A $3 billion wealth management team from Citi Private Bank, specializing in extremely high net worth clients, is joining the Denver-based Alpha Capital Family Office.
Alexandra Romeo Boyles and Will Coughlin are joining the firm as senior wealth strategist and senior investment strategist (both will also be partners at Alpha Capital). Both advisors are based in Denver and work with single family offices, business owners, foundations, foundations and nonprofits.
“We serve high net worth families with complex balance sheets,” Boyles said. “Our choice to work with fewer than 50 families empowers us to serve as their dedicated outside family office.”
At Citi, Boyles was a senior vice president for the UHNW Private Banker division, overseeing client origination, lending, investment and tax/estate planning requirements, among others. (Previously, she worked as a vice president at UHNW Private Banker at JP Morgan.)
Coughlin has worked in the industry for more than 10 years. At Citi, he was senior vice president of investments, also based in Denver. He previously worked at Goldman Sachs, both in its alternative investments and manager selection groups, and as an advisor in its private wealth management division.
Coughlin cited turnover issues at Citi as part of the impetus behind his departure.
“Frankly, the turnover problems in private banking have denied my clients access to specialists focused on the investment opportunities they want and deserve,” he said.
Doug Campbell, founding partner of Alpha Capital Family Office, said the firm's focus on small client groups as an outsourced family office helps it attract talent from major banks and wealth management firms.
“Unlike these institutions, where advisors are often forced to manage multiple clients to provide the personalized attention required, our approach ensures that each client receives the dedicated service they deserve,” he said.
Alpha Capital was founded in 2015 by a breakaway team from Wells Fargo, including Campbell and his two sons. Campbell spun off the family office from Alpha Capital Management Group in 2020. (The firm primarily works with corporate retirement plans.) The firm began pursuing talent in the wealth management space, hiring Lumina Consulting to help them to recruit.
For a flat quarterly fee, the firm offers asset management and financial planning, as well as family governance, business coordination and tax, insurance, estate and philanthropy planning, with an evolving suite of fintech tools.
Campbell has said before WealthManagement.com the firm planned to grow through referrals and staff additions (he said he had no interest in M&A, choosing to double the number of advisers in the next few years through recruitment alone). The firm has approximately $1.25 billion in assets under advisement.
Earlier this year, the firm recruited Northern Trust alum Tom Riley to lead the building and management of customized client portfolios.