FBB Capital Partners

FBB Capital Partners

FBB Capital Partners was founded in 2000 by Managing Partner Mitch Schlesinger as a fee-only registered investment advisor headquartered in Bethesda, Maryland. The firm emerged from a breakaway-broker model, separating from a commission-based wirehouse to build an independent practice where investment decisions are untethered from product sales. Since inception, FBB has positioned itself as a fiduciary serving high-net-worth individuals, families, and select institutions across the Washington, D.C., metro area and beyond. The firm manages discretionary portfolios across equities, fixed income, and alternative investments, with a heavy emphasis on passive strategies and direct indexing to minimize expense ratios and maximize after-tax returns. FBB constructs globally diversified allocations using ETFs and individual securities, steering clients toward liquid, transparent vehicles rather than illiquid private funds. The firm has historically avoided concentrated sector bets, instead relying on factor tilts and strategic rebalancing to capture risk premia over full market cycles. Its investment committee oversees asset allocation decisions centrally, while client-facing advisors tailor implementation to individual tax situations and liquidity needs. As a mid-sized RIA, FBB Capital Partners operates with a lean team of advisors and investment professionals from its single Bethesda office. The firm has not publicly disclosed total assets under management, regulatory filings suggest an RIA with a substantial but not multi-billion-dollar book, serving a concentrated client base characteristic of firms built on trusted, long-tenure relationships. In 2016, the firm launched the FBB Capital Partners Charitable Giving Fund, a donor-advised fund platform that integrates philanthropic planning directly into the wealth management workflow. The firm has not raised external institutional vehicles or expanded into adjacent operating businesses. FBB's structural differentiator lies in its pure fee-only, discretionary architecture — an approach that became the industry standard in the decade following its founding but was rare among independent RIAs in 2000. The firm never accepted commissions or revenue-sharing, distinguishing it from broker-dealer hybrids and large bank wealth arms that dominate the D.C. corridor. Governance and succession are concentrated with founding leadership, a characteristic common among mid-sized RIAs that have not yet transitioned to a multi-partner equity model or external capital structure.