US asset management firm begins to use Bitcoin
Private wealth management firm Wedmont Private Capital purchased 3,471 shares of Fidelity Wise Origin Bitcoin Fund (FBTC) worth $209,336, according to a recent regulatory filing.
Wedmount's selling point is its flat fee of $10,000, which should set it apart from competitors who offer asset-based fees.
The firm targets high-net-worth individuals with more than $1 million in investable assets, according to the company's website.
The firm is co-founded by Dominic Corabi, former head of financial advisory services at Vanguard, and James Pelletier, former vice president of UHNW at UBS.
They met while working at Swiss global investment bank and financial services firm Credit Suisse.
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