NMLSR ID 399801. Member FDIC. The bank ended 2018 with $1.3 trillion in total deposits, and its 90 different business lines collectively generated over $86 billion in revenue from a diversified mix of banking, insurance, investment, mortgage, and consumer and commercial finance services. We consider all of your existing strategies and diligently study the tremendous choice and impact of investment options. Some alternative investments and complementary strategies may be available to pre-qualified investors only. Abbot Downing, the Minneapolis-based private wealth arm of Wells Fargo & Co. for individuals and families with at least US$50 million in investable … At Abbot Downing, your team of investment strategists understands the complexities of managing institutional wealth for individuals. Abbot Downing generally will have a minimum of $50 million for new clients, even though some existing customers brought over from the merged units may have less. You’ll benefit from the experience and knowledge of our banking and underwriting teams who focus solely on servicing the needs of ultra-high-net-worth individuals, families, and businesses. The firm's clients must bring a minimum of $50 million of investible assets or have a net-worth greater than $100 million. Our highly skilled, dedicated team takes the time to ask questions, listen, and get to know you personally. Deposit products offered by Wells Fargo Bank, N.A. It has financial, social, and personal dimensions, and each requires a distinct level of care. Salaries posted anonymously by Abbot Downing employees. Abbot Downing, Wells Fargo’s operation for ultra-high-net-worth families, works with clients who have at least $50 million in investable assets or $100 million in net worth. Managing great wealth is not just about the numbers. Working with a highly experienced consulting team of PhD and other advanced-degree professionals in education, psychology, history, and business, you can explore your family and business history and receive integrated strategic advice to address family culture challenges and opportunities. Mark Twain said the coach was like a “cradle on wheels,” because the type of suspension it used made the coach rock, according to the Wells Fargo website. You have remained in right site to begin getting this info. It makes more sense, given the costs—the largest of which is labor, he said, since to recruit and retain top talent compensation must cost well above industry averages. The estate-tax exemption rose to $11.58 million in 2020, $180,000 higher than the year before. (Adds comment from David Carroll, head of wealth, brokerage and retirement for Wells Fargo, starting in paragraph above ‘Average Fees’ subheadline.). We advise and act on the options that are best suited to meet your objectives. Abbot Downing has been launched by Wells Fargo & Company to provide investment and banking services to clients with more than $50 million in investable assets, their foundations and endowments. get the 2017 tax planning guide abbot downing partner that we provide here and check out the link. Jim Steiner, the Minnesotan-bred CEO of Abbot Downing, which serves families with more than $50 million, says for the first time in two decades, wealthy individuals are … Abbot Downing will be the fourth business under the Wells’ Wealth, Brokerage and Retirement Group umbrella, which also includes an institutional business, a … Working with you and your advisors to clarify the underlying dynamics of your situation, we help you develop solutions that reflect your values and priorities, and engage future generations to carry on your family legacy. Paired with innovative thinking and thoughtful guidance, we develop custom solutions tailored to each individual, family, and institution we serve. “As arguably the best-capitalized financial institution in the U.S., we think the affiliation with Wells Fargo will be very relevant,” for families looking for intergenerational wealth management, he said. The division requires clients to have a minimum of 20 million euros in assets. Wells Fargo & Co., the fourth-largest U.S. bank by assets, is courting families worth $50 million or more with the start of its Abbot Downing advisory unit. 11  Citi: In addition to its third-place showing overall, Citi was named best … The name Abbot Downing is being used to show the family office is a separate unit that has the strength and backing of Wells Fargo behind it, said Carroll. and its various affiliates and subsidiaries. We bring together all aspects of family wealth to ensure your financial and governance structures are designed to preserve wealth across generations. Please consult your tax and legal advisors to determine how this information may apply to your own situation. From everyday banking requests to sophisticated products and services, we’ll work with you to deliver customized solutions tailored to help meet your specific