Building Legacies That Last

April 1, 2025

Episode 087: On this week’s episode of The Connected Advisor, I speak with Rick Simonetti, CEO and Head of Wealth Planning at Fidelis Capital Partners, to explore what it takes to serve ultra-high-net-worth families with excellence.

Rick shares how Fidelis Capital was built on the foundation of faithfulness—delivering on promises through deep collaboration, proactive planning, and personalized service. We discuss the importance of mentorship, family meetings, interdisciplinary teams, and how true success lies in preparing future generations. From structuring internal teams to navigating external partnerships, Rick offers practical wisdom for firms looking to elevate their service model and create lasting impact for their clients.

Key Takeaways

Financial plans don’t fail because they were poorly designed—they fail because they weren’t maintained, optimized, or passed on well. Advisors should prioritize family meetings and mentorship to ensure heirs are ready to step into leadership when the time comes.

Wealth managers don’t have to do it all in-house. In fact, creating strong, collaborative relationships with attorneys and CPAs leads to better outcomes for clients and smoother execution. The key is showing you’re there to make everyone’s job easier—not replace them.

At Fidelis Capital, planning and investment professionals sit in the same meetings with clients. This integrated approach allows for real-time problem-solving, clearer communication, and a seamless experience for families. It’s a model built on visibility, not silos.

Mentorship creates real succession—not disruption. Fidelis Capital intentionally develops “next-up” advisors by embedding them in client relationships long before a transition is needed. It’s a model that preserves institutional knowledge, builds trust, and gives clients peace of mind about who’s carrying the torch next.

Quotes

“One of the foundational elements of our firm was that we wanted to be faithful to the promise of serving multiple generations.” ~ Rick Simonetti

“There’s just no better endorsement, nothing more humbling and nothing for which we’re more grateful than being able to serve families the way that we do, which results in them being thrilled to the point of saying, ‘Hey, I’m going to entrust someone I care deeply about to you.’” ~ Rick Simonetti

“Nothing replaces sitting with clients and talking through issues, hosting family meetings, having all these questions come up and then figuring out how to explain them in a way that makes the complex simple or understandable.” ~ Rick Simonetti