Veteran financial adviser Ash Chopra, whose Merrill Lynch team managed $4.5 billion in San Francisco, has left the firm and launched Syon Capital, a registered investment adviser, which will use the custodian services of Charles Schwab & Co.
Most of the 10 professionals joining Chopra in the move were team members at Merrill, Syon said in a press release Thursday. Chopra had been with Merrill for 18 years.
“Within a wirehouse, our ability to brand ourselves as a multi-family office, and serve our clients as fiduciaries, was restricted,” Chopra, chief executive officer of Syon, said in the release. “As an independent organization, our family office model will enable us to serve our clients free from the constraints of a broker/dealer model.”
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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