Terry Cook and Kyle Caouette, two former UBS financial advisors who led that firm’s Cascade Group, have launched a new Bellevue, Wash.-based registered investment advisor called Parcion Private Wealth.
The firm includes 11 additional advisors 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 Terry Cook.
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.