Financial Services and Hedge Funds

 

Palm Beach County consistently remains among the nation’s leaders for business and financial services, providing a robust environment for success – from wealth management to banking and investment services; from investors to venture capital and corporate finance firms. Organizations requiring specialized business and financial expertise are drawn to Palm Beach County because of high industry concentration, proximity to peers, and even the location of competitors.

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It's been estimated that 60 to 70 asset management firms, including hedge funds, have opened offices in Palm Beach County within the past four years. There's approximately 233 financial services firms incorporated just in West Palm Beach. The migration of Northeast asset managers, hedge fund managers and other financial professionals to West Palm Beach, Fla., has continued at a steady pace, according to Financial Advisor magazine. It's considered 'Wall Street of the South'.  READ THE FULL ARTICLE >

 

Everyone is talking about it:

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FACT: Bloomberg Ranked Palm Beach #3 on the list for richest zip codes in the country with an average income of $1.25M.

 

PALM BEACH COUNTY OFFERS THE PERFECT CLIMATE FOR HEDGE FUNDS AND PRIVATE EQUITY FIRMS: 

  • No state personal income tax or estate tax
  • No corporate income tax on limited partnerships
  • No corporate income tax on subchapter S-corporations
  • No state-level property tax
  • Educated workforce, with access to Florida Atlantic University’s Bloomberg Terminal Internship Program students, as well as Bloomberg® terminals and industry experts
  • Abundant supply of affordable Class A office space with water views
  • Convenient direct flights from Palm Beach International Airport to New York, Chicago, Boston, and Hartford
  • Easy access to Latin and Caribbean markets
  • World-class lifestyle
  • Top-rated public and private schools
  • Wide array of homes in safe neighborhoods

 

Palm Beach County is home to the Flagler Financial District, South Florida’s premier urban corporate zone, exclusively dedicated to business and financial enterprise. Located in the City of West Palm Beach, the District offers a growing business and financial community with exceptional access to global wealth and international markets. West Palm Beach has been considered one of the top 25 cities to do business in America by Inc. Magazine.

 

Creating a new headquarters or a branch presence here impacts your image and brand with both clients and colleagues. Palm Beach County’s financial firms cater to corporations and affluent individuals, and support the growth of their national and international business enterprises. Investment and legal advice, tax planning, cash management, financing, insurance, customer support, banking and securities, and financial investment services are among the other readily available services.

 

Palm Beach County is filled with top-notch wealth management, corporate finance, accounting, legal, advertising, architecture and other professional service firms that benefit from one of the most favorable tax environments in the nation.  In turn, they provide the expertise needed for other industries to succeed.

 

View Why Companies are Moving to South Florida + Tax Savings Scenarios >

 

Palm Beach County firms cater to South Florida’s affluent corporations and individuals, and our diverse multilingual workforce allows these companies to serve regional, state, and global markets.  Professional service companies here recruit top talent from the area’s many MBA programs.

In addition to relocation and expansion assistance, the Business Development Board provides year-round support to the business and financial services sector through educational and networking programs.

 

In Palm Beach County, we know that education is key to economic success. Visit pbcedu.org to learn more about the 116 private and faith-based schools and 185 public k-12 schools located in the county.  

 

MORE TESTIMONIALS:

 

 

 

In the News:

 WALL STREET JOURNAL: In Florida, Homeowners Come for the Weather and Stay for the Taxes >

FOX BUSINESS: Florida Pulls in Billions Amid High-Tax State Exodus >

SOUTH FLORIDA BUSINESS JOURNAL: Retired Wall Street Financier Buys Bristol Palm Beach Condo for $13M >

FLORIDA TREND MAGAZINE: Palm Beach County Benefits From 2017 Federal Tax Cut >

SOUTH FLORIDA BUSINESS JOURNAL: Wall Street of the South; Flood of New Companies Raises Region's Global Business Profile >

