Business and community leaders gathered for the 29th Frank G. Berlin, Sr. Small Business Awards, presented by the Herald Tribune Media Group. Three finalists were selected across five categories: Hospitality and Tourism, Non-Profit, Products and Services, Retail and Professional Services. Cumberland Advisors was selected as the winner within the Professional Services category. From the five category winners, an overall winner was selected. A standing ovation greeted the announcement of the 2019 Frank G. Berlin, Sr. Overall Small Business of the Year—Marie Selby Botanical Gardens.
Since relocating the firm’s headquarters to Sarasota in late 2009, Cumberland Advisors has experienced significant growth in personnel and assets under management. In the fourth quarter of 2009, the firm employed approximately 20. Now, over 40 employees comprise the Cumberland team of investment professionals and administrative staff. As of December 31, 2009, client assets totaled $1.36 billion. The firm’s assets under management grew by 141% reaching an all-time high of $3.28 billion for the period ending March 31, 2019.
When surveying Florida cities for relocation from New Jersey, Cumberland’s management team was drawn to Sarasota for its rich cultural heritage, an airport offering connections to cities across the country and a top-performing public school district. In an effort to contribute and sustain those aspects of the community which originally attracted Cumberland to the Suncoast, the firm has worked to form partnerships with the region’s leading nonprofit and educational institutions. In April, Cumberland and USF Sarasota-Manatee jointly hosted the third annual Financial Literacy Day, bringing together national and local authorities for high-level conversations on the financial markets, central banking and philanthropy.
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