Originally published by Citywire in their Private Bank Moves section
Author Atholl Simpson

The pair collectively ran $2.5bn in client assets across their teams and have formed an independent Miami wealth firm alongside a family office specialist.

Two senior JP Morgan Private Bank executive directors have left to set up their own Miami-based RIA along with another seasoned investment industry professional.

Alexandra Valentin and Juan Carlos Freile, who had been at JPM PB in Miami for four and 12 years respectively, have founded Tiempo Capital with Philip Hackleman (pictured left), an investment professional who specializes in family offices.

At JPM PB, Valentin (pictured center) ran a team of private bankers covering clients in Puerto Rico while Freile (pictured right) managed a team catering to ultra-high net worth families in South Florida, New York, and California. Together, they collectively oversaw $2.5bn in client assets at JPM.

Their new wealth management firm, Tiempo Capital, will offer clients three main services: wealth management and investments, wealth planning, and family office services.

‘After over 35 years of collective experience in the industry, we wanted to be free to serve our clients in a very personal and unique manner,’ Valentin and Freile said in an emailed statement to Citywire.

‘By sitting on the same side of the table as our clients, we work directly with them on all aspects of their wealth – ranging from helping them build appropriate estate plans and family governance structures, navigating banking and credit needs, managing investments, to planning strategically for the sale or transition of a business.’

The RIA’s focus will be mainly on catering to ultra-high net worth individuals, including entrepreneurs, corporate executives, owners of family businesses, as well as athletes and entertainers.

‘We currently cover clients in the US and Puerto Rico and plan on offering our services to Latin American clients soon,’ they added.

Valentin and Freile said that they currently have multiple custodial and banking agreements with large financial institutions, including JPM, UBS, Morgan Stanley and Goldman Sachs, among others. The RIA also provides access to alternative investments through platforms Bridgeport and iCapital, and directly via specialized asset managers.

‘Even though we launched Tiempo Capital only a couple of weeks ago, we already have assets under management of over $300m and have received commitments that will get us to $500m shortly. We expect to hit our target of $1bn within the next twelve months,’ said Valentin and Freile.’

‘Additionally, we will be launching an asset management arm within the next year that we expect to grow in a similar way to our family office business.’

Tiempo Capital is currently made up of the three founding partners (Valentin, Freile and Hackleman), a senior investment analyst, a communications analyst, and a summer associate. By the end of the year, Valentin and Freile said they expect to expand their support staff and hire additional financial advisors.