A family owned business that specializes in selling municipal bonds to individuals of ultra-high net worth is on track to double its number of employees by the end of the year.
With an office in Mizner Park in Boca Raton and one in Manhattan, the boutique firm is in a growth phase of its own.
Stoever Glass & Co president Roland Stoever helped expand the business from New York to Boca Raton in 2016.
“It’s a great location, easy to get to,” he said of the Mizner Park office.
Many of the company’s clients are from South Florida and Boca made sense for the firm’s second location.
The business was started by his father Fred Stoever in 1964. At the time, not many firms were selling municipal bonds to individuals. Now, Stoever said he believes the company is the oldest and longest running firm to do so.
The firm employs about 50 people between the two offices and has a plan to increase the number of employees several times this year.
In addition to the municipal bonds, the company offers wealth management and insurance services. The services were added to assist clients as they aged with the firm to help with succession planning for their children and grandchildren.
“Many clients have been with us for 20-30 years and they are family members,” Stoever said. “There are clients who have been with us for generations.”
His favorite part of his job is building relationships with his clients and talking to different people every day.
“It is amazing to hear their stories,” he said of his clients.
Stoever splits his time between both offices. He currently lives in New Jersey with his family, but can be found in the Boca office regularly.
And three days a week his father Fred, 83, who started the business still shows up to work.
Stoever said he enjoys having his father around the office especially when he needs a history lesson on the financial market.
Stoever came on board in 1991 and said his career is all he has ever known. From the time he was 13, he was working on the training desk.
“It is all I have ever known,” he said.
In the company’s history it has never had a year in the red, Stoever said.
“Our goal is provide the best service and do a good job for our clients,” he said. “There is never a boring day,” he said.