Bank of the West Wealth Management Group, a subsidiary of BNP Paribas, has launched Family Wealth Advisors, a new dedicated team to serve ultra-high-net-worth (UHNW) clients.
The team, headed by Steve Prostano, will focus on offering integrated wealth management solutions and services to individuals, families, foundations and family offices with more than $25m in assets.
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The company said that Family Wealth Advisors will deliver wealth planning, global investment management and consulting, strategic philanthropy and purpose investing, family enterprise solutions and other specialized services.
The team also includes Eric Sanderson, head of wealth planning and family enterprise solutions, Julie Shafer, head of strategic philanthropy and purpose investing as well as Ed Kleist, who joined Family Wealth Advisors as senior client advisor.
Bank of the West said that these executives will join three core client teams in the San Francisco, Orange County and Denver areas, while Family Wealth Advisors will support clients across 19 US states.
Family Wealth Advisors will provide a set of core family wealth services, family enterprise solutions, as well as specialized services.
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By GlobalDataAdditionally, it will also offer services such as integrated wealth planning, global investment management solution, strategic philanthropic and purpose investing, fiduciary services as well as capital advisory and banking services.
Furthermore, the team will also deliver specialized services to address many of the issues families face such as private business owner solutions, financial management, risk management, lifestyle and logistics management, and art advisory services.
Bank of the West chairman and CEO Michael Shepherd said: "We’ve created a team of professionals who bring decades of experience working with ultra-high-net-worth clients to every relationship."
BNP Paribas co-head of wealth management business Sofia Merlo said: "Bank of the West Wealth Management Group along with Family Wealth Advisors can provide a level of breadth and depth of solutions for affluent clients that come from integrating Bank of the West solutions with the global access and capabilities of BNP Paribas."
