Washington Federal Bank (WaFd) has filed with the Securities and Exchange Commission to launch WaFd Wealth, a new registered investment advisor in Seattle. The new entity has chosen Goldman Sachs Advisor Solutions for custody, according to an ADV filing.
WaFd has recruited John Chavez, who was previously with Merrill Lynch for 30 years, as CEO of the RIA. Bobby Campbell, who was with Merrill for 15 years prior to this, is serving as president.
They’re joined by Shane Parris, chief operating and financial officer, previously an executive with enlyte, which provides claims software, cost containment services and technology to the workers’ compensation and auto insurance industries.
Danny Law, who was with Merrill for 19 years, has joined as director of relationship management. Belle Jimeno and Liz Parris have come on board as director of client services and director of executive initiatives, respectively, also from Merrill Lynch.
A spokesman for the firm did not return a request for comment.
“Our interest in developing planning and investment solutions for our clients has been growing over the years, as more clients ask us for help beyond what we’ve been capable of providing,” the firm states, on its website. “The demand for integrated financial planning, concierge banking and wealth management solutions is at an all-time high, as a void has been created in the market and we determined that it was time to take action.”
The new wealth management firm will provide a range of financial planning and consulting services, including business planning, cash flow forecasting, trust and estate planning, financial reporting, investment consulting, insurance planning, retirement planning, risk management, charitable giving, distribution planning, tax planning and education planning.
WaFd is a publicly traded consumer bank with about 208 branches across nine Western states, including Washington, Oregon, Arizona, California and Nevada to name a few. It is the second-largest bank headquartered in Seattle, with $26.7 billion in total assets, according to an investor presentation.
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