UBS $1.2 Billion Wealth Team Breaks Away to Open Firm in Florida
June 17, 2020
By Suzanne Wooley
Matt Kilgroe and his team have left UBS Group AG, where they managed $1.2 billion in client assets, to start Cyndeo Wealth Partners in his hometown of St. Petersburg, Florida.
Kilgroe, 54, spent 21 years at Merrill Lynch before moving to UBS in St. Pete, where he worked for eight years. While Cyndeo has a number of old land-owning Florida families as clients, its seven advisers also work with corporate executives, business owners and professional athletes in about 40 U.S states, he said.
“The reason for the move was a combination of succession planning and looking at the younger generation,” Kilgroe said in an interview. “Whether it’s social media or podcasts, from a marketing standpoint it’s night and day in terms of what you can when do you’re on your own versus being in a wirehouse.”