Fidelis Capital, which will cater the select ultra-high-net-worth clients, has a diverse team of financial specialists to know each client personally to best meet their financial needs

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Private bankers from Wells Fargo and Bank of America partner to launch Fidelis Capital (Credit: mohamed Hassan from Pixabay)

Former private bankers from the financial services provider Wells Fargo and Bank of America have collaborated to launch an advisor-owned wealth management firm, Fidelis Capital.

The new entity aims to provide a superior private banking experience for clients by surrounding them with a diverse team of financial specialists who get to know each client personally in order to best meet their financial needs.

The two teams based in both Tampa, Florida and Dallas, Texas are said to cater to the select ultra-high-net-worth clients through Fidelis Capital.

Fidelis Capital founding partner and co-chief investment officer Neale Ellis said: “In the past few years, the private banking model has changed drastically.

“With the launch of Fidelis Capital, we are on a mission to revive the access to a team of experts and give ultra-high-net-worth families, institutions, and other private banking clients the kind of team that can manage not some, but all of their financial matters, giving them back what money can’t buy—time!”

At their former employers, Fidelis Capital’s experienced team of experts have offered thoughtful counsel and advised on approximately $6bn in client assets, claims the wealth management company.

Fidelis Capital is expected to provide each client with a customised suite of services, including access to experts in investment and speciality asset management, bill pay and reporting, fiduciary lending services, business transition advisory services, wealth, estate, and tax planning and personal risk management.

With the launch of Fidelis Capital, the two teams from financial institutions are expected to bring more than 200 years of collective experience working at private banks and in the financial industry.

Fidelis Capital founding partner and co-chief investment officer Matthew Michaels said: “Collectively we have 200 years of private banking experience and understand that the best way to serve clients is to invest in the specialists that surround those clients with the expertise they need and ensure they have access to the latest technology, the best investment solutions, and other critical tools out there.

“We are committed to partnering with the best specialists across the industry that can help us bring to bear solutions that help our clients in all aspects of their financial affairs.”

Matthew Michaels and Paul Ayotte lead Fidelis Capital’s Tampa office advisor team.

Michaels is a 25-year financial services professional and is said to be one of the top-ranked portfolio managers at Wells Fargo. Paul has more than 24 years of experience, with the most recent 18 years at Wells Fargo Private Bank as a wealth advisor.

The Dallas office is operated by an asset management team including co-chief investment officer Neale Ellis and president Matthew Ellis. Both are founding partners, and relationship manager Libby Castle.

Before establishing Fidelis Capital, Neale Ellis was a managing director and senior portfolio manager at Bank of America Private Bank (formerly US Trust)

With 24 years of experience in the financial industry, Matthew Ellis was most recently managing director at Wells Fargo Private Bank.