People Moves

Fidelis Capital Brings In $4.5 Billion Breakaway Team

Editorial Staff September 6, 2023

Fidelis Capital Brings In $4.5 Billion Breakaway Team

The US wealth manager said its recruitment of a team from a private bank is one of the largest such breakaway moves in years.

Fidelis Capital, a wealth management firm, has brought in a team of advisors from Bank of America Private Bank overseeing more than $4.5 billion of client money.

The team of five people, which has launched with an office in Washington DC, includes: 

-- Christopher F Tate, partner, wealth strategist; 
-- Michael J Sellers, partner, portfolio manager; 
-- Benjamin A Hilyard, partner, fiduciary specialist; 
-- Aaron J Wall, partner, portfolio manager; and 
-- Ashley Connor, client service associate. 

"The team represents one of the largest teams of wealth managers to leave a private bank in recent history,” Fidelis said in a statement.

The trend of advisors working at banks heading off to take a more independent, or "breakaway" path, is well established and this news service wrote about the topic a decade ago, here and here. 

Christopher Tate said Fidelis Capital “operates as an outsourced family office.”

Fidelis Capital has offices in Tampa, Dallas, and Washington DC.

Register for FamilyWealthReport today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes