---
title: $1B Wells Fargo Team Shifts to Seventy2 Capital
description: "FA/RIA Moves & Acquisitions: $1B Wells Fargo Team Shifts to Seventy2 Capital"
---

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# [$1B Wells Fargo Team Shifts to Seventy2 Capital](https://dakotafunds.com/dakota-funds/fundraising-news/1b-wells-fargo-team-shifts-to-seventy2-capital)

 Written by [John Washington, Data Research Analyst](https://dakotafunds.com/dakota-funds/author/john-washington-data-research-analyst) | March 27, 2024

Seventy2 Capital, within Wells Fargo, has welcomed its largest team from Wells Fargo’s Wealth Brokerage Services. The team, based in Red Bank, New Jersey, manages approximately $1 billion in assets. 

This move marked the establishment of Seventy2's first office in New Jersey. The team is spearheaded by James S. McCarthy, a 27-year industry veteran who spent the last 23 years at Wells Fargo, alongside advisors Alex Eljdid, Joseph Hanney, and three support staff members. McCarthy joins Seventy2 as a Senior Managing Director, and holds CIMA and CRC designations. 

McCarthy had considered going independent but chose to transition to FiNet within Wells Fargo, showing a blend of independence and loyalty to the company. McCarthy selected Seventy2 for the support in asset management, marketing, and compliance it offered, despite the absence of a recruiting bonus for internal transfers. Seventy2 Capital has been attracting transfers from other divisions within the bank's wealth management sector.

[View full post](https://dakotafunds.com/dakota-funds/fundraising-news/1b-wells-fargo-team-shifts-to-seventy2-capital)

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