Montana community bank retains Fortigent to help it appeal to UHNW clients. Billings, Mont.-based First Interstate Bank has turned to wealth-management platform provider Fortigent in support of its bid to attract and retain more ultra-high-net-worth clients.

"Fortigent will help us cater to this market segment by enhancing our ability to evaluate traditional and alternative investment strategies and managers," says Paul McKean, head of First Interstate's wealth-management division.

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First Interstate provides financial-planning and investment-consulting services to individuals, families and related entities, targeting those with at least $25 million in investable assets.

The fact that First Interstate sees growth in this segment partly as a function of its ability to provide tailored advice on investment products and allocation strategies "closely [aligns it] with Fortigent's business model," says Fortigent's CEO Andrew Putterman.

Adds Fortigent salesman Tim Stinson: "Fortigent is in the business of helping its partners enhance their clients' wealth-management experience."

Rockville, Md.-based Fortigent is a subsidiary of Palm Beach, Fla.-based bank holding company Lydian. Originally the in-house research and investment-technology arm of Lydian Wealth Management (since sold to Los Angeles-based City National and re-named Convergent Wealth Advisors).

Fortigent has approximately $20 billion in assets on its platform.

First Interstate, a subsidiary of Billings, Mont.-based holding company First Interstate BancSystem, has 50 branches in Montana and Wyoming. Its wealth-management division has about $3.3 billion in assets under advisory. -FWR

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