Convergent Wealth Advisors Hires Managing Director to Capture New Business

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Richard Wells Joins Convergent to Lead Direct Sales Efforts

Richard Wells Headshot

Richard Wells

Independence’s holistic wealth management approach is resonating strongly with investors who are seeking a more sophisticated solution to their portfolio needs.

Convergent Wealth Advisors announced that it has hired Richard Wells as Managing Director. An early pioneer at Fisher Investments with over 20 years of experience, Wells now brings his expertise to the burgeoning Independence by Convergent™ wealth management platform. Wells will help broaden Independence’s presence outside of the firm’s traditional Washington, D.C., New York, and Los Angeles markets. His talents are expected to drive the firm’s growth efforts to that of a nationally recognized wealth management solution for the $1 million plus investor.

This key hire continues the rapid expansion of the Independence wealth management offering. In a recent press release, the firm noted Independence’s exponential growth has pushed the division’s assets under advisement over $500 million as of late September 2013, growing almost 100% in under one year. Additionally, the Independence client base has more than doubled during that same time period.

Wells will initially concentrate his sales efforts in the Atlanta, Georgia marketplace, establishing Convergent’s bold plan for expansion and to plant the Independence flag nationally. Independence’s holistic wealth management approach is resonating strongly with investors who are seeking a more sophisticated solution to their portfolio needs. CEO Dave Zier stated, “To have a talent like Richard join Convergent is a testament to our solid brand and related ability to attract some of the best talent out there.”

Douglas Wolford, Convergent’s President and COO, added, “Richard has a keen ability to listen and respond to clients’ needs, marketing our distinctive offering to deliver to the $1 million investor the strategies and techniques previously reserved for those investors with over $10 million. Our goal is to attract potential clients earlier in the wealth creation cycle, such as pre-liquidity entrepreneurs, and build Independence into a national brand—a solution for the ‘millionaire next door.’”

About Convergent Wealth Advisors

Convergent Wealth Advisors is a recognized industry leader in wealth management, advising on over $11 billion in assets (as of September 30, 2013). Convergent provides investment consulting services and customized wealth management solutions to ultra-high net worth individuals and family offices with investable assets of $10M and more. Independence by Convergent™ is a division of Convergent focused on servicing clients with $1 million and more in investable assets.

City National Bank is backed by $29.1 billion in total assets (as of September 30, 2013), and provides banking, investment and trust services through 77 offices, including 16 full-service regional centers in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. The company and its investment affiliates manage or administer $61.5 billion in client investment assets as of September 30, 2013. City National is the 25th largest American commercial bank by asset size.

Convergent has offices in Washington, DC, Los Angeles, New York, and Portland, OR.

Media Contact: Douglas Wolford | 301.284.1112 | Doug.Wolford(at)ConvergentWealth(dot)com

Non-deposit investment products are not FDIC insured, are not deposits or other obligations of City National Bank, are not guaranteed by City National Bank and involve investment risks, including the possible loss of principal.

Convergent is a majority-owned subsidiary of Convergent Capital Management, which is a subsidiary of City National Corporation (NYSE:CYN), the parent company of City National Bank.

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