SVB Wealth Advisory

The registered investment advisor was not included in the bridge bank asset transfer to First Citizens BancShares. Its custodial assets were caught in the FDIC receivership, and advisory clients lost access to managed portfolios for a period. The entity did not continue as a going concern; its operational existence effectively terminated when the parent failed (per FDIC receivership filings, 2023).

Legally yes — it was an SEC-registered investment advisor, bound by the Investment Advisers Act of 1940. In practice, its integration with the parent's private bank and securities arm meant that custody, clearing, and referral flow were internal. Client agreements typically designated SVB's own entities for execution and custody, which created acute counterparty risk during the March 2023 run.

Founders, senior executives, and general partners of venture-backed companies made up the core client base. The firm also managed assets for venture capital and private equity firms that banked with SVB, often constructing bespoke treasury management and wealth integration programs around liquidity events.

Yes. SVB Capital managed venture capital and private credit funds that were regularly allocated into client portfolios. The advisory's independence as a fiduciary was frequently questioned in the aftermath of the bank's failure, given the concentration of client assets in affiliated private investment vehicles (per The Wall Street Journal, March 2023).

Some client assets were eventually released by the FDIC, but the book of advisory relationships fragmented. Former SVB wealth management advisors moved in large numbers to First Republic Bank, JP Morgan Private Bank, and independent firms. There was no single acquirer of the RIA, making the dissolution a dispersed, advisor-by-advisor migration rather than a portfolio sale.