Ascent Private Capital Management, the ultra-high-net-worth business of U.S. Bank, is rounding out its national team of wealth experts. The unit appointed a former history professor to a new position as head of Family History, marking Ascents latest move to build out its services beyond traditional wealth management.
Karen McNeill will work directly with ultra-high-net-worth families and will be part of Ascents Wealth Impact Planning team, U.S. Bank announced Tuesday. She will help families uncover and construct family and business histories and deliver them in live presentations, often at family meetings or retreats, U.S. Bank said in the announcement.
The addition of Karen to the Ascent team underscores the firms commitment to helping families preserve wealth across generations, in this instance by researching, understanding and building out the family narrative as a tool for facilitating discussions about wealth, Scott Winget, senior managing director of Wealth Impact Planning, said in an email.
Prior to joining Ascent, McNeill taught history at the University of California, Berkeley, the University of the Pacific, Ohlone College, and the Academy of Art University. She has also served as senior historian/architectural historian at Carey & Co. in San Francisco, where she was a consultant for many private and public individuals. McNeill has more than 15 years of experience in working on personal history projects with individuals as well as with private and public sector organizations, according to U.S. Bank.
McNeill, who is based in San Francisco, is a part of a national team of experts that Ascents client-interfacing professionals often tap for specialized expertise in areas that range from law and accounting to organizational psychology and genealogy. The team currently has 33 members, according to Ascent.
Since Ascent was formed two years ago, the firm has pushed into family dynamics, family governance and what it broadly calls wealth impact planning, the new frontier in wealth planning for the super wealthy. It recently opened a new office in San Francisco, bringing the total number of offices to five. The other locations are in Minneapolis, Denver, Seattle and Cincinnati.
Ascent defines ultra-high-net-worth clients as those with more than $50 million in net worth. It is part of U.S. Bank's Wealth Management Group.