Florida Outlook Weekly “FLOW”.
Weekly Financial Summary of Florida
Oct 6th 2025 — Florida’s financial services sector experienced a series of notable moves and upbeat sentiment last week, reinforcing the state’s reputation as a fast‑growing hub for wealth management.
Advisor movement builds momentum for Raymond James. Vero Beach advisors Paul A. Williamson and Matt Hamilton departed Commonwealth Financial Network and joined Raymond James’s independent channel. The four‑person team (Williamson, Hamilton, and their staff) managed about $200 million in client assets and cited the firm’s resources and flexibility as key reasons for the switch. Their move continues a pattern of Commonwealth teams migrating to Raymond James, underscoring Raymond James’s appeal among advisors seeking autonomy and technology support.
Ashton Thomas expands in Sarasota. On Oct. 1, Ashton Thomas Private Wealth, a subsidiary of Arax Investment Partners, announced the acquisition of Sarasota‑based Day Hagan Asset Management and Day Hagan Private Wealth. The deal brings approximately $1.5 billion in client assets and elevates co‑founder Don Hagan to chief investment officer of Ashton Thomas. Team members Arthur Day, Regan Teague, and Natalie Brown will join Ashton Thomas; the partnership aims to expand resources and provide enhanced investment capabilities.
Mid Penn’s Florida entry. Continuing a trend from late September, Pennsylvania‑based Mid Penn Bancorp confirmed plans to acquire Sarasota’s Cumberland Advisors, a fee‑for‑service investment management firm founded in 1973. The transaction will add $3.3 billion in assets under management and roughly $9 million in annual revenue. Cumberland will operate under its own name within Mid Penn and marks the bank’s first expansion into Florida.
Business confidence stays high. The Florida Council of 100’s Q3 CEO Economic Outlook Index registered 91, significantly higher than the U.S. Business Roundtable’s national index of 76. Florida CEOs reported stronger expectations for employment growth (score of 87 vs. national 37) and capital spending (85 vs. 77), illustrating robust optimism for hiring and investment over the next six months.
Credit union expansion signals retail banking growth. USF Federal Credit Union announced plans to open its first branch outside Tampa Bay. The Winter Park location, slated for spring 2026, will feature a modern design with flexible service areas and digital tools to simplify money management.
These developments highlight Florida’s dynamic financial ecosystem—from advisor transitions and M&A activity to broader economic optimism and retail growth. They collectively underscore the state’s increasing draw for investors, advisors and financial institutions.
