Former Fidelity EVP Joins Fast-Growing Florida RIA
Palm Beach Gardens, Fla. (Marketwire) January 25, 2013—Banyan Partners, LLC (www.BanyanPartners.net), a rapidly-growing billion dollar investment advisory firm specializing in customized investment portfolios, announced today the hiring of Scott Dell’Orfano as the company’s Chief Strategic Officer, effective immediately. Scott will become a Principal and head the firm’s corporate strategy and acquisition team.
Mr. Dell’Orfano joins Banyan as a principal following an eight-year tenure as Executive Vice President of Fidelity Investments Institutional Wealth Services Group, where he oversaw the growth of Fidelity’s RIA business to $600 billion in RIA-custodied assets from $100 billion in 2004.
“I wore a number of different hats at Fidelity in my eight years with the firm,” said Dell’Orfano, “but anyone that has worked with me knows my true passion is in building businesses.”
Founder and CEO of Banyan Partners, Peter J. Raimondi, said, “As Banyan Partners continues its aggressive growth plans in the wealth management space, Scott Dell’Orfano’s knowledge of the industry, experience in running large, growth-oriented businesses, and his relationships throughout the RIA community are second to none.”
The addition of Scott Dell’Orfano comes on the heels of Banyan’s recent announcement of expansion capital through their strategic partnership with Temperance Partners.
“Banyan’s goal has always been to build a world-class investment advisory firm,” said Raimondi. “After successfully completing four acquisitions over the past four years, we are committed to accelerating that effort both strategically and geographically. There is no better person than Scott Dell’Orfano to help lead our firm in this effort.”
Headquartered in Palm Beach Gardens, Florida, and with six branches in key financial regions, Banyan Partners has grown from $30 million in assets under management at its founding in 2006 to $1.3 billion in assets under management as of December 31, 2012 through acquisitions and organic growth.
“Banyan has built an incredible business in a very short period of time. Of all the opportunities I considered as possible next steps, joining Banyan and helping continue the firm’s explosive growth really excited me,” said Dell’Orfano. “Having helped to influence and consult to hundreds, if not thousands, of RIA firms over the last 23 years, I thought it was time to ‘eat my own cooking’ and focus my energy on the continued build out of one firm. Banyan has an incredible vision, incredible people, and great leadership. Simply put, it’s infectious. Most importantly, Banyan operates as a true institutional company and not as a small lifestyle firm. I am excited to be a part of it.”