Fidelis Capital Adds 13th Partner as $3 Billion RIA Expands Without Private Equity
Updated
Updated · Wealth Management · Jul 31
Fidelis Capital Adds 13th Partner as $3 Billion RIA Expands Without Private Equity
1 articles · Updated · Wealth Management · Jul 31
Summary
Fidelis Capital added its 13th partner in July, extending a hiring push the firm says is meant to pair wirehouse-scale expertise with boutique client service.
The nearly $3 billion RIA says that model is built on advisers and specialists recruited from Wells Fargo, Bank of America Private Bank and other large institutions, allowing it to offer outsourced family office-style planning.
About 70% of Fidelis is owned by co-founder Rick Simonetti and a small group of advisers, with clients holding the remaining 30%; new partners receive phantom-interest awards tied to firm growth rather than current equity.
Founded in August 2022 by breakaway wirehouse teams in Dallas and Tampa, Fidelis says it chose to self-fund instead of taking the larger checks now common in the RIA market and is focused on succession over private-equity capital.