A highly respected private banking team, previously advising on $4.5 billion in client assets at Bank of America, has taken a significant step forward in their career by joining Fidelis Capital. This independent wealth management firm, founded just one year ago by former advisors from Wells Fargo and Bank of America, has attracted top talent seeking more control and better opportunities for their clients.
Providing Tailored Solutions for Ultrawealthy Families and Institutions
The five-person team, known for their expertise in assisting ultrawealthy families and institutions, will establish a new Fidelis office in Washington, D.C. Comprised of Christopher Tate, wealth strategist; Michael Sellers, portfolio manager; Benjamin Hilyard, fiduciary specialist; Aaron Wall, portfolio manager; and Ashley Connor, client service associate, this team brings a wealth of experience and knowledge to their new roles.
Prioritizing Personalized Attention and Dedicated Service
Tate and Sellers, leaders of the team, shared their motivations behind this move. They expressed a strong desire to have greater control over the number of clients they serve and expand the range of services and investment options they can offer. By joining Fidelis, they will now limit themselves to 25 clients per advisor, enabling them to allocate more time and resources to each individual. In their previous roles, they were often burdened with upwards of 100 clients or more.
Fidelis Capital: A Unique Opportunity
Sellers emphasizes that the decision to join Fidelis was not made lightly. The team thoroughly evaluated other large banks, wirehouses, and registered investment advisory (RIA) firms but discovered that the challenges they faced at their former institution were systemic in the industry as a whole. The overwhelming number of clients assigned to a limited number of advisors was a recurring issue. Joining Fidelis presented a unique opportunity for both the team and their clients to break free from these constraints and offer truly personalized and comprehensive financial services.
Fidelis: Empowering Advisors with a Wide Range of Investment Solutions
Fidelis, a leading independent advisor firm, is revolutionizing the financial industry by providing its clients with a diverse range of investment options. While other firms are limited by their “narrow solution sets,” Fidelis offers a broader selection of investments and services to meet the unique needs of every client.
One of the key advantages of working with Fidelis is their ability to assist clients in obtaining loans. Unlike many other firms, Fidelis has access to multiple banks, allowing them to find the perfect loan solution for each client. Whether it’s a personal or business loan, Fidelis will explore all options until they discover the ideal fit for their clients’ requirements.
The team at Fidelis, including experienced professionals like Tate and Sellers, is part of a larger trend in the industry. Many advisors and private bankers have chosen to shift from big banks to the independent advisor sector. While they contemplated establishing their own Registered Investment Advisor (RIA), they were ultimately drawn to Fidelis due to its exceptional management team, comprised of individuals with extensive private banking experience.
For Sellers, who boasts two decades of experience in financial services, joining Fidelis represents a long-term commitment. As partners in the firm, Sellers and his team view this move as the final chapter in their careers. They are dedicated to providing top-tier service to their clients and ensuring their financial goals are met throughout their entire professional journey.
Since its establishment in August 2022 by former wealth advisors from Wells Fargo and Bank of America, Fidelis has quickly grown its presence. Alongside its headquarters, Fidelis also has offices in Dallas and Tampa. The firm’s advisors managed a staggering combined total of $6 billion in client assets at their previous employers.
While financial advisors typically face challenges when transitioning between firms, private bankers face even greater obstacles when attempting to retain their clients. However, Fidelis has successfully mitigated these challenges, and its assets under management (AUM) have reached an impressive $602 million, as reported in its latest Form ADV filed with the Securities and Exchange Commission.
Fidelis is redefining the financial services landscape by offering a vast array of investment options and exceptional client service. With its team of industry experts and dedication to long-term partnerships, Fidelis is poised to make a lasting impact on the industry for years to come.
