Boston Private Financial Holdings

Boston Private Financial Holdings was a Boston-based wealth management and private banking organization serving high-net-worth individuals, families, businesses, entrepreneurs, and nonprofits across New England, New York, and Los Angeles; following its 2021 SVB acquisition and the 2023 FDIC-assisted transfer to First Citizens BancShares, it now operates within the First Citizens Wealth platform.

Company typePublic
Founded1898
HeadquartersBoston, United States
Headcount501–1,000
GTM typeB2B and B2C
OfferingServices

What Boston Private Financial Holdings does

Boston Private Financial Holdings was a Boston-headquartered wealth management and private banking organization founded in 2003 that operated affiliates across New England, New York, and Los Angeles. The company served high-net-worth individuals and families, businesses and corporations, entrepreneurs and founders, and nonprofit organizations, delivering an integrated suite of services including trust and fiduciary services, investment solutions, private banking, institutional asset management, estate and retirement planning, charitable planning, tax planning, and business succession planning. Its core products were relationship-driven advisory and banking services rather than technology platforms, supported by digital tools such as NetXInvestor brokerage access and MoneyGuidePro financial planning — both third-party integrations rather than proprietary AI capabilities.

In 2021 Boston Private was acquired by SVB Financial Group to expand SVB's East Coast wealth presence. Following the March 2023 collapse of SVB, the Federal Deposit Insurance Corporation facilitated an assisted transaction in which First-Citizens Bank & Trust Company acquired SVB's assets and operations. Boston Private is now fully integrated into First Citizens BancShares' wealth management division, operating under the First Citizens Wealth brand alongside affiliated entities First Citizens Investor Services (broker-dealer, FINRA/SIPC member), First Citizens Asset Management (SEC-registered RIA), SVB Wealth LLC (SEC-registered RIA), and First Citizens Delaware Trust Company. The entity is delisted from NASDAQ (former ticker BPFH) and no longer reports standalone financials. As of 2024-2025, the legacy Boston Private client base is served through First Citizens' multi-channel distribution — direct advisory relationships, digital self-directed investing, online brokerage, and consolidated personal/small business/commercial banking — with content marketing via the Building More Than Business podcast, Beyond Wealth Report, INTEL Insights, and the Making Sense quarterly market outlook library. The Holding family's fourth-generation involvement at First Citizens and the multi-affiliate regulatory structure (FDIC, FINRA, SEC, SIPC) are cited as differentiators supporting client retention through multiple ownership transitions.

Boston Private Financial Holdings firmographics

Firmographics

Name: Boston Private Financial Holdings
Legal name: First Citizens BancShares, Inc.
Website: https://bostonprivate.com
Company type: Public
Founded year: 1898
Operating status: Operating
Headcount range: 501–1,000 employees
Short description: Boston Private Financial Holdings was a Boston-based wealth management and private banking organization serving high-net-worth individuals, families, businesses, entrepreneurs, and nonprofits across New England, New York, and Los Angeles; following its 2021 SVB acquisition and the 2023 FDIC-assisted transfer to First Citizens BancShares, it now operates within the First Citizens Wealth platform.
Ownership category
akta.pro rank

Boston Private Financial Holdings industry classification

Industry

Product category: Wealth Management
NAICS: Portfolio Management and Investment Advice (523940), Trust, Fiduciary, and Custody Activities (523991)
SIC: Investment Advice (6282), State Commercial Banks (6022)
akta.pro primary industry: Private Banking & UHNW Wealth Advisory (FSAEABAC)
akta.pro secondary industries: Affluent / Mass-Affluent Private Banking (FSABADAC), Private Banking Advisory & Discretionary Portfolio Management (FSABADAD), Private Banking Business Owners & Entrepreneur Solutions (Liquidity Events, Pre-IPO) (FSABADAK), Corporate & Institutional Trust Services (FSAAANAB)

Keywords

Wealth management services
Private banking
Trust and fiduciary
Investment advisory
Commercial banking

Where Boston Private Financial Holdings is headquartered

Location

Headquarters

HQ city: Boston
HQ country: United States
HQ region: North America

Markets served

Boston Private Financial Holdings business model

Business model

GTM type: B2B and B2C
Offering type: Services
Cost components: Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Distribution channels4 records

Marketing channels5 records

Boston Private Financial Holdings product offering

Product offering

Core offering

Boston Private Financial Holdings, operating today as First Citizens Wealth, is a wealth management and private banking organization that delivers integrated financial services to high-net-worth individuals, families, business owners, and institutions. Core offerings span trust and fiduciary services, investment advisory solutions, private banking (deposits, mortgages, securities-backed lending), institutional asset management, wealth and business planning, and complementary personal, small business, and commercial banking products delivered through affiliated broker-dealer and SEC-registered investment advisor entities.

Product overview

First Citizens Wealth operates as a comprehensive financial services platform offering integrated wealth management, private banking, and commercial banking solutions. The core product portfolio includes Trust & Fiduciary Services, Investment Solutions, Private Banking, Institutional Asset Management, and Wealth & Business Planning. These are complemented by Personal Banking (checking, savings, credit cards, mortgages, retirement accounts), Small Business Banking (cash management, credit, risk management), Commercial Banking (lending, treasury management), and Insurance products. The services are delivered through First Citizens BancShares, Inc. with affiliated entities including First Citizens Investor Services, Inc. (broker-dealer), First Citizens Asset Management, Inc., and SVB Wealth LLC (SEC-registered investment advisors).

