SanCap Group Inc., the holding company of The Sanibel Captiva Trust Company and its divisions, The Naples Trust Company and The Tampa Bay Trust Company held the 23rd Annual Shareholders’ Meeting Wednesday, March 20 at the Mariott Sanibel Harbor Resort & Spa in Fort Myers. The meeting attracted nearly 100 guests consisting of clients, employees and board members, and the company’s legal and insurance advisors.
The meeting covered economics, investing and other broad financial issues, as well as strategic new hires and company news. SanCap Group’s Founder and Chairman S. Albert D. Hanser opened the meeting by emphasizing the importance of client services and client satisfaction demonstrated by the company’s exceptional client retention rate of 98%. He also lauded the work of longtime employees Cherry Smith and Steve Greenstein in Wealth Services and in-house fiduciary counsel, David Port, J.D., all of whom recently retired. “We are grateful for the dedication of these retirees who have been an integral part of the company’s quality and growth over many years,” said Hanser.
Chief Executive Officer, Terence M. Igo applauded the organization’s nearly 60 employees for an outstanding job in 2023 of serving both clients and community organizations while navigating a “bumpy” market and keeping expenses in line. “We’ve been balancing growth with client services and managing significantly increased interest and participation in Family Office Services across our corporate footprint,” said Igo.
Chief Operating Officer, Ian Breusch, CFA, spoke about several projects undertaken in 2023 to scale efficiencies across the company, including profitability, marketing efforts and service delivery, additional fiduciary services, and clarity of roles and responsibilities across the team. Breusch introduced several new strategic hires and an equal number of team members who were recently promoted. “Career opportunities are strong at The Trust Company,” said Breusch, “and we are pleased to have a breadth of talent to serve our clients now and into the future.”
Next, CFO Beth Weigel spoke about the approximately 500 client relationships and related accounts that The Trust Company services. She also touched on meeting client needs through the remodeling and expansion of existing offices in Tampa, Belleair Bluffs, Tarpon Springs, and the new Sanibel office, as well as the establishment of a brand-new market and 10,000 square foot office in Fort Myers at Bell Tower.
When highlighting assets under management, Weigel stated, “We ended 2023 with a little more than $4 billion and now we have passed $4.2 billion. That’s a healthy increase to start 2024, so the organization is off to a great start.” She said they have exceeded goals, assets under management, and overall revenues and net income.
Guests also heard several heart-felt stories provided by four local market presidents: Michael R. Dreyer, CPA, Tampa; Jeff Muddell, MBA, CFP, Sanibel; Megan Marquardt, CFP, CTFA, Fort Myers; and West McCann, CFA, Naples.
These market leaders spoke about the connections their teams have made with clients, not just with wealth management, but on a personal level. Clients have been helped with a ride to their doctor’s office, carrying and putting away groceries, assisting with relocation and more. Loved ones who are out of state often call a client’s team members at The Trust Company to ask them to assist a parent or parents with all kinds of issues, which they are happy to do.
Dreyer talked about how gratifying it is to witness first-hand the generosity of team members who will come together across the company to help a client. “Whether the client is from a large, complex family or just has a simple task and needs a friendly voice who knows their situation, I’m always impressed by that personal effort.”
During their presentations, presidents Muddell and Marquardt both expounded on the strength and character of their teams, while working out of temporary offices for 18 months until their new buildings on Sanibel and in Fort Myers were ready for business. Both offices have just opened and are substantial assets to the community.
Naples President West McCann announced he is stepping down from his role effective April 1 to serve as Naples Market Executive to focus on business development and portfolio management. Billie Ann Porter, CFP, CTFA, is assuming the leadership role in Naples. Porter had served as senior vice president, senior trust officer in Naples with significant experience in the trust industry.
Finally, board member and former Tampa Mayor Pam Iorio spoke about the consistent growth of the company, which she attributes to the company’s strong culture and always doing the right thing. Iorio said, “Al’s mantra is to always put the clients first, always care about the families we serve, always make sure we help people and families through the difficult times in their life.” She added that regardless of what happens in the world, the company has continued to grow because it puts people first.
For more information about The Sanibel Captiva Trust Company and its services visit www.sancapgroupinc.com.
