Jul 27 2016 19504 1 Ex Wall Streeters Open Office In Palm Beach

Jul 27 2016 19504 1 Ex Wall Streeters Open Office In Palm Beach

Like a fish to water, another bank catering to the rich has found its way to Palm Beach.

Fieldpoint Private  has a twist, however.

This boutique wealth advisory and private banking firm was created by people who once led the nation’s biggest investment banks and companies.

They include Daniel Tully, the former chairman of Merrill Lynch(Tully, a resident of Hobe Sound, died in May at age 84); David Komansky, another former Merrill Lynch chairman; Home Depot co-founder Ken Langone; and former Time chairman Reginald Brack.

After retirement, the founders agreed they weren’t happy about the treatment they received on the other side of the table, as super-rich customers listening to their brokers pitch investments. They even created a videodescribing the complaints that led them to form Fieldpoint.

Their main beef was that they were tired of being advised to buy products created by the brokerage that was advising them. All felt this was a conflict of interest, and they thought there was a better way.

So in April 2008, as the financial crisis was about to hit, they created Fieldpoint Private in Connecticut. The company offers wealth management and strategy, family office, private banking and business banking services.

The office grew to a New York location in 2011.

Now Fieldpoint Private has opened an office in the Phillips Point office complex, at 777  S. Flagler Drive, in West Palm Beach.


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Salvatore Defrisco Headshot
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Phone: 561-644-0052
Dated: July 27th 2016
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