Fifth Third Bancorp in Cincinnati has formed an independent registered investment adviser.
The $206 billion-asset company said in a press release that Fifth Third Wealth Advisors is being led by Eric Housman, who has been at the bank for more than a decade. He previously served as managing director of Fifth Third Private Bank’s MidAtlantic region.
The RIA “offers advisers the freedom to operate entrepreneurially and independently,” Kristine Garrett, Fifth Third Bank’s group regional president and head of wealth and asset management, said in the release. “Advisers remain at the center of their client relationships while drawing on the depth and breadth of resources of Fifth Third Bank.”
“Our adviser teams have the opportunity to take advantage of our flexible investment management platform while also providing access to additional services such as trust powers, credit and planning,” Housman said in the release.
“We have coupled this model with a robust technology stack and Fidelity Investments as our custodian,” he added. “We believe we offer the look, feel and nimbleness of an independent boutique backed by a top-performing regional bank.”
Fifth Third Wealth Advisors wants to add advisers with books of business that exceed $1 billion. It already has teams in Naples, Fla.; Springfield, Ill.; northern California; and Atlanta.