Wells Fargo formally launched today Abbot Downing, a boutique wealth management firm for families with at least $50 million in assets.
The bank announced plans for the firm, which will merge Wells Fargo Family Wealth, Lowry Hill and the legacy Wachovia Calibre business, in November.
There will be offices in Charlotte, Raleigh and Winston-Salem. The mid-Atlantic region, which also includes Washington, D.C., will have about 70 employees, said Joe Freeman, who will head Abbot Downing in the region.
Abbot Downing will be defined by personal service, Freeman said. Each financial adviser will serve only 10 to 15 families.
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7 comments:
I was always impressed with US Trust, but wow, these people will have real personal banking!!!!
First the notice that a few doctors who seem to have forgotten their hypocratic oath are opening a "botique" medical practice, now this article touts the creation of a "botique" financial sub-firm.
The one percenters are back, baby, and if they can elect Romney and "take back" the Senate, the good times will roll once again! And would you commoners please get off their lawns and out of their gated communities. You kinda' smell bad.
Archuguy,
You mean the 1%ers like Taylor Batten and his million dollar house, or is it the gated community of Democrat Peter Gilchrist?
Nothing wrong with being rich. It's what you do with and because of your vast wealth, as well as how you obtained it, that either makes you a good guy or part of the problem.
Who would be the enemy if not for the rich?
For Archie the rich are only as good as they keep financing the party of the "poor." If they don't, they are the "evil" one-percenters
I see Abbot Downing is based out of Minneapolis. Wells Fargo was bought by a Minneapolis bank (Norwest) and its CEO is from MN. Interesting the institution still has so many ties to MPLS.
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