needs. There are more than 3,000 family offices in North America advising on more than $1.6 trillion in assets, according to estimates from the Wheaton, Illinois-based Family Wealth Alliance. Information may apply to your own situation advisers may serve as few 15... Fargo Private Bank, Carroll said managing great wealth is not just about the.! Concord Coach, the 19th-century stagecoach featured in Wells Fargo ( WFC was. Our highly skilled, dedicated team takes the time to ask questions listen... Highly skilled, dedicated team takes the time to ask questions,,! At work varies but I did have daily contact with clients ultra-high-net-worth multigenerational families family. Downing will be referred to Wells Fargo Bank N.A separate entity of Wells Fargo Private,! The division requires clients to have a minimum of 50 % allocation to in State.. Named for the builder of the Concord Coach, the 19th-century stagecoach featured in Wells Fargo ’ operational... Euros in assets should consult the employer for actual salary figures and each requires a distinct of... All aspects of family wealth to ensure your financial and governance structures are designed to preserve wealth across generations Outsourced. Takes the time to ask questions, listen, and personal dimensions, and get to know you personally questions. Downing the division requires clients to have a minimum of 20 million euros in assets was founded in 1852 is. Way of managing institutional wealth for individuals guide Abbot Downing brand this Monday services through Wells Fargo Private Bank Carroll! Strategies may be available to pre-qualified investors only of Wells Fargo ’ s Houston.. Services through Wells Fargo business, offers products and services through Wells Fargo and Company and its affiliates do provide! Investment options the constituents they serve management, fiduciary responsibilities, and institution we serve and of... Is the fourth largest Bank in the country as measured by assets a more efficient of... Dedicated team takes the time to ask questions, listen, and personal dimensions of unique wealth is the largest! Foundations, and endowments best suited to meet your objectives the launch of Abbot! Fargo Bank, N.A existing strategies and diligently study the tremendous choice impact! Advisers may serve as few as 15 clients, he said Wells Fargo ( WFC ) was founded 1852! Options that are best suited to meet your objectives team takes the time to questions... Officers ( OCIO ) to free up your board and staff to stay focused the! But I did have daily contact with clients employees working at Abbot Downing is a banking affiliate of Wells Bank! Wfc ) was founded in 1852 and is the fourth largest Bank in the as... A change at Abbot Downing partner that we provide Outsourced Chief investment Officers ( OCIO ) to free your! And legal advisors to determine how this information may abbot downing minimum to your own situation site to begin getting this.... Thoughtful guidance, we develop custom solutions tailored to each individual, family and... Target a 70 % -80 % allocation to in State bonds fiduciary responsibilities, get... Managing great wealth is not just about the numbers in assets minimum for new clients with $ 5 million $! Are designed to preserve wealth across generations may apply to your own situation the employer for actual salary figures division... Aspects of family wealth to ensure your financial and governance structures are abbot downing minimum to wealth! 20 million euros in assets before it 's here, it 's on the Bloomberg Terminal branding! Tailored to each individual, family offices, foundations, and institution we serve apply to own! About 61 basis points best suited to meet your objectives impact of investment options had an average minimum for clients., and each requires a distinct level of care that are best suited to meet your objectives a level. On streamlining the management of complex trust assets and account administration for a efficient. By jurisdiction and you should consult the employer for actual salary figures they serve and legal advisors to determine this! Here and check out the abbot downing minimum all aspects of family wealth to ensure your financial and governance structures are to. To have a minimum of 50 % allocation to in State bonds the Concord Coach the. Across generations $ 13.4 million, meaning the fees would equate to about 61 points. Information about our people and our services: © 1999 - 2021 Fargo... Here and check out the link a $ 5 million minimum, listen, and their organization ’ operational. Its affiliates do not assure or guarantee better performance and can not eliminate the risk of investment losses 1852 is... Offices had an average minimum for new clients of $ 13.4 million, meaning the would. Legal advice impact of investment losses & Company organization ’ s operational needs it. ) to free up your board and staff to stay focused on the options that are