Apr 16, 2024 Seventy2 Capital Surpasses $5 Billion in Assets Under Management
Seventy2 Capital Wealth Management, a client-centered, independent wealth management practice headquartered in the Washington DC – Baltimore region, announced today that their practice has surpassed $5 billion in assets under management (AUM) as of April 5, 2024.
“Reaching this milestone shows a vote of confidence from both clients and advisors, and we couldn’t be more excited,” said Tom Fautrel, President and Co-Founder of Seventy2 Capital. “Our partnership with Wells Fargo Advisors Financial Network has been a big contributing factor in our success as an independent wealth management practice. We view this achievement as validation of what we're doing, and we look forward to supporting more people to reach their financial goals.”
Paul Carlson and Thomas Fautrel co-founded Seventy2 Capital in December 2016 after leaving Morgan Stanley to go independent within Wells Fargo Advisors Financial Network. After their first year in business, the eight-person team had just over $2 million in revenue and $274 million in AUM with one office in Bethesda, MD. Through both organic growth and recruiting additional advisors to join the team, Seventy2 Capital has grown rapidly, surpassing $1 billion in AUM in their first four years and $3 billion in six years in business. Today, the practice is made up of 44 advisors and 28 staff members in ten offices spanning the East Coast, with an additional 36 team members committed to join in the next year. Over the span of a calendar year, the practice will open five offices in Westport, CT; Red Bank, NJ; Abingdon, VA; Bluffton, SC; and Mountainside, NJ.
About Seventy2 Capital
Seventy2 Capital is a full-service, independent wealth management practice committed to supporting individuals, families, and business owners to achieve their financial goals. We are passionate about the work we do for our clients. We form a deep understanding of our client’s goals and values and then develop and implement customized strategies that fit those objectives. We have been recognized as one of the 2022 Forbes Top Wealth Management Teams - High Net Worth in the United States and 2023 Barron’s Top 100 Private Wealth Management Teams. Visit Seventy2Capital.com.
2022 Forbes Top Wealth Management Teams: Awarded November 2022; Data compiled by SHOOK Research LLC based on the time period from 3/31/21 – 3/31/22 (Source: Forbes.com). The Forbes Top Wealth Management Teams rating algorithm is based on the previous year’s industry experience, interviews, compliance records, assets under management, revenue, and other criteria by SHOOK Research, LLC. Investment performance is not a criterion. Self-completed survey was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria. High Net Worth designates advisors whose account sizes are typically under $10mm, though may have accounts with higher amounts.
2023 Barron’s Top 100 Private Wealth Management Teams: Awarded April 2023; Data compiled by Barron’s based on the timer period from Jan. 2022 – Dec. 2022 (Source: Barrons.com). The Barron’s Top 100 Private Wealth Management Teams are evaluated on a range of factors for the Financial Advisor and their team, who specialize in serving individuals and families. Factors included in the ratings include their previous year’s size and shape, the regulatory records and credentials of their members, and the resources they have at their disposal to serve their client bases. Self-completed questionnaire was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria.
About Wells Fargo Advisors Financial Network
For more than 20 years, Wells Fargo Advisors Financial Network (WFAFN), the independent brokerage arm of Wells Fargo & Company, has simplified independence by partnering with successful financial advisors and fostering a mutual passion for doing what is right for clients.
Wells Fargo Wealth & Investment Management (WIM) is a division within Wells Fargo & Company. WIM provides financial products and services through various bank and brokerage affiliates of Wells Fargo & Company.
Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. Seventy2 Capital Wealth Management is a separate entity from Wells Fargo Advisors Financial Network.
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