Charlotte’s Fifth Third Wealth Advisors Aims to Double Client Assets to $5 Billion by 2025

Charlotte’s Fifth Third Wealth Advisors: A New Powerhouse in Wealth Management!

Hey there, Charlotte! Have you heard the buzz about Fifth Third Wealth Advisors (FTWA)? This exciting investment advisory firm, which came onto the scene in early 2022, is quickly making a name for itself. The company, part of the broader Fifth Third Bancorp family, is now managing a whopping $2.5 billion in client assets and has its sights set on a big goal — doubling that number to $5 billion by the end of 2025!

Big Plans and Even Bigger Aspirations

What does that mean for FTWA? Reaching that $5 billion mark would catapult them into the ranks of the top 100 independent registered investment advisors in the entire country. That’s pretty impressive for a firm that has only been around a short while! The brain behind this ambitious endeavor is none other than Eric Housman, the president of FTWA who also calls Charlotte home.

Housman explained that the firm was created to keep up with a growing trend in the wealth management world. Traditional banks are seeing talent move toward Registered Investment Advisors (RIAs), and FTWA wanted to get in on that action. “We decided we would go out and build our own RIA so that we could attract some of this talent that was already moving,” he mentioned.

Why Choose FTWA?

One of the standout features of FTWA is its hybrid structure. This means they offer the independence that comes with being an RIA while still benefiting from some powerful bank resources. Think about it: they can provide clients not just investment advice, but also credit, trust services, and financial planning tools—all under one roof!

This structure has made FTWA particularly attractive to seasoned advisory teams. Each of these teams manages at least $1 billion in assets and brings a wealth of client relationships. Right now, they have 10 teams spanning eight states, and Housman believes they can grow even further. “It’s really about where is the talent,” he shared, emphasizing that they’re open to growing beyond just the Charlotte area.

A New Home for a Growing Team

Charlotte won’t just be the home base for FTWA; it’s where they plan to expand aggressively. They’re moving into a fancy new office in uptown Charlotte at 101 N. Tryon St. early next year. This new location is part of their strategy to grow while staying committed to the vibrant Charlotte community. Currently, they’re operating out of the Fifth Third Center at 201 N. Tryon St..

Success is in the Numbers!

And the success keeps rolling in! Just this month, FTWA added a new team from TIAA that brings with it an impressive $2 billion in client assets. As FTWA pushes toward its growth goals, they’re laser-focused on giving advisors more time to connect with clients by doing away with mundane administrative tasks.

Housman proudly stated, “Our teams have 95% to 98% of their time to really focus on clients, prospects, and deepening relationships.” It seems their strategy is working as FTWA has already gained recognition among the top 500 independent RIAs in the U.S.

A Breath of Fresh Air

Housman refers to FTWA as a “breath of fresh air” in the industry and aims to maintain a boutique feel. “We are providing a very attractive place for very tenured and successful advisors who are working for traditional private banks today,” he said. It’s all about creating a welcoming environment that keeps top talent happy and helps clients feel at ease.

As FTWA continues to climb the wealth management ranks, it’s clear that this Charlotte-based firm is one to watch. With big goals, a strong foundation, and an unwavering commitment to client service, they’re not just participating in the industry—they’re shaking things up in a big way!