Scott Shagrin, Ira Ravitz and Lisa Weiner, who managed $1 billion assets under management at Merrill Lynch, have formed Beverly Hills Private Wealth, a registered investment adviser, and selected Goldman Sachs Advisor Solutions as their custodian.
The team’s four associates made the move with them. Shagrin and Ravitz have worked together since 1998 when Ravitz joined Smith Barney, where Shagrin had been a representative for 15 years. They moved to Merrill Lynch in 2006, where they were joined by Weiner in 2013.
Based in Beverly Hills, California, the new firm provides successful individuals and multi-generational families with tailored planning, investment management, tax planning, and risk management, Beverly Hills Private Wealth said in a press release.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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