Fieldpoint Private Launches Advisor Banking Services Platform

First-of-its-kind platform provides full suite of private banking offerings to independent advisory community

GREENWICH, CT – December 7, 2022 – Fieldpoint Private announces the launch of Fieldpoint Private Advisor Banking Services, a boutique private banking solution for select RIAs and their clients. This platform enables independent registered investment advisor (RIA) firms to integrate private personal and commercial banking and lending into their wealth management service offerings.

Fieldpoint Private is filling an unmet need for a white-glove private banking resource dedicated to the independent advisory community, the largest and fastest growing channel within the wealth management industry. Currently, clients of independent RIAs must look outside their most trusted financial relationships for banking and lending support, forgoing the expertise of their established advisors and adding complexity to their financial lives.

Russ Holland, President and CEO of Fieldpoint Private, noted that the firm’s custom approach is very different than call centers, fintech banking plugins and other arrangements sometimes available to independent advisors. “Our platform keeps advisors at the heart of the relationship, positioning them to advise on all facets of the client lifecycle, from wealth creation to wealth protection and wealth transfer. This is the only platform we know of that makes the independent RIA essentially a multi-family office.”

Mr. Holland believes Fieldpoint’s initiative is a natural next step for the firm, which was founded in 2008 as both a private bank and wealth advisory boutique. The firm eventually reached over $3.4 billion in investment assets under management (AUM) and earned status on the Barron’s 100 list of top registered investment advisor firms. “After 14 years of providing banking services to our own RIA, we understand the power of the advisor-client relationship. We’ve lived it and served it, and we are incredibly gratified at the response we are seeing as we introduce the platform to the RIA community.”

As Advisor Banking Services is launched, Fieldpoint Private is exiting the investment advisory business and its advisors are migrating to new firms, predominantly independent RIAs. This has led to banking collaboration agreements with several firms to-date, and a pipeline of additional RIAs, seeking a solution with a focus on the high-and ultra-high net worth range.

Essential to the new platform is proprietary technology, Fieldscope™, which facilitates client introductions and transactions with the bank, and provides process transparency that keeps the advisor fully in command of the status of their clients’ banking business. Alongside Fieldscope is the continuous presence of Fieldpoint’s private personal and commercial bankers, who become part of the advisor’s trusted circle of expert resources and gain deep familiarity with clients and their families and businesses over time.

Fieldpoint’s suite of RIA services also includes Fieldpoint Private Trust, which administers advisor-centric delegated and directed trusts and enables clients’ advisor teams to retain management of trust assets.

Holland added that while the firm will no longer, itself, provide wealth advisory services, Fieldpoint’s transformation is not a step away from wealth management, but a new bigger way of embracing it. “To us, wealth management is what happens when holistic planning-based investment advisory and private banking come together. Advisory Banking Services represents a larger commitment to this vision, touching many more advisor-client relationships than has been possible before.”

To view the official press release, click here.



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