Billion-dollar Merrill team bolts

Billion-dollar Merrill team bolts
Trio of advisers launch Beverly Hills Private Wealth as an independent registered investment adviser and selects Goldman as custodian.
OCT 11, 2022

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.

SEC's new marketing rule poses a challenge for advisers

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.