Pacific Northwest firms join forces to provide integrated local wealth management services
Roseburg, Oregon-based Umpqua Bank, a subsidiary of Umpqua Holdings and Ferguson Wellman Capital Management, a privately owned Pacific Northwest investment advisory firm, have formed a strategic alliance to provide personalised investment strategies and services for individuals and families. Reportedly, Umpqua Bank and Ferguson Wellman will remain independent, but will work in exclusive partnership with one another to offer customers an expanded portfolio of wealth management products and services that combines private banking and asset management.
Through this partnership, Umpqua customers and advisors now have access to Ferguson Wellman’s staff of 17 portfolio managers and analysts, as well as its proprietary financial planning tools. Additionally, it allows the bank to broaden its wealth management services to include estate planning, tax considerations, college and retirement savings, major purchase advising, charitable giving consultation and business sale assistance.
Ferguson Wellman now has the ability to recommend exclusive private banking solutions to clients seeking customised lending and depository products. Umpqua Private Bank provides tailored financial services and products to affluent clients in the greater Portland area and is part of the community bank’s broader wealth management division.
Ray Davis, president and CEO of Umpqua Bank, said: “This alliance adds one of the final elements to Umpqua’s wealth management offerings, the ability to work with a highly respected firm to provide asset management services to our clients. Through this partnership, we are uniting the expertise of two of Oregon’s most respected financial institutions. Like Umpqua Bank, Ferguson Wellman is committed both to its clients’ financial success and to the communities it serves – this is a perfect match.”
James Rudd, principal and CEO for Ferguson Wellman, said: “Ferguson Wellman is pleased to enter into a strategic alliance with Umpqua’s wealth management division. Umpqua is one of the nation’s most respected regional community banks, has a strong history of financial integrity and holds a deep commitment to client service. The values of our organizations align well with one another, and I am confident that this alliance will benefit the clients of both organizations.”