Kimberly Sheehy has been appointed as the new head of a family office group owned by Fidelity Investments’ parent company. Sheehy, a seasoned Fidelity veteran, will oversee the Communities Center of Excellence, which includes two exclusive networks: Forge Community for professionals managing ultra-wealthy family investments and Finteract for financial advisers. She succeeds Jennifer Richardson, who left due to Fidelity’s strategic changes.
Forge, with over 2,000 members, is one of the largest family office networks globally. These offices, managing wealth for the ultra-rich, have become significant players in global business, intensifying competition among major firms like Apollo Global Management and JPMorgan Chase.
Established in 2011, the group evolved from Fidelity’s initiative to foster collaboration among industry leaders. It provides a platform for sharing ideas, accessing research, and attending events, under strict confidentiality rules to prevent solicitation.
Sheehy, who previously spent over 20 years at Fidelity and led Forge for three years, returned in 2023 to lead the newly launched Finteract community. Fidelity currently manages over $300 billion in assets for US families, contributing to its $15 trillion in overall oversight.
