A group of private bankers who advised on almost $6 billion in assets at the private banking arms of Wells Fargo and Bank of America have formed Fidelis Capital, an adviser-owned registered investment advisory firm with teams in Tampa, Florida, and Dallas.
Neale Ellis, the firm’s founding partner and co-chief investment officer, was formerly a managing director and senior portfolio manager at Bank of America Private Bank, formerly US Trust, where he helped found and co-manage the firm’s managed active core portfolio for nine years.
"In the past few years, the private banking model has changed drastically," Ellis said in a statement. "With the launch of Fidelis Capital, we are on a mission to revive the access to a team of experts and give ultra-high-net-worth families, institutions, and other private banking clients the kind of team that can manage not some, but all of their financial matters, giving them back what money can't buy — time!"
Rick Simonetti, the firm’s chief executive, spent 22 years at Wells Fargo Private Wealth Management,
The firm’s adviser team is led by Matthew Michaels, a top-ranked portfolio managers at Wells Fargo, and Paul Ayotte, who spent 18 years at Wells Fargo Private Bank as a wealth adviser.
Morgan Stanley sought to claw back recruiting bonus money from Darryl Cohen.
Referrals from centers of influence may open the door, but the real key to success for advisors comes from clarity about their ideal clients and where they want to show up.
Three advisor groups overseeing more than $700M in combined client assets head to new firms.
New research finds most Americans fear a US retirement crisis, while skepticism grows toward AI financial advice and crypto in retirement plans.
Getting a client into a fund has never been easier – but after that, the hardest part is yet to come.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