PALM BEACH POST: More Than 30 Palm Beachers on Forbes' Billionaires List >

FOX & FRIENDS: Firms Escape High Taxes, Flock to Palm Beach County >

FLORIDA DAILY: High Earners Fleeing High Tax States for Sunshine State >

FOX 29 NEWS: Finance Companies Fleeing Northeast for Lower Taxes in Florida >

LIBERTY HEADLINES: 70 Financial Firms Flee NYC for Palm Beach County in Three Years >

FOX BUSINESS: Financial Firms Fleeing High-Tax Northeast for Billionaire-Packed Florida >

COASTAL STAR: Our New Neighbors; Refugee From High-Tax States >

BLOOMBERG: Florida is the Big Winner as the Wealthy Move Out of Northern States >

BLOOMBERG: South Florida Mansion Sales Surge as Tax Exiles Seek Savings >

SOUTH FLORIDA BUSINESS JOURNAL: Fast-Growing Wealth Advisory Firm to Hire Dozens in New West Palm Beach Office >

MONEY WISE: Palm Beach Ranked #3 as Richest Zip Codes in America >

THE REAL DEAL: Fund Managers are Feelin' Florida >

BLOOMBERG: Fund Managers are Ditching Wall Street for Florida >

THE STREET: Wall Street is Migrating to Florida for Low Taxes, Better Weather >

SOUTH FLORIDA BUSINESS JOURNAL: Big Money; Palm Beach's Quest to Become Wall Street of South >

ESTATE & MANOR MAGAZINE: Hedge Funds to Hedge Rows - Hedge Funds Moving to Palm Beach? >

SOUTH FLORIDA BUSINESS WEALTH MAGAZINE: South Florida is Hedge Fund Heaven >

THE REAL DEAL: Hedge Funds Flock to Palm Beach and West Palm Beach >

 

  

  

 

Red Carpet Services Offered by the Business Development Board of Palm Beach County

  • Site inventory and escorted tours of available class A office space with ocean views, personally conducted by our relocation and expansion staff.
  • Private tours of public and private K-20 schools with principals, headmasters and university presidents.
  • Tours of family friendly neighborhoods.
  • Information on grants, assistance, and financial incentives available through the State of Florida, Palm Beach County, and our 39 municipalities.
  • Assistance in finding quality workforce.
  • Introductions to elected officials and local business leaders including city and county commissioners, city mayors, county mayor, and delegates from Governor Rick Scott's office.
  • Review of available housing and cost of living data.
  • Demographics and labor market information.
  • Introductions to professional service providers such as: banks, law firms, employment agencies, and accounting firms.
  • Technical presentations tailored to company's specific location requirements.
  • Private introductions to philanthropic organizations, and art and cultural societies, based on your interests.

 

Palm Beach County Brochure: 
  

 




 

 

 

The Business Development Board is your one-stop, countywide resource for information on relocating or expanding your business to or in Palm Beach County. Our free, confidential services include help with permitting, incentive funding assistance, workforce development, research services, and site selection, as well as project management and connections to public/private resources.

Whether you are new to Palm Beach County or already established here, the Business Development Board is uniquely positioned to help your business take full advantage and leverage all the resources available to you. 



Want to chat with our financial services expert?

Tim Dougher

tdougher@bdb.org | 561.835.1008

 

 

Investors

#1 Palm Beach County Board of County Commissioners Aerojet Rocketdyne Bank of America Bank United Baptist Health South Florida
Caler, Donten, Levine, Cohen, Porter & Veil, P.A. CareerSource Centennial Bank DePuy Synthes Power Tools, a Johnson & Johnson Company Equestrian Center
Florida Crystals Corporation FPL Greenberg Traurig Gunster Hardrives, Inc.
HCA Palm Beach Hospitals Hedrick Brothers Construction Hospital for Special Surgery J.C. White JP Morgan Chase
LRP Publications Martens Group Minto Communities, LLC NCCI Nova Southeastern University
Palm Beach Aggregates, LLC Palm Beach Park of Commerce PNC Bank Pratt & Whitney (A United Technologies Company) Raymond James Financial Services/Boynton Financial Group, Inc.
RSM South Florida Business & Wealth Magazine South Florida Business Journal Stiles-Nicholson Foundation TD Bank
Tortoise Properties Wells Fargo & Company Wexford Capital