Michael Caffey joins the TX community bank's private-client team in Lubbock. PlainsCapital Bank says it's seeing an increase in wealth-management business from disaffected former clients of big-name financial institutions. As a direct result of this hike in demand, the Dallas-based bank has added Michael Caffey, a certified trust and financial advisor, to its wealth-management team in Lubbock, Texas.

"We've gained new clients who have lost confidence in the financial markets," said Tonda Whitt, senior vice president and manager of PlainsCapital Wealth Management's Lubbock market. "Investors are bringing their trust and wealth-management business home to people they know and trust.

Above and below

Adds Whitt: "We invest a lot of time getting to know our clients' dreams, concerns and risk tolerance; we don't [use] a 'one size fits all' approach in creating [plans] for our clients."

Part of PlainsCapital Bank's approach to wealth-management stems from business services related to the oil and gas industries.

"I don't think you can be in this area and have a successful wealth-management practice if you only want to deal with cash, stocks and bonds," PlainsCapital Bank's wealth- and investment-management head John Taylor told the Fort Worth Business Press last week. "You have to deal with the thing that really made this part of Texas famous, and that is the land as well as the minerals that are under that land."

Caffey, a 12-year veteran of the wealth-management business, comes to PlainsCapital from First Financial Trust in Abilene, Texas, where he was head of employee benefits. Before that, he was an Austin, Texas-based trust officer for Wells Fargo, and he worked in trust operations at Frost National Bank in Austin.

PlainsCapital Bank is a subsidiary -- along with First Southwest, PrimeLending and Hester Capital Management -- of Dallas-based PlainsCapital Corporation, an diversified independent financial institution with assets of $4 billion, 2000 employees and 137 locations in 23 states. -FWR

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