Ex-UBS broker duo managing $1.4bn launch wealth management firm

Pedro Gonçalves
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Ex-UBS broker duo managing $1.4bn launch wealth management firm

Two former UBS advisers who led that firm's $1.4bn Cascade Group have broken away from the firm to launch an independent wealth management business in Bellevue, Washington.

Parcion Private Wealth is led by partners Terry Cook and Kyle Caouette and includes 11 additional advisers and support staff and provides financial planning and wealth management services to first-generation wealth creators and their families.

"Our concentration at Parcion is to diligently preserve and manage the wealth of the hardworking business owners and entrepreneurs that we serve, allowing them to stay focused on driving purpose for themselves, their families and their broader communities," said Cook.

Our concentration at Parcion is to diligently preserve and manage the wealth of the hardworking business owners and entrepreneurs that we serve"

"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."

In order to launch as business owners, the Parcion team engaged Fidelity Family Office Services, a division of Fidelity Clearing & Custody Solutions, to act as the primary custodian for their clients' assets. 

"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," said David Canter, head of the RIA segment for Fidelity Clearing & Custody Solutions.

Cook has been an adviser 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.  

 

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