GREENWICH, CT--(Marketwired - November 09, 2016) - Fieldpoint Private, the fast-growing wealth advisory and private banking firm serving ultra-high-net-worth families and institutions, today announced that Juan Castañeda has joined the firm as Managing Director and Senior Advisor. His practice is based in Fieldpoint Private's New York City office.
Mr. Castañeda joins Fieldpoint following a decade with UBS, where he served in a series of positions on behalf of Latin American families and institutions. Most recently, he was Executive Director of Emerging Market Credit Sales and Head of Latin America. In that role he worked with family offices, banks and pension funds across a range of capital markets and structured lending services. Prior to that, Mr. Castañeda was Executive Director and Head of Latin America for UBS's Global Relationship Banking unit, based in Sao Paolo, Brazil, and a director in that business unit's New York office, developing institutional relationships across Mexico, Central America and the Caribbean.
Mr. Castañeda said he came to Fieldpoint because he was looking for a firm in which putting the client first is a matter of practice, rather than simply rhetoric. "I had grown concerned about conflicts of interest and perverse incentives in large, traditional firms," said Mr. Castañeda, noting that Fieldpoint Private is unusual in that it is fully unconflicted, with no in-house investment products and a strict philosophy against revenue-sharing arrangements with money managers.
"My clients have always had to accept the reality that having investment assets with big banks means tolerating conflicts of interest, whether with in-house products or so-called 'open architecture' platforms that collect fees from money managers," he added. "They have become so accustomed to this, frankly, that it takes them a little while to fully realize that it doesn't have to be this way."
Fieldpoint Private President and CEO Robert Matthews said that Mr. Castañeda's Latin American clientele is feeling increasingly unwelcome at larger global banks. "Conflicts of interest are only part of this picture. More and more, the major global banks are creating hurdles for international clients who wish to do business with them, from shutting down advisor teams to asking clients directly to take their business elsewhere," he said. "We welcome this business, and we're so pleased that Juan has decided that Fieldpoint is the right home."
About Fieldpoint Private
Headquartered in Greenwich, Connecticut, Fieldpoint Private (www.fieldpointprivate.com) is a boutique financial firm providing the highest degree of personalized, confidential wealth planning and private banking services. Catering to highly successful individuals, families, businesses and institutions, Fieldpoint Private offers a powerful combination of wealth management and strategy, family office, private banking and business banking services addressing every financial need for each of our clients including: wealth transfer advice, tax planning, aggregation and performance reporting, risk management, goals-based investing strategies, sophisticated investment selection, discreet and personalized banking, highly customized credit solutions, custom custody and trust solutions, highly attentive/responsive service and concierge services.
Fieldpoint Private was established in 2008 by 31 Founders with a specific vision and purpose. These extraordinary leaders of industry and community recognized the opportunity to create a financial firm totally attuned to people's individual circumstances. Our firm is built on a philosophy of exclusive membership and client-centricity. Working with a limited number of relationships gives every person the experience of belonging to an extremely selective group. The result is a new breed of institution established on the basis of personalization, responsiveness, and exclusivity, and an ensured commitment to impeccable service and consistently flawless execution. Our service approach offers a unique client experience custom crafted to each client's financial needs.