$4.5 Billion Private Banking Team Chooses Independence with Fidelis Capital to Solve Complex Issues for UHNW Clients

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Sep 05, 2023, 10:27 ET

The five-person wealth management team has over 70 years of collective experience serving individuals and families, family offices, and institutions

TAMPA, Fla., Sept. 5, 2023 /PRNewswire/ -- Fidelis Capital, an advisor-owned wealth management firm that provides a superior private banking experience, announces that one of the largest wealth management teams in the Mid-Atlantic region formerly with Bank of America Private Bank has joined the independent firm as partners. The team, which advises on more than $4.5 billion in client assets, was frustrated by the constant turnover and inability to provide solutions that they believed their clients deserved at the bank.

The five-person wealth management team launches with an office in Washington DC and includes:

Christopher F. Tate, J.D., Partner, Wealth Strategist
Michael J. Sellers, Partner, Portfolio Manager
Benjamin A. Hilyard AIF^®, CTFA, Partner, Fiduciary Specialist
Aaron J. Wall, CFA, Partner, Portfolio Manager
Ashley Connor, Client Service Associate

The team represents one of the largest teams of wealth managers to leave a private bank in recent history, choosing an option designed to better serve their clients over the platform constraints of a retail wealth management firm built on a brokerage or bank chassis.

"Fidelis Capital operates as an outsourced family office, which will provide tremendous value and support as we strive to help clients navigate financial complexity in their lives," said Christopher F. Tate, J.D., Partner, Wealth Strategist, Fidelis Capital. "Instead of the common industry practice of providing clients with access to one primary advisor, we surround families with a team of subject matter experts, who each specialize in a particular field and are in touch with the industry as a whole, to be able to seek out in-depth solutions to complex problems."

Christopher Tate most recently served as Wealth Strategies Advisor, Senior Vice President at Bank of America Private Bank. He holds a Juris Doctor (JD) degree from the Antonin Scalia Law School at George Mason University, an MA in International Transactions from George Mason University, and a BA from the University of Virginia.

"I have to say that Fidelis Capital's investment IQ is the best I've ever seen," noted Michael J. Sellers, Partner, Portfolio Manager, Fidelis Capital. "As partners in Fidelis, we will have access to the intellectual capital of some of the best wealth managers in the business as well as the freedom to choose the best solutions for our clients regardless of the provider. We couldn't be happier about this move."

Michael Sellers was most recently a Managing Director and Senior Portfolio Manager at Bank of America Private Bank, where he managed portfolios for both institutional clients and high-net-worth families. A financial services professional with 20 years of experience, he holds a BS in business administration from the University of Mary Washington, and an MBA, with a concentration in finance and investments, from The George Washington University. Additionally, he has completed coursework at the Aresty Institute of Executive Education at The Wharton School, University of Pennsylvania.

Benjamin Hilyard was most recently a Managing Director and Senior Trust Officer with the trust department of Bank of America Private Bank. Ben is a graduate of Connecticut College and has studied trust and estate planning at the Cannon Financial Institute, and finance at the Tuck School of Business at Dartmouth. He holds the Certified Trust and Fiduciary Advisor (CTFA) designation sponsored by the ABA Institute of Certified Bankers and is a member of the Washington, D.C. Estate Planning Council.

Aaron Wall was most recently a Senior Vice President and Portfolio Manager at Bank of America Private Bank in Washington, D.C. Aaron creates and maintains personalized investment strategies utilizing a broad range of wealth management solutions, including financial planning and risk mitigation strategies. He is a deep thinker and prolific author of thought leadership, communicating complex investment strategies into executable solutions. We are excited to leverage his skillset for the benefit of our broader Fidelis client base. Aaron obtained his BS in finance from Salisbury University and is a CFA^® charterholder.

The fifth member of the team is Client Service Associate Ashley Connor, who previously was a Portfolio Management Senior Associate with the team at Bank of America Private Bank. She is a graduate of Marymount University and has more than 12 years of experience in private banking.

"The fact that this outstanding team from Bank of America has chosen to join Fidelis Capital is indicative of the continued evolution of private banking and a testament to how Fidelis Capital is helping to change the private banking sector," said Rick Simonetti, Founding Partner, CEO, Head of Wealth Planning, Fidelis Capital. "As the founders of Fidelis Capital did, this team is making the transition to independence in search of an environment more amenable to the complex, ultra-high-net-worth wealth planning that their clients need."

As changes in the private banking world continue, Fidelis Capital remains at the forefront of change and will be positioned as the face of how the industry is evolving.

About Fidelis Capital
Fidelis Capital is a wealth management firm that provides a true private banking experience. Founded by former private bankers from Wells Fargo and Bank of America, Fidelis Capital is the first wealth management firm started by principals from rival institutions. Fidelis Capital has offices in Tampa, FL, Dallas, TX, and Washington D.C. For more information, visit www.fideliscapital.com.

CONTACT:
Michaela Morales
JConnelly
973 224 7152
[email protected]

SOURCE Fidelis Capital