Our people are staying. We're just proud that a firm started in Naples and has a national recognition and has clients in 45 states and 10 foreign countries has the opportunity to continue to service our clients. And a good chunk of our clients are Naples residents. He said the firm in the next week is moving from its current location at 3003 U.S. 41 N. to its new address at 8889 Pelican Bay Blvd. He said the move has nothing to do with the sale and has been in the works for a while.
Telecommunications are a critical part of brokerage money management.
Sherman said the Naples PCM office will keep its total autonomy, but by joining forces with Legg Mason it will have the potential to offer clients trust services. They realize this. Under terms of the agreement, PCM will become a wholly owned subsidiary of Legg Mason and will continue to be managed by its principals, both of whom will stay in place under long-term employment agreements. In our opinion, Bruce Sherman and Gregg Powers, together with the rest of the PCM management team, are some of the most talented individuals in the wealth advisory business and will enable us to significantly further our strategic objectives in wealth management. We look forward to working with them for a long time.