People Moves: RIA Fidelis Capital Adds Bank of America Equity Strategist
Fidelis Capital has brought on Herb Achey as a partner to head investment strategies for its ultra-high-net-worth client base. Achey moves to the Tampa-based firm after a thirty-year career at U.S. Trust and Bank of America Private Bank. During his tenure there, he managed assets totaling more than two billion dollars and specialized in the needs of large family offices.
Founders Neale Ellis and Rick Simonetti established Fidelis Capital in 2022. The firm has grown to reach nearly three billion dollars in assets under management. Simonetti noted that the firm will look to Achey for his technical knowledge regarding single-stock concentration management and identifying market trends for complex family wealth structures. While Achey holds no direct equity in the firm, he will participate in the company growth through a phantom equity arrangement.
This move occurs alongside other industry shifts. UBS Wealth Management U.S. has expanded its presence in the southern United States by opening a new wealth advice hub in Dallas. This facility creates space for over 170 professionals as the bank seeks to bolster its national advice platform. The site functions similarly to existing hubs in New Jersey and North Carolina.
In Florida, AlTi Tiedemann Global has selected Cesar Pachon to lead its Miami office. Pachon arrives from We Family Offices and brings over twenty years of experience in wealth management. His focus includes supporting international families with U.S.-based assets. This appointment aligns with the firm goal of increasing its influence in key growth markets.
Finally, the consulting sector is seeing shifts as well. The Arch’s Anvil, based in Seattle, added Tamara Stelting as an executive consultant. The firm specializes in operational support for registered investment advisors who have surpassed the stage of founder-led management. Stelting brings experience from her previous roles as a chief operating officer and chief compliance officer to help the firm meet the rising demand for professionalized operations.