Fifth Third Opens Dallas-based Fifth Third Wealth Advisors Office

Rhea-AI Summary

Fifth Third Bank has launched a new Dallas-based Fifth Third Wealth Advisors office, marking the eighth location for its independent Registered Investment Advisor subsidiary. The firm has surpassed $1 billion in assets under management within 18 months of its inception. Fifth Third Wealth Advisors provides a flexible investment management platform and access to additional services like trust powers, credit, and planning. The firm supports advisor teams across various locations, providing seamless back-office support and dedicated onboarding resources to enhance client relationships.

Positive

• New Dallas-based office expands Fifth Third Wealth Advisors' presence, enhancing customer reach.
• Firm surpassed $1 billion in assets under management in less than 18 months.
• Flexible investment management platform and additional services like trust powers, credit, and planning improve client offerings.
• Supportive back-office and onboarding resources enhance advisor efficiency and client relationship management.

Negative

• Expansion into new office locations could increase operational costs.
• Rapid growth in assets under management may pose scalability challenges.

CINCINNATI--(BUSINESS WIRE)-- Fifth Third Bank today announced the opening of its Dallas-based Fifth Third Wealth Advisors office. The office is the eighth location for the Bank’s independent Registered Investment Advisor.

In March, Fifth Third Wealth Advisors announced in less than 18 months since posting its launch, it had exceeded $1 billion in assets under management (AUM).

“Our adviser teams have the opportunity to take advantage of our flexible investment management platform while also providing access to additional services such as trust powers, credit and planning through Fifth Third Bank,” said Eric Housman, president Fifth Third Wealth Advisors. “We believe we offer the look, feel and nimbleness of an independent boutique backed by a top-performing regional bank.”

Fifth Third Wealth Advisors currently has advisor teams based in South Florida/Naples and Tampa, Florida, Central Illinois/Springfield, New York/Westchester County, Pennsylvania/Pittsburgh and Metro Atlanta offices. While teams are based in these locations, advisors serve clients across the country regardless of geographic location.

Housman says that complete back-office support and dedicated onboarding resources provide advisors with a seamless transition. “We give our teams more time to focus on clients and deepening client relationships,” he added. Learn more about Fifth Third Wealth Advisors at FTWA.com or follow on LinkedIn.

About Fifth Third

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association, is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com.

Fifth Third Wealth Advisors LLC is an investment adviser registered with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. Additional information about Fifth Third Wealth Advisors LLC is available on the SEC’s website at www.adviserinfo.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240521742491/en/

Adrienne Gutbier (Media Relations)

adrienne.gutbier@53.com | 513-534-8038

Matt Curoe (Investor Relations)

matt.curoe@53.com | 513-534-2345

Source: Fifth Third

FAQ

What is the significance of Fifth Third Wealth Advisors opening a Dallas-based office?

The opening of the Dallas-based office marks the eighth location for Fifth Third Wealth Advisors, expanding their geographic footprint and enhancing their service reach.

How much in assets under management has Fifth Third Wealth Advisors achieved?

Fifth Third Wealth Advisors has surpassed $1 billion in assets under management within 18 months of its launch.

What services does Fifth Third Wealth Advisors offer?

Fifth Third Wealth Advisors offers a flexible investment management platform, trust powers, credit, and planning services.

Where are Fifth Third Wealth Advisors' other office locations?

Advisor teams are based in South Florida/Naples, Tampa, Florida, Central Illinois/Springfield, New York/Westchester County, Pennsylvania/Pittsburgh, and Metro Atlanta.

How does Fifth Third Wealth Advisors support its advisor teams?

Fifth Third Wealth Advisors provides complete back-office support and dedicated onboarding resources to ensure a seamless transition and enhance focus on client relationships.