Biz Buzz shares business tidbits from across the tri-states. In addition to this update from Dubuque, we will feature other local business developments in Tuesday’s edition.
After 25 years in the same downtown location, a Dubuque financial planning firm is preparing to move to the Millwork District.
Steele Capital Management, currently located at 788 Main St., will move to The Dupaco Voices Building at 1000 Jackson Street early next year. Construction on the new space is already underway and officials anticipate Steele Capital Management will occupy the structure in April.
Steele Capital Management was founded in 1996 and has operated out of its Main Street location ever since. The impending move comes amid other noteworthy changes at the firm.
Michael Doyle, currently the vice president of advancement and treasurer at Loras College, will formally take over as the firm’s president on Dec. 31. In that role, he will report to CEO Mike Steele.
Doyle, who already is working in limited capacity with Steele, said the move to a larger space is a necessity as the company moves forward.
“In the space we’re in right now, we are full,” Doyle said. “We plan to grow, both in terms of employees and assets under management and we know that, in order to do that, we need a new space that provides that room for growth.”
Steele Capital Management currently has $2.7 billion in assets under management and employs a dozen people in Dubuque, as well as eight outside representatives in markets throughout the Midwest.
The arrival of Steele Capital Management will mark another significant development in the evolution of what was once known simply as the Voices building.
In early 2019, Dupaco Community Credit Union announced plans to invest roughly $37 million into the redevelopment of the structure, located at the corner East 10th and Jackson Streets. The building now serves as Dupaco’s operations center, and employees began occupying the facility in December.
Dupaco Chief Marketing Officer David Klavitter said he’s excited for Steele to join the space.
“I’m glad another entity can realize the vibrancy that this space will add to their business,” he said. “There’s nothing else like it. And if somebody wants to propel their business forward, this is the place to do that.”
Doyle confirmed that the Steele building at 788 Main St. has been sold but did not provide specifics on the future of the structure. He noted that Steele Capital Management will remain at that facility until it is ready to move to the Millwork District location.