Rockefeller Capital Recruited Truist Wealth Team

The Charlotte-based group, known as Piedmont Wealth Partners, oversaw $1 billion in client assets.

Updated on Oct. 1, 2026 in Financial Planning

Modern steel and glass skyscraper in downtown Charlotte reflecting the late afternoon golden light. — Rockefeller Capital Management has recruited the Piedmont Wealth Partners team from Truist Bank to join its Charlotte-based Global Family Office. AI Illustration. Upload story photo >

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Rockefeller Capital Management has recruited Piedmont Wealth Partners, a team previously operating out of Truist Bank in Charlotte. The group transitions into the Rockefeller Global Family Office with $1 billion in client assets under its management.

Why it matters

This move serves to strengthen Rockefeller's footprint within the Charlotte financial market by bringing on an established group to its Global Family Office division. The recruitment aligns with the firm's strategic focus on expanding its presence in key growth regions.

The recruited team manages $1 billion in total client assets. The advisors bring decades of experience, with key members entering the industry as early as 1997.

The players

Rockefeller Capital Management

This is a private independent financial services firm that provides wealth management and investment advisory services.

Piedmont Wealth Partners

This is the wealth management team that recently transitioned to Rockefeller Capital Management.

Paul S. Irving

He is a managing director who has worked in the financial industry since 1997.

Gavin Y. Shuck

He is a managing director who joined First Union in 1999 before his time at Truist.

Brett T. Schmidt

He is a managing director who previously started his work with BB&T Securities in 2012.

The details

Piedmont Wealth Partners operates as a unit within the Rockefeller Global Family Office, consisting of three managing directors and two senior client associates. The firm aims to leverage the team's local expertise and established client base to bolster its operations in North Carolina.

Paul S. Irving and Gavin Y. Shuck entered the financial industry in 1997.
Paul S. Irving joined First Union Brokerage Services in 1998.
Gavin Y. Shuck joined First Union in 1999.
Brett T. Schmidt began his tenure with BB&T Securities in 2012.
Irving and Shuck joined the Truist organization in 2013.

Market Dynamics

This recruitment reflects a broader movement in the wealth management sector as advisory teams increasingly favor boutique, family-oriented platforms over traditional retail banking models. By securing established groups, firms like Rockefeller are aggressively scaling their regional market share.

Clients previously managed by this team will see their accounts transition to the Rockefeller Global Family Office platform. Investors should verify how this change impacts their existing fee structures and personal advisory access.

The takeaway

Large financial firms continue to prioritize the acquisition of established wealth management teams to capture regional market growth. Investors should ensure they understand how firm transitions affect the continuity of their long-term financial planning services.