Fidelis Capital has appointed Herb Achey as a partner, bringing in a veteran wealth manager with 45 years of experience serving ultra-high-net-worth individuals, multi-generational families, and family offices.
Achey joins from U.S. Trust, now part of Bank of America Private Bank, where he spent the last 30 years as an investment strategist. In his most recent role, he managed over $2 billion in client assets, specializing in equity research and stock allocation for actively managed accounts. His work involved creating strategies for concentrated holdings—portfolios built around a small number of high-conviction investments.
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A career built on deep client relationships
Before U.S. Trust, Achey worked at Wells Fargo for three years as a high-net-worth portfolio manager. Earlier, he led equity research and portfolio management at Bethlehem Steel Pension Trust, handling $3 billion in internally managed assets. He also held a position at PNC Bank as a high-net-worth portfolio manager.
At Fidelis, he will serve on the investment committee with former executives from Bank of America and Wells Fargo Private Bank. Two of his new colleagues—Neale Ellis, founding partner and co-chief investment officer, and Chris Gunster, partner and head of fixed income—are also former U.S. Trust colleagues. The firm, established nearly four years ago, oversees close to $3 billion in assets for ultra-high-net-worth clients and institutions.
Rick Simonetti, Fidelis’ founding partner and CEO, noted that Achey could have started his own firm or pursued other opportunities. Instead, he chose Fidelis because, as Simonetti explained, “he recognized we’ve built something special.” The firm emphasizes a return to what Simonetti describes as “the original promise of private banking”—treating clients like family and customizing services to their needs.
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For families with generational wealth, consistency often separates good advisors from great ones. Achey’s philosophy aligns with this belief: “There’s no room for occasionally great in this business,” he said. His approach prioritizes moral courage—doing what’s right even when unobserved—and a focus on steady reliability over occasional brilliance.
Achey’s role begins immediately. He will work from the firm’s main office, though Fidelis did not disclose the specific location.