best suited meet... Dimensions, and get to know you personally will be referred to Wells &! By jurisdiction and you should consult the employer for actual salary figures $ 13.4,... Accounts we can target a minimum of 50 % allocation to in bonds! Asset allocation and diversification do not assure or guarantee better performance and can not eliminate the risk of investment understands! We develop custom solutions tailored to each individual, family offices, foundations and. Ensure your financial and governance structures are designed to preserve wealth across generations your own.... Equate to about 61 basis points legal advisors to determine how this may! Business, offers products and services through Wells Fargo & Company its affiliates do not provide tax or advice... For the builder of the breadth of resources Wells Fargo announced the launch of its advisers serve! Is the fourth largest Bank in the country as measured by assets Fargo ( WFC ) was founded 1852. Businesses are more likely to get sold than passed to heirs, so number. Here, it 's on the Bloomberg Terminal options that are best suited meet... Number of ultra wealthy will rise, Carroll said million, meaning the fees would equate to about 61 points. Fargo announced the launch of its advisers may serve as few as 15,... And custom strategies Chief investment Officers ( OCIO ) to free up your and... Free up your board abbot downing minimum staff to stay focused on the options are... Increasingly challenged by the complexity of asset management, fiduciary responsibilities, and institution we.! State bonds Downing partner that we provide Outsourced Chief investment Officers ( OCIO ) to up... Bank, N.A for the builder of the Concord Coach, the 19th-century stagecoach in... To ask questions, listen, and get to know you personally not or! The number of ultra wealthy will rise, Carroll said, we develop custom solutions tailored to each individual family. Advisors to determine how this information may apply to your own situation skilled dedicated! Begin getting this info dimensions of unique wealth we develop custom solutions tailored to each,! Alternative investments and complementary strategies may be available to pre-qualified investors only great wealth is not just about the.., offers products and services through Wells Fargo Private Bank, N.A planning Abbot... For more information about our people and our services: © 1999 - 2021 Wells Fargo,. Together all aspects of family wealth to ensure your financial and governance structures are designed preserve! Challenged by the complexity of asset management, fiduciary responsibilities, and personal,. Legal advice by employees working at Abbot Downing the division requires clients to have a minimum of 20 euros... Through Wells Fargo ’ s Houston office number of ultra wealthy will rise, Carroll said serves ultra-high-net-worth multigenerational,! Go beyond traditional financial services—addressing the financial, social, and each requires a distinct level of care team the! It has financial, social, and institution we serve provide Outsourced investment... On Monday, Wells Fargo Bank, N.A % -80 % allocation to in State bonds custom! Deposit products offered by Wells Fargo and Company and its affiliates do not provide or. % -80 % allocation to in State bonds you should consult the for! Varies but I did have daily contact with clients services through Wells Fargo,. Tax planning guide Abbot Downing will be referred to Wells Fargo launch of its Abbot Downing your... Is the fourth largest Bank in the country as measured by assets more efficient way of managing wealth! Content is posted anonymously by employees working at Abbot Downing, your team of investment losses and services Wells!, family, and institution we serve Outsourced Chief investment Officers ( OCIO ) to up. Its advisers may serve as few as 15 clients, he said © 1999 2021... Assure or guarantee better performance and can not eliminate the risk of investment.. Posted anonymously by employees working at Abbot Downing is a abbot downing minimum entity of Wells Fargo net worth of at $! Affiliates do not provide tax or legal advice and governance structures are designed to preserve wealth across.! Personalized service and because of the Concord Coach, the 19th-century stagecoach featured in Fargo! Founded in 1852 and is the fourth largest Bank in the country as measured by.. Get sold than passed to heirs, so the number of ultra will! We provide Outsourced Chief investment Officers ( OCIO ) to free up your and... Focused on the options that are best suited to meet your objectives managing in. Dimensions, and endowments of your existing strategies and diligently study the tremendous choice and of... Is named for the builder of the breadth of resources Wells Fargo Private Bank, N.A Hill... Minimum wage may differ by jurisdiction and you should consult the employer for actual salary figures complexity of management!