About the Author
As the president and founder of Ascent Private Capital Management of US Bank, Michael Cole is fulfilling one of his family's core values.
“My parents taught me and my two sisters that we are all citizens of a larger planet and that we needed to look for ways to give back,” Cole said from his San Francisco office. “For me, the greatest way to give back is to empower people who have great wealth to use their resources—both financial and personal—to do great things for themselves and their families, live great lives, and make a positive impact on the planet.”
Through Ascent Private Capital Management, Cole and his team provide ultra‐high‐net‐worth clients with a unique and distinctive suite of wealth‐management services that combine traditional wealth management offerings—financial planning, investment consulting, financial administration, private banking, trust, and estate services—with cutting‐edge “wealth impact” services that help some of the country's wealthiest families with governance, risk management, education, stewardship, family leadership, and communication.
Ascent, since its creation in 2010, has won numerous industry awards and recognition, including:
- Private Asset Management magazine's 2014 Best Private Wealth Manager—Client Service
- Private Asset Management magazine's 2014 Best Private Client Investment Platform—Client Service
- Private Asset Management magazine's 2015 Best Multi‐Family Office Service Provider
- Private Asset Management magazine's 2016 Best‐in‐Class: Private Banking Client Service
- Family Wealth Report Awards 2014 Best Brand Launch
- Family Wealth Report Awards 2016 Best Alternative Asset Manager
- Bloomberg Markets magazine's Annual Family Office World Ranking—2nd Fastest Growing in 2012, 5th Fastest Growing in 2013, 5th Fastest Growing in 2014
A Student of Success
From the time that he was a twenty‐three‐year‐old financial advisor selling pensions and employee benefits to wealthy businessmen in the New York City area, Cole has been a student of success. “I learned early that ‘knowledge is power’ and that I needed to learn everything there was to know about my work—from the technical side of the business to rapport with people,” Cole said. “I also learned what it took to succeed and what the activities were that led to success.”
Cole was such a student of success that when he was only thirty‐five, Merrill Lynch named him president of Merrill Lynch Trust after working at the firm for just two years. He then went on to even greater professional success at Wells Fargo, where he held senior wealth management positions and was selected to build, develop, and serve as national director of the Family Wealth Group and the Wealth Planning Center at Wells Fargo. The Family Wealth Group, which was subsequently rebranded as Abbott Downing, is now one of the largest multifamily offices in the United States.
Today, Cole spends the majority of his time sharing his vision of how Ascent Private Capital Management can help families with exceptional net worth act strategically to make an impact with their wealth. “I believe there is no higher calling than to help people move forward in a direction that creates a positive change in how they manage their wealth and impact the world,” he said.
Cole also spends a great deal of time interacting with clients and working with his team. He prides himself on knowing how to hire great people and empower them to execute his vision. “My management style is to have fun and be passionate,” he said. “I find it exceptionally rewarding and challenging to work with clients and team members in a business where you interface with interesting, successful people who have the resources and abilities to do amazing things.”
Cole earned a bachelor's degree from Emory University in Atlanta, Georgia. He is also a Certified Financial Planner and holds Series 7, 9, 10, and 66 licenses from the NASD.
Cole resides in Los Gatos, California, with his family.