Wilmington Trust is often associated with ultrahigh-net-worth clients, given its 1903 founding to manage the duPont family fortune. But its reach goes far beyond that legacy. “Some people don’t realize we also serve the affluent and high-net-worth segments,” says Lisa Roberts, head of wealth management since October. Roberts now leads an $80 billion-asset business with roughly 1,000 employees, aiming to reposition the firm’s image for today’s market.
Speaking with Barron’s Advisor, Roberts emphasizes the firm’s evolving identity and the shift from a purely investment-focused model to one rooted in holistic wealth management. Her goal: to ensure Wilmington Trust delivers tailored financial strategies across the full wealth spectrum—from mass affluent to ultrahigh-net-worth.
Roberts’ path began in Michigan, followed by studies at Indiana University Bloomington. She started in finance roles before becoming CFO of Wells Fargo Private Bank in 2000. Most recently, she held leadership roles at Union Bank before transitioning to Wilmington Trust following its acquisition by U.S. Bank.
At Wilmington Trust, Roberts sets strategic priorities across the firm’s affluent, high-net-worth, and ultrahigh-net-worth offerings. The firm defines ultrahigh-net-worth as $25 million+ in investible assets, high-net-worth between $3 million and $25 million, and mass affluent between $150,000 and $3 million. Services span investment management, wealth planning, trust and estate services, private banking, and family-office solutions.
As RIAs increasingly compete for wealthier households, Roberts sees Wilmington’s long-standing infrastructure as a key advantage. “RIAs are building out their planning tools—we already have them,” she says. “From tax and estate planning to exclusive investment access and concierge services, we’re delivering what high-net-worth and ultrahigh-net-worth clients need.”
Roberts emphasizes Wilmington’s deep roots in complex wealth strategies. “We’ve been operating with a family office mindset since day one,” she says. The firm’s aim now is to scale that approach—delivering a boutique experience efficiently across client tiers, while modernizing how it presents itself.
That modernization includes a recent rebrand. “Our old logo—the gray diamond—wasn't reflective of our energy or broad client base,” says Roberts. “We updated our brand with vibrant blues and greens to communicate our contemporary approach and full-spectrum service.”
Though Wilmington has supported affluent clients since its 2010 acquisition by M&T Bank, Roberts acknowledges the perception gap. “Some people didn’t know we serve the affluent segment. We absolutely do. We’ve just got more work to do in telling our story.”
Since joining Wilmington in 2023, Roberts has helped realign the business around a holistic model that expands well beyond investing. “Clients are demanding more—intergenerational wealth transfer, philanthropy strategies, tax optimization. We already had those capabilities. It’s about bringing them to the forefront.”
The firm’s strategy, she says, is to make that ultrahigh-net-worth experience scalable for high-net-worth and affluent clients. “We’re focused on delivering exceptional, personalized service at every level, while supporting our teams with operational efficiency and technology.”
Among current initiatives is a private equity fund of funds, soon to be available to high-net-worth clients. “Our UHNW clients already access private equity. Now we’re seeing demand further down the wealth continuum, and we’re preparing to meet it.”
Wilmington is also enhancing its family office-style concierge services. “That includes traditional services like bill pay and philanthropy, but we’re expanding into areas like experiential travel and VIP event access—services uniquely relevant to UHNW individuals.”
Supporting this transformation requires strong talent. Roberts has introduced new career pathways and roles, including relationship managers who partner with wealth advisors to deepen client engagement. “We’re creating a progression—from client associate to relationship manager to advisor—that allows team members to grow within the firm.”
She’s also introduced a structured onboarding process for new advisors. “We don’t just drop people in. We offer a six-week curriculum that walks them through our capabilities, and we support them with a dedicated sales coach. That sets them up for success and strengthens retention.”
Wilmington is investing in technology as well. “We’re in the early innings of AI adoption,” says Roberts. “We’re using it to streamline communications and back-office processes. Even with limited implementation, it’s already had a significant impact—freeing up advisors to focus on client relationships.”
Roberts also sees generational shifts in client expectations. “Next-gen investors consolidate faster, and they want their banking and investments under one roof. That’s an opportunity for us to meet them at the banking stage and build trust early.”
She notes that younger clients prioritize simplicity and expect fast, tech-driven interactions. “They’re used to instant access and quick communication. We maintain compliance by keeping all advisory communications within approved channels, but they understand the boundaries once we explain them.”
The firm’s focus on the affluent market is also part of its strategy to engage these next-gen investors. “As they accumulate wealth, their need for advice grows. They might start out doing things on their own, but when real money’s involved, they seek guidance—just like older generations.”
As Wilmington builds for the future, Roberts keeps her focus clear: scaling exceptional service, empowering advisors, modernizing the brand, and meeting clients where they are—whether that’s an UHNW family office or an affluent next-gen investor.
Outside of work, Roberts prioritizes fitness and travel. “Running is my reset,” she says. “During Covid, I picked up a 5K plan, and I’ve stuck with it. It helps clear my head.”
