An advisor who oversaw $1.2 billion joined Verdence Capital, a $2 billion RIA with ambitious growth plans.
Meg Sheil-Puopolo, who previously worked at Fidelity Investments, joined Verdence in Baltimore where she will serve high-net-worth clients and families. Hires such as Sheil-Puopolo are key to Verdence’s expansion efforts, says CEO Leo Kelly.
Verdence, which was
“What we know is that as we grow AUM, it affords us the resources to build out this offering,” Kelly says.
The move comes on the heels of a number of
But recent departures from the Broker Protocol have complicated some of these career transitions. For instance, non-protocol member firm Morgan Stanley
For her part, Sheil-Puopolo says she was drawn to Verdence because of its resources, corporate environment, fiduciary status and the opportunity to be part of something “growing from the ground up.” She knew of Verdence because of her friendship with the firm’s COO.
“I met with the team and I was really impressed with them and their unique way of doing planning. It’s really collaborative,” she says.
Eric Fenton, Principal of Insurance Consulting at EPAM and a 2024 Global Insurtech Influencer Award Winner, is a strategic visionary focused on AI, innovation and emerging trends in the insurance and Insurtech landscape. A certified automation
professional with over 25 years of experience, he leverages deep industry expertise and
EPAM's multidisciplinary, end-to-end capabilities to deliver high-impact technology
solutions that create strategic value for insurance companies. Eric collaborates closely
with business and technical stakeholders, aligning people, processes, and technology to
drive enterprise-wide transformation.
Investors are increasingly turning to generative AI for financial advice, according to a Betterment survey. Advisors say tools like ChatGPT can provide useful information to investors, but they rarely understand a client's whole picture.
Companies that pay out a portion of their profits to shareholders instead of reinvesting in their business may seem compelling on the surface, but advisors with experience with these strategies say they aren't right for everyone.
Kelly says he was “excited” about the prospect of hiring after that meeting. “She passed the first and foremost important test: She fit the culture. She was client first, and passionate and caring. You can’t fake passion and caring.”
Sheil-Puopolo had been with Fidelity for 18 years, having transitioned into financial planning after working as a molecular biologist.
Sheil-Puopolo says preferred affiliating with an existing RIA to starting her own because she didn’t want to be tied down with burdens of running a firm. “I enjoy getting to know my clients, planning and building relationships. That’s what I wanted to be at the forefront of what I am doing.”
Her move to Verdence follows the firm’s hiring in March of former NFL player Noel LaMontagne, who now serves as a client relationship manager focused on sports and entertainment.
Verdence, which is headquartered in Hunt Valley, Maryland, also has two offices in Northern Virginia.
