Florida Outlook Weekly “FLOW”.
Weekly Financial Summary of Florida
Oct 20th 2025 — Florida’s financial sector saw fresh adviser moves, landmark deals and evolving insurance trends this week, underscoring the Sunshine State’s status as a rapidly growing hub for wealth management and financial services.
Carnegie Investment Counsel deepens Florida footprint. Cleveland‑based Carnegie Investment Counsel announced it has acquired AHL Investment Management, a wealth‑management firm in Florida founded by Rick Ahl. AHL manages roughly $220 million in client assets and operates with a two‑person team. The acquisition, effective Oct. 1, 2025, brings AHL’s client‑first philosophy and specialized expertise into Carnegie’s $7 billion RIA platform and expands the firm’s presence in the high‑growth Florida market.
Golden State adds Topwater Capital to its network. On Oct. 15, Golden State Equity Partners welcomed Colton Lightner, founder of Topwater Capital in Osprey, Florida. Lightner, a Certified Financial Planner and Accredited Investment Fiduciary, will custody client assets with Raymond James while tapping Golden State’s business resources. He founded Topwater after working at local firms and provides business planning and comprehensive financial strategies for foundations, nonprofits, retirees and families. Golden State CEO John Nahas said Lightner’s community ties and fiduciary commitment align with the RIA’s mission.
Elevation Point stakes Palm Beach–area RIA. Emigrant Partners–backed Elevation Point took a minority, non‑voting stake in Loxahatchee Capital, a Palm Beach County practice led by Andrew Plum and Thomas Cullen. The former UBS team, now operating independently, manages about $1.4 billion and will use Elevation Point’s platform to fund long‑term growth.
Property‑insurance reforms show results. The Florida Property Insurance Market Pulse report (Oct. 13) underscores stabilization after 2022–2023 tort reforms. Private insurers have assumed 970,000 Citizens policies since 2023, cutting Citizens’ exposure by $418 billion. Rate filings indicate the average homeowners’ rate request is now –1.4 % (30‑day) and –0.3 % (180‑day) versus 8%+ increases two years ago; 33 companies have filed for rate decreases and 45 for no change since Jan 2024. Reinsurance costs have fallen 10.7 % this year, and top auto insurers reported average rate reductions of –6.5% with some cuts as high as –11.5%.
Lawmakers propose competing insurance fixes. As the 2025 session nears, Florida lawmakers introduced divergent proposals to lower property‑insurance costs. Democratic bills (SB 30, SB 78) would empower the state insurance consumer advocate, require mediation before lawsuits, protect whistleblowers and make storm‑resistant upgrades tax‑free. Republican proposals focus on reducing or eliminating property taxes to ease homeowners’ expenses. Both sides aim to submit measures for the 2025 ballot.
My Safe Florida Home’s mixed results. Program director Steven Fielder told lawmakers that more than 40,719 homeowners have received grants since 2022, yet only 20,995 reported lower premiums; 12,154 saw no change and 5,520 saw increases. Fielder said average savings were $938 in 2024 and noted that the new prioritization rules approved 4,216 grants for low‑ and moderate‑income homeowners this year.
Private flood insurers benefit during shutdown. WUSF reported that the federal government shutdown, which paused the National Flood Insurance Program, spurred more business for private insurers. Aon Edge CEO John Dickson said his firm experienced an “incredible increase” in quotes, while Neptune Flood CEO Trevor Burgess noted that AI enables property‑specific underwriting. Consumer advocates caution that private insurers may cherry‑pick low‑risk homes, leaving the federal program with the riskiest properties.
About this report: This weekly summary highlights major deals, adviser moves, policy developments and market data for Florida’s wealth‑management and insurance sectors. For questions or media inquiries, please contact the author.
