Abbott Downing

Overview

FINRA’s employment record names the business “ABBOTT DOWNING, A WELLS FARGO BUSINESS.”¹ Wells Fargo introduced Abbot Downing after merging two legacy family-office businesses.² Wells Fargo later announced that Abbot Downing would be rebranded under the Wells Fargo Private Bank brand.²

History

Jim Steiner helped create Abbot Downing by combining Lowry Hill with two other Wells Fargo wealth businesses.³ Lowry Hill was the Minneapolis predecessor.⁴ Jim Steiner was identified as a leader involved in the firm’s growth.⁵

Leadership

Julia Wellborn was named head of Wells Fargo private wealth management, including Abbot Downing.⁶ Jack Ginter served as president of Abbot Downing.⁷ Valerie S. Peters held the title Senior Vice President and Head of Relationship Services.⁸ She was described as an operations leader for the Wells Fargo business.⁸ Nhaman Pelphrey held the title Relationship Manager in the Los Angeles office.⁹ He managed complex multigenerational relationships for ultra-high-net-worth families.⁹

Services

Services included trust, investment and fiduciary services.² Teams served families through asset management, trust, fiduciary and administrative services.¹⁰ The business also provided private banking and custom credit solutions.¹⁰ Its services included planning, family-dynamics and family-business consulting.¹⁰

What the firm offers

• Investment management
• Trust and fiduciary
• Administration and bill pay

Client focus

Wells Fargo said the business focused on the specialized needs of ultra-high-net-worth clients.² Its stated client groups included ultra-high-net-worth individuals, families, foundations and endowments.² Pelphrey’s work included complex multigenerational relationships for ultra-high-net-worth families.⁹

FAQs

Related resources

• LocationMultifamily offices in Minneapolis

  This Minneapolis directory helps readers compare firms serving wealthy families and business owners in the region. It provides local context for evaluating investment management, trust and fiduciary work, administration, and bill pay when considering a provider such as Abbot Downing.

• Network siteEstatePlanner.com

  EstatePlanner.com offers practical guides on wills, trusts, and related planning decisions. A family considering Abbot Downing's trust, fiduciary, and administrative services can use these materials to clarify needs before discussing estate structures, succession plans, or ongoing responsibilities with a professional.

• Network siteFamilyOffices.com

  FamilyOffices.com provides resources and a community for single family offices and wealthy families. Its discussions can help readers understand how investment oversight, private administration, fiduciary duties, and family governance may fit together for households seeking services like those described for Abbot Downing.

• GuideThe annual MFO review

  The annual MFO review gives readers a recurring view of developments affecting multifamily offices and their clients. Reviewing it can help a family or business owner frame questions about investment management, trust services, credit, administration, and the changing needs of ultra-high-net-worth households.

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  Profiles of Okabena Company and Okabena Investment Services, Inc., Olson Wealth Group, and Sawmill Trust Company offer comparison points within this site's firm directory. Readers can examine differences in service focus and client orientation while considering how investment, trust, fiduciary, and administrative needs might be handled.

Sources

1. FINRA employment record , accessed 2026.
2. Wells Fargo rebrand announcement , accessed March 11, 2021.
3. Jim Steiner profile , accessed October 14, 2026.
4. Star Tribune report , accessed 2012.
5. Star Tribune report , accessed 2012.
6. InvestmentNews report , accessed July 25, 2019.
7. AdvisorHub interview , accessed 2023.
8. The Glass Hammer interview , accessed 2019.
9. Los Angeles Business Journal profile , accessed September 21, 2020.
10. Wells Fargo services announcement , accessed 2016.

Claim or correct this profile

This profile is a factual summary written in our own words from public sources. It is for information only. It is not an endorsement, rating, ranking or recommendation, and it is not investment advice. MultiFamilyOffices.com is not affiliated with the SEC or with this firm unless stated. Form ADV figures are self-reported by the firm.