Ascent Private Capital Management, US Bank’s ultra high net worth business, has brought in a California-based historian as head of family history.

Ascent Private Capital Management, US Bank’s ultra high net worth business, has brought in a California-based historian as head of family history.

The firm has hired Karen McNeill to head up efforts to work with clients and research family and business histories and present these at forums such as family meetings and retreats. This is part of broader efforts at the firm, which works with clients with at least $50 million in assets, to address the impact of wealth.

McNeill joins the wealth impact planning team and reports to Scott Winget, senior managing director of wealth impact planning.

In the past, McNeill has worked in both private and academic spheres, having been the senior historian at the architectural firm Carey & Co as well as teaching at institutions including the University of California, Berkeley, where she earned her undergraduate and postgraduate degrees. She is also an authority on Julia Morgan, the first woman licensed to practice architecture in California, and the architect of many buildings associated with the Hearst family.

The hire stands out as an example of the way firms are competing to offer more than traditional wealth management. After research from Roy Williams and Vic Preisser showed the tendency of wealth to be destroyed by factors other than estate planning and investment, high-end wealth managers have sought to differentiate themselves based on their management of the subtler elements of wealth, such as its impact on family dynamics and the younger generation. This has been compounded by the generational shift underway.

One aspect of this is the continuance of a family legacy and the preservation of its history, and this has been aided by the development of new technology, with firms such as TrustedFamily developing secure online portals where families can maintain personal documents such as a family tree, photographs, and marriage and birth certificates.

“Karen is passionate about history and believes that it is important to help us understand ourselves and the world in which we live,” said Winget. “We are delighted to have such a distinguished professional join our wealth impact planning team.”