Bernstein names new head of UHNW wealth strategies group

Bernstein Private Wealth Management has appointed Ashley Velategui as head of its wealth strategies group, the firm announced Monday.

Velategui, who has been with the firm for 18 years, stepped into the role effective May 9. She will lead a team of financial professionals focused on advising high net worth and ultrahigh net worth clients across the US on areas such as financial planning, philanthropy, tax strategy, and implementation of investment plans.

She will report to Alex Chaloff, head of investments and wealth strategies.

Based in Seattle, Velategui succeeds Tara Popernik, who is leaving the firm to pursue a new opportunity after more than two decades at Bernstein.

“[Velategui's] extensive experience and dedication have been instrumental in driving the rapid growth of our West Coast markets,” Chaloff said in a statement announcing the moves. “Her appointment will enable us to further accelerate our wealth strategy business and help our clients to achieve their wealth goals partnering with our wealth advisors nationwide.”

Velategui joined Bernstein in 2007 and has been part of the wealth strategies group since 2011. In 2023, she was named national director of planning research, where she led the training and development of the firm’s analyst team. She also played a key role in advancing Bernstein’s Wealth Forecasting System, a proprietary planning tool used in client engagements.

“I look forward to continuing to help grow our platform and working with our wealth advisors to help clients navigate the complexities that come with having significant wealth,” Velategui said.

In announcing the leadership change, the firm also acknowledged Popernik’s contributions.

“We express gratitude for Tara's contributions to Bernstein over her 20-plus-year career and for the success she has brought to clients,” Chaloff said. “We wish Tara great success in the next chapter of her career and future endeavors.”

The move is part of a broader leadership expansion at Bernstein Private Wealth Management, a unit of AllianceBernstein, which is based in Nashville. In early 2024, Bernstein promoted Blake Poole and Kristine Wexler to managing director roles in Tampa and San Diego, respectively, to strengthen its presence in key markets.

Last July, it elevated two of its principals, Amy Botkin and Ben Moscowicz, into managing directors to lead its Atlanta and Miami growth efforts, respectively. In September, Berstein also unveiled a new office location at Hudson Yards in New York City, touting the move as a significant milestone in its nearly 60-year history.

Earlier this year in January, it appointed Christopher Steele as director of its Institute for Trust and Estate Planning, while hiring Evelyn Vigistain as an investment strategist with a focus on Global Families.

As of Q1 2025, Bernstein reported managing $137 billion in assets, while AllianceBernstein had $785 billion in total client AUM.

AllianceBernstein has stated plans to double its assets under management in the ultra-high-net-worth segment over the next five years, part of a broader strategy to expand its client base and services in private wealth.

Author's note: This story has been updated to reflect AllianceBernstein and Bernstein Private Wealth Management's most recent AUM figures as of Q1 2025.