Federal Street Advisors of Boston has named Eric Godes as its chief operating officer and chief wealth advisory officer. Godes will be responsible for the development and delivery of advice and service for the firm's clients.
As a member of the leadership team at Federal Street, he joins Kristin Fafard, chief investment officer, who is responsible for the firm's research efforts and investment programs, and Jennifer Murtie, president, who is responsible for overall business operations, strategic planning and marketing.
"Eric has the right skills to round out our leadership team," said Fafard in a statement. "With his extensive operational and client management background, his addition enables Jen and me to focus more on our respective areas of expertise in business operations and investment management."
Godes previously served for 21 years at Kobre Insight Management, rising to the post of president and chief operating officer there prior to that firm's sale to E*TRADE Financial in 2011. It was subsequently acquired by Adviser Investments, where Godes helped manage the integration into a new operational structure. While at Kobren, he was responsible for all operating divisions of the firm, which included sales, marketing, trading, compliance and client relationship management for high-net-worth clients, foundations and retirement plans.
According to Financial Advisor magazine 2014 RIA survey, Federal Street Advisors managed about $3.7 billion as of December 31, 2013. It average client has about $27 million.
Founder John LaPann remains chairman. In recent years, he has sought add depth to his management team with the promotions of Fafard and Jennifer Murtie, the firm's president. Traditionally a specialist in the ultra-affluent market, Federal Street created a separate division, Old North Advisors, two years ago to target clients in the $2 million to $10 million net worth range.