# FBB Capital Partners FBB Capital Partners is a Bank / Wealth / Trust based in Bethesda, United States. ## Overview - **Organization type:** Bank / Wealth / Trust - **Headquarters:** Bethesda, United States - **Region:** North America - **Address:** Bethesda, MD, United States - **Founded:** 2000 - **Assets under management:** $500M – $1B (Altss estimate) - **Website:** fbbcapitalpartners.com - **LinkedIn:** https://www.linkedin.com/company/fbb-capital-partners ## Regulatory record - **CRD number:** 108967 - **SEC file number:** 801-57836 - **Registration status:** APPROVED - **Latest Form ADV filing:** 2026-03-09T05:00:00.000Z - **Reports private funds:** No - **Private funds reported:** 0 ## About 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. 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. ## Sectors - Wealth Management ## People - Mitch Schlesinger — Managing Partner ## Questions ### Who makes investment allocation decisions at FBB Capital Partners? The firm's investment committee, led by Managing Partner Mitch Schlesinger, centrally determines asset allocation and portfolio construction parameters. Client-facing advisors then implement these models with adjustments for individual tax situations, liquidity needs, and concentrated stock positions. FBB does not outsource its investment committee function to a third-party strategist or TAMP. ### Does FBB Capital Partners manage institutional money or only private wealth? The firm's primary client base consists of high-net-worth individuals and families, with a smaller subset of institutional relationships including nonprofit organizations. FBB has not publicly marketed pooled institutional vehicles or separate accounts for pension plans, endowments, or sovereign entities. ### What is FBB's approach to direct indexing and passive strategies? FBB heavily emphasizes passive implementation through ETFs and direct indexing for taxable accounts, where the ability to harvest losses at the individual-security level adds measurable after-tax value. The firm considers active management selectively in asset classes where manager skill has shown persistent alpha, but the baseline portfolio assumption is low-cost passive exposure. ## Related profiles - [Fazz Financial Group](https://altss.com/profile/fazz-financial-group) - [FBD Asset Mgmt](https://altss.com/profile/fbd-asset-mgmt) --- Updated: 2026-08-11T02:43:31.692Z Canonical page: https://altss.com/profile/fbb-capital-partners Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology