Wealthy families are increasingly splitting their time across multiple domestic residences and international destinations. As this migration pattern becomes more fluid, wealth advisors are shifting their service models to prioritize frequent, in-person travel to meet clients where they live, rather than relying solely on virtual communication.
Advisors Traveling to Maintain Personal Connections
The definition of a seasonal client has evolved, with many families now spending six or seven months in Florida, while splitting the remainder of their year between the Northeast, Midwest, and abroad. Jason Stephens, founder and managing partner of the Naples, Florida-based multifamily office Evertern Wealth, noted that his firm’s service strategy must follow the family’s movement.
"Our job is to be available wherever their lives take them," Stephens said. While technology facilitates daily tasks, he maintains that video conferencing cannot replace the value of sitting across the table from a client to discuss important planning decisions, family meetings or opportunities to bring the next generation into the conversation.
This sentiment is echoed by firms across the country. At Maine-based Great Diamond Partners, managing partner Helen Andreoli reports that her team will travel as much as three weeks at a time to check in on clients at their second homes. For OpenArc Corporate Advisory, managing director and senior wealth management advisor Blake Anderson says his team travels regularly to Florida, the Carolinas, California and other seasonal markets to conduct reviews and connect with family members, viewing these trips as essential to maintaining deep, long-term relationships.
Shifting Migration Trends and Domicile Planning
While the volume of migration has cooled from its 2022 peak, the movement of wealthy individuals remains a significant factor for advisory firms. According to Census Bureau estimates analyzed by the University of Florida, Florida added 201,191 residents through domestic and international migration in 2025, a decrease from the nearly 599,000 recorded in 2022.
This ongoing movement requires advisors to stay deeply involved in their clients’ tax and legal structures. Firms often provide support by modeling the tax consequences of changing states and coordinating with estate attorneys and tax accountants. Because state residency rules for domicile remain a planning priority, advisors must frequently act as the central point of contact for a client’s broader advisory team to ensure legal and financial compliance when a client shifts their permanent home.
Scaling Presence Through Existing Client Clusters
Most firms are cautious about opening permanent offices in new markets, preferring to let client behavior dictate expansion. Stephens explained that Evertern Wealth views permanent locations as a potential final step that only occurs once a firm has established enough existing relationships, referral activity and prospective clients in a specific region.
"We have found that the best expansion opportunities generally come from following our clients rather than selecting a market on a map and trying to manufacture a presence," Stephens said. By clustering meetings around a single trip, firms can service multiple clients efficiently without the overhead of a permanent branch. Other firms, such as Great Diamond Partners, have considered establishing a temporary presence over the first few months of the year to better accommodate the schedules of clients who migrate annually, but they continue to manage their primary operations from a single home base.
Frequently Asked Questions
Why do advisors choose to travel instead of relying on virtual meetings?
Advisors state that complex planning, such as estate coordination or involving the next generation in wealth discussions, requires the nuance and trust built through in-person interactions. While video calls are used for immediate needs, firms like Evertern Wealth and OpenArc Corporate Advisory prioritize face-to-face meetings to strengthen long-term relationships.
How do firms decide when to open a new office?
Expansion is typically driven by the density of existing client relationships rather than speculative market entry. Advisors look for sufficient existing relationships, referral activity and prospective clients in a market before committing to a permanent physical presence in a new state.
How does the current migration pace compare to previous years?
The migration wave has cooled. Based on University of Florida research regarding Census Bureau data, Florida saw an influx of 201,191 residents via domestic and international migration in 2025, a drop from the 2022 high of nearly 599,000.