PFM’s Harrisburg Office Moving to Larger Diggs a Block Away

PFM, one of the nation’s leading financial advisory and asset management providers, is moving its Harrisburg offices over Presidents’ Day Weekend to newly renovated space about a block away.

The company will occupy five floors — more than 63,000 square feet — in the Manufacturers and Traders Trust Company (M&T Bank) building at 213 Market Street.  

More than 150 of PFM’s 650 employees work in Harrisburg, most of them within the asset management business.

“We need more space because we’ve grown a great deal since 2001. And we need space that’s better designed to support the way in which we now do our business,” said Managing Director Marty Margolis, who also serves as the PFM asset management team’s Chief Investment Officer.

When PFM moved into its current location in 2001, it had 40-50 employees. Those employees had moved from another Harrisburg location which they had outgrown. PFM used about a floor and a half and gradually expanded to three floors at its current site. The fourth and remaining floor of the building is unavailable, so PFM had to move to obtain more space. The new space is about double in size, allowing room to further grow and expand in future years.

The Harrisburg office serves as the central hub for PFM’s asset management business. All of the portfolio management for clients around the nation as well as the accounting, client service, compliance and much of the analytic work to support the business is done in Harrisburg. That accounts for about 125 staff. The remainder work within PFM’s financial advisory business.

The new office space in Harrisburg applies the same design concepts that PFM’s Philadelphia office implemented when it moved to its new location in 2016.

“It’s an open office layout. There are no big corner offices,” Margolis said. “Many more people will work in open work stations, a more collaborative setting. In addition to the need for more space, the desire to change the work environment was another important reason for wanting to move.”

Margolis has seen some big changes since the founding of PFM’s investment management business in 1980. When he started at PFM he was one of two people in his office. He says the use of technology has changed the business dramatically. When he started, buying and selling of investments for clients were done on the phone and tickets were written by hand. Now a trade goes from the mind of a portfolio manager to the bank to be settled electronically. But the size of the operation is an equally dramatic change. 

“In order to service a client well you have to be able to call upon the knowledge, resources and expertise of multiple people,” Margolis said. “In an asset management business of this size, any client is touched directly or indirectly by 15-25 people, many for just a smidgeon of their time and expertise. But you have to be able to do that. The culture in that sense has really changed over the years.”

PFM’s move commences Friday, February 16 with the first day of business occupancy Tuesday, February 20.

About PFM

At PFM, over 650 employees - asset managers, financial advisors and consultants - partner with clients in every region of the country to transform their world. We combine superior financial advice, disciplined management and ingenuity to build, power, move and educate.

PFM is the marketing name for a group of affiliated companies providing a range of services. All services are provided through separate agreements with each company. This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation.

For more information regarding PFM’s services or entities, please visit www.pfm.com. For important disclosure information please, visit www.pfm.com/disclosures.

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