Fifth Third Wealth Advisors® Adds Team, Office in Winston-Salem, North Carolina

Rhea-AI Summary

Fifth Third Wealth Advisors has expanded its presence by opening a new office in Winston-Salem, North Carolina, welcoming a team that previously managed $1.8 billion in client assets. The team includes Jonathan Cochrane and Spencer Huggins as Managing Directors, and Shannon Shelton as Relationship Manager. This expansion follows the recent opening of another office in Charlotte, North Carolina. The firm now operates ten advisor teams across seven states, including Florida, Georgia, Illinois, New York, North Carolina, Pennsylvania, and Texas. Fifth Third Wealth Advisors ranks among the top 500 independent RIAs in the US.

Positive

• Addition of team managing $1.8 billion in client assets
• Geographic expansion with new office in Winston-Salem
• Ranked among top 500 independent RIAs in US
• Presence expanded to 10 advisor teams across 7 states

Negative

• None.

Insights

Financial Services Analyst

The addition of a team managing $1.8 billion in client assets represents a significant expansion of Fifth Third's wealth management capabilities. This strategic move strengthens their presence in the Southeast region and adds substantial assets under management to their wealth advisory business. The Winston-Salem team brings valuable expertise with 55+ years of collective experience, complementing the recent Charlotte office opening. This expansion aligns with Fifth Third's growth strategy in wealth management, positioning them to capture more market share in high-net-worth client segments.

The geographic diversification across seven states indicates a robust national growth strategy, potentially leading to increased fee-based revenue streams. Being ranked among the top 500 independent RIAs in the US demonstrates their competitive position in the wealth management industry, which typically generates higher-margin revenue compared to traditional banking services.

CINCINNATI--(BUSINESS WIRE)-- Fifth Third Wealth Advisors^®, a multi-custodial registered investment advisory firm, is pleased to announce its newest team and office in Winton-Salem, North Carolina. The following advisors joined the organization having managed $1.8 billion in client assets at their previous firm:

• Jonathan Cochrane, Fifth Third Wealth Advisors, Managing Director
• Spencer Huggins, Fifth Third Wealth Advisors, Managing Director
• Shannon Shelton, Fifth Third Wealth Advisors, Relationship Manager

“It’s my pleasure to welcome this team of committed and proven professionals to Fifth Third Wealth Advisors,” said Eric Housman, president of Fifth Third Wealth Advisors. “With more than 55 years of collective experience, their expertise and unwavering dedication will further elevate our capacity to serve clients.”

Earlier this month, Fifth Third Wealth Advisors announced the opening of a new office and team based in Charlotte, North Carolina.

Fifth Third Wealth Advisors now has ten advisor teams serving clients in seven states across the country. Offices are based in Naples and Tampa, Florida; Atlanta, Georgia; Springfield, Illinois; Westchester, New York, Charlotte and Winston-Salem, North Carolina; Pittsburgh, Pennsylvania and Dallas, Texas. 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.

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/20241118270883/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 Winston-Salem team manage at their previous firm?

The new team joining Fifth Third Wealth Advisors (FITB) in Winston-Salem previously managed $1.8 billion in client assets.

How many states does Fifth Third Wealth Advisors operate in as of 2024?

Fifth Third Wealth Advisors (FITB) operates in seven states: Florida, Georgia, Illinois, New York, North Carolina, Pennsylvania, and Texas.

Who are the new team members joining Fifth Third Wealth Advisors in Winston-Salem?

The new team members joining Fifth Third Wealth Advisors (FITB) in Winston-Salem are Jonathan Cochrane and Spencer Huggins as Managing Directors, and Shannon Shelton as Relationship Manager.