Fifth Third expands further in North Carolina with $1.8B Truist team

Fifth Third Wealth Advisors has expanded its presence in North Carolina yet again with the addition of a new advisory team in Winston-Salem.

The three advisors, who previously managed $1.8 billion in assets at Truist Advisory Services, are Jonathan Cochrane and Spencer Huggins, both managing directors, and Shannon Shelton, a relationship manager.

“It’s my pleasure to welcome this team of committed and proven professionals to Fifth Third Wealth Advisors,” Eric Housman, president of Fifth Third Wealth Advisors, said in a statement Monday. “With more than 55 years of collective experience, their expertise and unwavering dedication will further elevate our capacity to serve clients.”

This expansion comes on the heels of another announcement earlier this month, in which Fifth Third welcomed three new advisors, including two in a new Charlotte, North Carolina location. The three-advisor team previously managed $2 billion at TIAA-CREF.

Fifth Third Wealth Advisors now operates two offices in North Carolina as part of its broader Southeastern growth strategy.

Launched by Fifth Third Bank in 2022, Fifth Third Wealth Advisors, provides advisors with office space, an mult-custodial investment platform, technology, and operational support. Advisors also have access to trust services, credit, and planning through the bank, with Fidelity serving as the custodian.

The firm, which positions itself as an ideal destination that combines independent boutique culture with large institutional support from a storied regional bank, now has ten advisory teams across seven states, with offices in Florida, Georgia, Illinois, New York, North Carolina, Pennsylvania, and Texas. While these teams are based regionally, the firm emphasizes its ability to serve clients regardless of geographic location.

The multi-custodial RIA continues to grow its national presence, providing wealth management and investment services to high-net-worth clients.