Many financial services firms offer comprehensive wealth management solutions. Fortress Investment Group, a leading global alternative asset manager, is now taking the next step–offering its clients a full custom-tailored suite of private wealth solutions.
The Fortress Private Wealth Solutions will be a full-service private bank tailored specifically to meet the needs of ultra-high net-worth individuals, families, and foundations. Fortress combines a highly experienced team with a multi-disciplined investment strategy to deliver a wealth management solution designed for the needs of its clients.
Creating Fortress Private Wealth Solutions will significantly increase the quality of service and client communications and improve client value. The Private Wealth Solutions Team will be led by Fortress Investment Group Chairman and CEO Wes Edens and include two additional dedicated, senior-level professionals to manage the business operations and client service function.
Fortress Investment Group will manage the private wealth solutions investment strategy and source client assets. Fortress Private Wealth Solutions will be headquartered in New York, NY, with an office in Chicago, IL.
Mr. Edens, Chairman, and CEO of Fortress Investment Group, said, “Our future lies in the individual investor. This business is an important strategic opportunity for Fortress to meet the growing need for better service among high-net-worth clients who seek access to alternative assets with customized solutions.
We are pleased to have Wes Michaels leading the effort to scale this business. Wes has a proven track record of successful private wealth advisory relationships, which we believe will accelerate our growth and create value for clients and shareholders. Private Wealth Solutions is an important building block in our mission to develop Fortress as the dominant global alternative asset manager.”
Mr. Michaels, Founder of The Capital Guardian Trust Company, LLC, said, “The wealth management industry is undergoing a major shift from traditional banking models. The New York based Private Wealth Solutions can deliver an innovative approach to private wealth management. Private Wealth Solutions will be a full service, independently managed, and scalable business offering a menu of customized investment solutions for high-net-worth clients.”