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.
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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.
