Washington Federal Bank (WaFd) has filed with the Securities and Exchange Commission to launch WaFd Wealth, a new Seattle-based registered investment advisor. According to an ADV filing, the new entity has selected Goldman Sachs Advisor Solutions to provide custody services.
The firm will be led by a team of veterans from Merrill Lynch. John Chavez, with 30 years of experience at Merrill, has been appointed CEO, while Bobby Campbell, who spent 15 years at the firm, will serve as president. They are joined by several other former Merrill Lynch colleagues: Danny Law as director of relationship management, Belle Jimeno as director of client services, and Liz Parris as director of executive initiatives.
Rounding out the leadership team is Shane Parris, who will serve as chief operating and financial officer. He was previously an executive at enlyte, a technology and services provider for the insurance industry.
On its website, WaFd Wealth stated the launch was a response to growing client demand for integrated financial services. “The demand for integrated financial planning, concierge banking and wealth management solutions is at an all-time high,” the firm noted, adding that it determined it was “time to take action” to fill a void in the market.
WaFd Wealth will offer a broad suite of financial planning and consulting services, including business planning, investment consulting, retirement and estate planning, risk management, and charitable giving strategies.
Its parent company, WaFd, is the second-largest bank headquartered in Seattle, holding approximately $26.7 billion in total assets. The publicly traded consumer bank operates around 208 branches across nine western states.
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