A group of former Wells Fargo and Bank of America private banking executives have launched a new wealth management firm in the United States, Fidelis Capital.
Fidelis Capital launches in the US
The new Advisor-owned firm will bring together more than 200 years of collective private banking experience from financial professionals who have advised on approximately $6 billion in client assets at previous employers.
Fidelis has teams based in Florida and Texas that are meant to cater to high net worth individuals and provide personalized access to investment and wealth management professionals. Wealth, property, tax planning. Personal risk management among other services.
Fidelis Capital co-founder and co-chief investment officer Neale Ellis says the private banking model has “changed dramatically” over the past few years. According to Ellis, the new company’s mission is to “provide ultra-high net worth families, institutions and other private banking customers with a team that can manage all, not some, of their financial affairs.”
The Dallas, Texas office will be run by former Bank of America Ellis and former Wells Fargo President Matthew Ellis.
The Tampa, Florida office will be led by Matthew Michaels, a 25-year financial services veteran, and Paul Ayotte, formerly of Wells Fargo.
Fidelis CEO Rick Simonetti spent 22 years at Wells Fargo Private Wealth Management as Senior Managing Director of the Southern Region and National Head of Wealth Planning.