The firm has also added team members, widened service offerings, and built out its private investment access company.
Verdence Capital Advisors, a US wealth advisor, is renaming the brand for its family office division, calling it Verdence/FAMILY.
This business segment’s client assets rose by more than 200 per cent in 2020 and is on track to rise even faster this year, Verdance said in a statement. It said the number of family offices clients has expanded three-fold in the past two years. (This news service has sought more detail and may update in due course.)
The firm appointed Mike Harris last August – based in Baltimore - to lead the Verdence/FAMILY business.
“One of our core philosophies in managing Verdence is to grow our capacity well ahead of our needs. Our growth should be an ongoing benefit to our clients, rather than strain our service to clients,” said Leo Kelly, founder, CEO and partner with Verdence. “The formal branding of Verdence/FAMILY signals to the market that Verdence is committed to significant investments to our family office practice.”
The firm has also added team members, widened service offerings, and built out its private investment access company, Independent Access Partners.
Besides its Baltimore presence, the firm also has an office in northern Virginia. Overall, Verdence oversees $3 billion of client money.