beach. The firm intends to increase the office staff in the coming months.
TAG’s platform, offering comprehensive and customized wealth management services to families with more than $10 million of investment assets, will enable it to stand out in a crowd of banks, brokerages, and less specialized wealth managers in Florida.
“Florida is the fastest growing market for ultra-high net worth individuals and families,” Mr. Bergman said. “We see an opportunity to put down our own roots, tap into a market with few true multi-family office options, and grow our rapidly expanding business in the Sunshine State.”
TAG Associates is an independent, privately owned wealth management firm offering investment management and family office services to individuals, families, endowments and foundations with substantial assets. As one of the first multi-family offices, TAG Associates pioneered the integrated, objective fiduciary model. Since that time, the firm has established itself as a leader in the wealth management business, with more than 70 employees serving over 110 high net worth families. TAG manages more than $9 billion in client assets. TAG has received numerous industry awards, including the 2021 and 2022 Private Asset Management Awards for Investment Due Diligence.