$1.4B UBS Team Breaks Away With Fidelity
The group is based in Bellevue, Washington, and spent more than a decade with the wirehouse.
A $1.4 billion UBS team has gone independent with Fidelity Clearing & Custody Solutions in Bellevue, Washington.
Terry Cook and Kyle Caouette formerly worked together in the Cascade Group but now do business as Parcion Private Wealth, a family office that includes the two certified financial planners and 11 other staff members. Their focus is on serving high-net-worth business owners and entrepreneurs.
“Parcion understands the unique needs of first-generation wealth creators, enabling them to provide business owners and entrepreneurs with highly specialized services that are tailored to their financial situations,” according to David Canter, head of the RIA segment for Fidelity Clearing & Custody Solutions.
Cook has been an advisor for 26 years; he was with Merrill Lynch from 1993 to 2002 and then with UBS. Caouette was with UBS for the past 12 years.
“As we embark on this journey of becoming business owners ourselves, we more intimately understand the challenges that affect our clients … ,” Cook said in a statement. “As a result, we are well-positioned to provide them with wealth management solutions that will preserve their legacies and enable them to lead their best lives.”
Longtime residents of the Seattle metro area, members of the Parcion team support Big Brothers Big Sisters of Puget Sound, Seattle Children’s Hospital, the CFA Society of Seattle and other organizations.
— Check out Going Indie, With Help From Wells Fargo on ThinkAdvisor.