Differentiator

Problem solved

Functional benefit

Brands

First Citizens Wealth: Marketing brand of First Citizens BancShares, Inc. offering wealth management, investment advisory, brokerage, and insurance products and services.
First Citizens Investor Services

Products and services

Trust and Fiduciary Services Comprehensive trust and fiduciary services including Delaware Trust Services for high-net-worth clients, providing wealth preservation and legacy management.
Investment Solutions Professional investment advisory services and donor advised fund offerings for strategic wealth allocation and philanthropic planning for individuals and families.
Private Banking Banking services for high-net-worth individuals including deposit solutions, private mortgage lending, securities-backed lines of credit, and customized lending.
Institutional Asset Management Services for institutions including retirement plan services, charitable advising services, and institutional custody services.
Wealth and Business Planning Integrated planning services covering estate planning, retirement planning, charitable planning, tax planning, protection planning, and business planning for individuals and business owners.

Companies that use Boston Private Financial Holdings

Customer profile

Segments4 records

Ideal customer profiles5 records

Boston Private Financial Holdings technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Boston Private Financial Holdings partnerships and signals

Strategic signal

Partnerships

Four partnerships are on record, tiered core.

FINRA (Financial Industry Regulatory Authority)coreOthersBrokerage products and services offered through First Citizens Investor Services, Inc., a registered broker-dealer and Member FINRA.
SIPC (Securities Investor Protection Corporation)coreOthersFirst Citizens Investor Services is a Member of SIPC, providing investor protection for securities accounts.
FDIC (Federal Deposit Insurance Corporation)coreOthersBanking products offered by First-Citizens Bank & Trust Company, Member FDIC.
SEC Registered Investment AdvisorscoreOthersAdvisory services offered through First Citizens Investor Services, First Citizens Asset Management, Inc., and SVB Wealth LLC, all SEC-registered investment advisors.

Recent moves6 records

Expansion highlights5 records

Boston Private Financial Holdings competitors and assessment

Company assessment

Others

Citi Private Bank:

Broad incumbents

Goldman Sachs Private Wealth Management: Private wealth arm of a global investment bank providing customized investment, banking, and planning solutions to UHNW individuals and families. Comparable private banking, investment advisory, and trust-like offerings for the same HNW persona.
BNY Mellon Wealth Management: Major wealth manager inside a global custody bank, offering private banking, investment management, trust, and estate planning for UHNW clients. Overlaps with Boston Private's private banking, institutional custody, and trust services, with significantly larger scale.
Northern Trust: Large, established wealth and asset manager serving UHNW and institutional clients with private banking, trust, custody, and investment services. Directly comparable to Boston Private's integrated HNW wealth + trust offering, with broader scale and global reach.
JPMorgan Private Bank: Global private bank serving UHNW clients with banking, investment, lending, and wealth planning services, now including the integrated First Republic franchise. A benchmark competitor for integrated HNW private banking.
Bank of America Private Bank (U.S. Trust): National private bank within a major retail/commercial franchise providing wealth structuring, private banking, and investment solutions to HNW and UHNW households. Comparable to Boston Private's affluent/mass-affluent private banking proposition, with broader geographic coverage.

Direct peers

Bessemer Trust: Privately-held multifamily office focused exclusively on HNW and UHNW families, providing investment management, trust, estate, and family office services. Closest direct peer to Boston Private's Trust & Fiduciary and Wealth & Business Planning suite.
Raymond James Private Client Group: Mid-sized wealth and investment services franchise providing private banking, investment advisory, trust, and financial planning to affluent individuals and business owners. Closely aligned with Boston Private's middle-market, business-owner-focused wealth positioning.
Brown Brothers Harriman: Private partnership providing private banking, wealth management, custody, and investment services to HNW families and institutions. Closely mirrors Boston Private's integrated trust, custody, and private banking platform.

Emerging players

Charles Schwab Private Client: Mass-affluent to HNW wealth offering within a large retail brokerage platform, with self-directed, guided, and advisor-led tiers. Directly comparable to Boston Private's digital self-directed + guided investing + dedicated advisor hybrid model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Boston Private Financial Holdings compliance and trust

Trust signal

Compliance5 records

Boston Private Financial Holdings financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Boston Private Financial Holdings leadership team

Management profile

Number of profiles

Boston Private Financial Holdings subsidiaries and ownership

Company hierarchy

Subsidiaries6 records

Boston Private Financial Holdings funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Boston Private Financial Holdings M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Boston Private Financial Holdings

What does Boston Private Financial Holdings do?

Is Boston Private Financial Holdings a public or private company?

Boston Private Financial Holdings is a public company. It is classified as public and is currently operating.

When was Boston Private Financial Holdings founded?

Boston Private Financial Holdings was founded in 1898. It employs 501 to 1,000 people.

Where is Boston Private Financial Holdings based?

Boston Private Financial Holdings is headquartered in Boston, United States, in the North America region.

Who are Boston Private Financial Holdings's main competitors?

Citi Private Bank is listed as an others. Broad incumbents are Goldman Sachs Private Wealth Management, BNY Mellon Wealth Management, Northern Trust, JPMorgan Private Bank and Bank of America Private Bank (U.S. Trust). Direct peers are Bessemer Trust, Raymond James Private Client Group and Brown Brothers Harriman. Charles Schwab Private Client is listed as an emerging player.

Does Boston Private Financial Holdings have an API?

No public API is recorded for Boston Private Financial Holdings.

What industry is Boston Private Financial Holdings in?

Boston Private Financial Holdings's product category is Wealth Management. Its primary akta.pro industry code is FSAEABAC, Private Banking & UHNW Wealth Advisory, with a secondary code of FSABADAC, Affluent / Mass-Affluent Private Banking. Its NAICS code is 523940 and its SIC code is 6282.