William Blair scores $1.2B multigenerational team

James Fernberger, wealth advisor at Fernberger Wealth Management.

The firm expands its private wealth presence in Philadelphia, Pennsylvania with a veteran trio of high-net-worth advisors from Raymond James.

Global investment and wealth firm William Blair has enhanced its presence in the Northeast US as it welcomes a boutique high-net-worth practice.

The firm announced late Monday that it has enriched its private wealth management business with the addition of Fernberger Wealth Management, led by wealth advisor James Fernberger, along with his sons Alex Fernberger and Zach Fernberger.

Based in Philadelphia, the trio joined William Blair from Raymond James, where they managed client assets totaling $1.2 billion.

“The addition of Jim, Alex, and Zach continues our growth trajectory with a multigenerational team of veteran advisors,” Ryan DeVore, head of private wealth management at William Blair, said in a statement.

DeVore emphasized the team’s commitment to their clients and their tailored approach to investment guidance and wealth planning.

James Fernberger brings over four decades of experience in advising a well-heeled client base that includes high-net-worth individuals, executives, family offices, endowments, and corporations. His extensive background includes senior roles at Merrill Lynch and Advest, Inc.

As team lead at Fernberger Wealth Management, Jim will focus on developing personalized investment solutions and overseeing client service.

Focusing on both short and long-term financial planning, Alex Fernberger has spent over a decade in wealth advisory, including a stint at Merrill Lynch prior to his time at Raymond James. Zach Fernberger also brings a decade of experience, with a resume that includes WisdomTree Asset Management and AXA Advisors.

“We are thrilled to join Private Wealth Management at William Blair, a respected firm that combines a comprehensive, independent, and growth-minded platform with the hands-on approach and culture of a boutique,” the multigenerational team said in a joint statement.

As of March 31, 2024, William Blair reportedly managed approximately $70.3 billion in private wealth assets.

The firm has seen significant growth in its wealth management business, adding advisors across major US wealth hubs including Atlanta, Baltimore, and New York over the past decade.