US Bank believes that this new name will provide a unique brand identity to reinforce a differentiated service- delivery model being created for its ultra high net worth clients.
According to the bank, using a fully integrated service model, Ascent Private Capital Management will provide ultra high net worth clients with a personalized client-service model that combines traditional wealth-management offerings – financial planning; investment consulting; private banking; trust and estate administration services; information management; and financial administration and bill pay – with ‘wealth impact’ services to help some of the country’s wealthiest families with family governance and risk management; family dynamics; multi-generational wealth planning; leadership and communication assessment; strategic planning; education; and stewardship.
Ascent Private Capital Management is expected to begin opening offices in select US cities later this year.
US Bancorp chairman, president and CEO Richard Davis said with the launch of Ascent Private Capital Management, U.S. Bank is enhancing its ability to serve the needs of an important client segment while capitalizing on a terrific market opportunity.
Ascent Private Capital Management is led by Michael Cole, president, who was the former head of Wells Fargo Family Wealth Group and Wealth Planning Center.
