Fifth Third Wealth Advisors ® Adds Team, Office in Charlotte, North Carolina

Rhea-AI Summary

Fifth Third Wealth Advisors announces expansion in Charlotte, North Carolina, with the addition of a new advisor team previously managing $2 billion in client assets. The team includes Scott Bailey, Scott Cislo, and Murray Kinlaw as Managing Directors. The firm now operates in eight states with nine advisor teams, serving clients nationwide. According to independent research, Fifth Third Wealth Advisors ranks among the top 500 independent RIAs in the US and projects to become a top 100 independent RIA firm by the end of 2025.

Positive

• Addition of team managing $2 billion in client assets
• Geographic expansion to new market in Charlotte
• Projected growth to top 100 independent RIA firm by 2025
• Current ranking among top 500 independent RIAs in US

Negative

• None.

Insights

Financial Analyst

The addition of a $2 billion AUM team to Fifth Third Wealth Advisors represents a significant expansion of their wealth management capabilities. This strategic move strengthens FITB's fee-based revenue stream and positions them well in the competitive RIA space. The bank's projection to reach top 100 independent RIA status by 2025 indicates aggressive growth plans in wealth management, which could help diversify revenue beyond traditional banking services.

The geographic expansion into Charlotte, a major financial hub in the Southeast, coupled with the multi-state presence across eight states, demonstrates FITB's commitment to scaling their wealth management business. This expansion could help buffer against interest rate sensitivity in their core banking operations and potentially improve their overall revenue mix with more stable, fee-based income.

CINCINNATI--(BUSINESS WIRE)-- Fifth Third Wealth Advisors^®, a multi-custodial registered investment advisory firm, is pleased to announce the expansion of its presence in Charlotte, North Carolina. The following advisor team has joined Fifth Third Wealth Advisors having managed $2 billion in client assets at their previous firm:

• Scott Bailey, Fifth Third Wealth Advisors, Managing Director
• Scott Cislo, Fifth Third Wealth Advisors, Managing Director
• Murray Kinlaw, Fifth Third Wealth Advisors, Managing Director

“We are excited to welcome this team of dedicated and trusted professionals to Fifth Third Wealth Advisors,” said Eric Housman, president of Fifth Third Wealth Advisors. “Their expertise and commitment to excellence will further enhance our ability to serve clients.”

Kinlaw and Cislo are located in the new Charlotte office, while Bailey is located in St. Louis, Missouri.

Fifth Third Wealth Advisors now has nine advisor teams serving clients in eight states across the country. Offices are based in Naples and Tampa, Florida; Springfield, Illinois; Westchester, New York; Pittsburgh, Pennsylvania; Dallas, Texas and Atlanta, Georgia. While teams are currently based in these locations, advisors serve clients across the country regardless of geographic location.

According to independent research*, Fifth Third Wealth Advisors ranks among the top 500 independent RIAs in the US. Learn more about Fifth Third Wealth Advisors at FTWA.com or follow on LinkedIn.

“At FTWA, we believe we offer the look, feel, and agility of an independent boutique, supported by a top-performing regional bank,” Housman said. “We allow our teams to dedicate more time to clients and strengthen client relationships. We look forward to continuing our growth story. Based on our projections, Fifth Third Wealth Advisors is expected to be a top 100 independent RIA firm by the end of 2025."

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.

*Datos Insights/Fifth Third Bank SEC ADV Database Research, 2024

View source version on businesswire.com: https://www.businesswire.com/news/home/20241107297482/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

How much in assets did the new team joining Fifth Third Wealth Advisors (FITB) previously manage?

The new team joining Fifth Third Wealth Advisors previously managed $2 billion in client assets at their former firm.

How many advisor teams does Fifth Third Wealth Advisors (FITB) currently have?

Fifth Third Wealth Advisors currently has nine advisor teams serving clients across eight states.

What is Fifth Third Wealth Advisors' (FITB) projected ranking goal by 2025?

Fifth Third Wealth Advisors projects to become a top 100 independent RIA firm by the end of 2025.

Where are Fifth Third Wealth Advisors' (FITB) current office locations?

Offices are located in Naples and Tampa, Florida; Springfield, Illinois; Westchester, New York; Pittsburgh, Pennsylvania; Dallas, Texas; Atlanta, Georgia; and now Charlotte, North Carolina.