Franklin Street Partners to Name New President in 2027
The firm will appoint Paul Bode as its third president to manage its $4.7 billion portfolio and advisor team.
Updated on Oct. 31, 2026 in People
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Franklin Street Partners will appoint Paul Bode as president effective January 1, 2027. The leadership transition marks the firm's third presidential change in its 36-year history as current leader Bob Newell moves to an advisory role.
Why it matters
The transition ensures continuity in firm strategy, as Franklin Street Partners looks to maintain its track record of client-facing advisor retention while managing over $4.7 billion in assets.
Franklin Street Partners manages over $4.7 billion in assets with a team of 40 employees. The firm reports a 100% retention rate for its client-facing advisors over the past decade.
The players
Paul Bode
The incoming president of Franklin Street Partners and former Chief Investment Officer at Safe Harbor Family Capital.
Bob Newell
Current firm leader who will shift to a full-time advisory role focused on long-term clients.
Franklin Street Partners
A Chapel Hill-based firm managing over $4.7 billion in assets with a 36-year history.
The details
The appointment of Paul Bode, formerly the Chief Investment Officer at Safe Harbor Family Capital, represents a strategic shift toward internal leadership succession. Bob Newell, who joined the firm in 2009, will continue to work full-time while transitioning his administrative duties to focus exclusively on serving a select group of long-term clients. This move follows the firm's established operational stability, characterized by the consistent retention of its advisor team.
Timeline
January 1, 2027: Paul Bode begins tenure as firm president.
September 1, 2026: Assets under management reached over $4.7 billion.
Market Landscape
The transition at Franklin Street Partners follows the firm's 36-year operational history, marking only the third time the presidency has changed. This move reflects a trend of prioritizing internal succession to maintain high advisor retention and client continuity.
Business owners should assess how their own leadership succession plans impact client stability and key staff retention. Tracking the firm's 100% advisor retention rate serves as a benchmark for evaluating the effectiveness of internal leadership transitions.
The takeaway
Effective transitions require balancing new leadership mandates with the preservation of institutional knowledge and long-term client relationships. Operators should evaluate their own succession timelines and document the specific client-coverage models that senior leaders retain after stepping back.
What happens next
Paul Bode will officially assume the presidency on January 1, 2027.
Further reading
For more on local leadership changes, see our latest coverage in People.
Source note: This article includes information reported by Business North Carolina.
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