A pair of former Merrill Lynch advisors have made a break for independence by launching their own billion-dollar RIA practice.
Alteri Wealth, an SEC-registered investment advisory and wealth management firm, officially announced its launch in Westlake Village, California on Tuesday.
The firm was co-founded by Michelle Gruber and Alex Markowitz, who together with senior vice president Matthew Mullaly previously oversaw over a billion dollars in client assets at Merrill Lynch.
“Founding Alteri Wealth is the culmination of our vision and provides us with the freedom and framework needed to fulfill our mission, embracing the fiduciary standard and always acting in the best interests of our clients,” Gruber said in a statement.
The firm's name, Alteri, is derived from the Latin term meaning “other people” or “somebody else,” reflecting the founders' commitment to altruism through client service as well as their client’s embrace of philanthropy and charitable initiatives.
“By leveraging the vast resources at our disposal – including state-of-the-art technology, professional legal, compliance, and other consulting teams – we’re able to find innovative ways to connect all the pieces of our clients’ financial lives as they pursue their own unique north stars,” Markowitz said.
Alteri Wealth offers comprehensive services tailored to high-net-worth clients, including financial planning, investment advisory, retirement income planning, risk management, and coordinated strategies for legacy goals and asset protection.
The firm also serves ultra-high-net-worth families with complex financial needs, providing holistic tax planning, trust services, bespoke investment strategies, wealth transfer, personal CFO services, bill pay, and concierge services.
Launching with over $1 billion in assets under management, Alteri Wealth specializes in working with business achievers, founders, entrepreneurs, physicians, athletes, entertainers, successful women, and family stewards seeking multigenerational planning.
Gruber has over two decades of experience in wealth management, including time at UBS and Merrill Lynch. She aims to empower women and couples through financial education, focusing on financial planning, tax minimization, and generational wealth transfer.
A next-gen advisor, Markowitz spent 13 years at Merrill Lynch, where ascended the ranks to reach senior vice president. A self-described “financial physician” who pivoted into financial services from medicine, Markowitz’s vision for a comprehensive family office approach aims to serve the unique needs of clients and their families.
Both Gruber and Markowitz have made their marks as top advisors, having landed on prestigious “best of” lists published by Forbes.
The Alteri Wealth team includes Veronica Hoy as chief operating officer, Roseann Higgins as chief compliance officer, Matthew Mullaly as senior vice president, Breann Young as client relationship manager, Celina Whinery as client operations manager, and Cheyenne Meinecke as client experience manager.
Financial services compliance consultant ACA Group told InvestmentNews it had four clients report receiving emails that impersonated David Bottom, the SEC's chief information officer, with smaller firms being targeted.
Financial advisor Derek Wittjohann shares the lessons he learned after leaving a major wirehouse to set up his own practice in the second installment of InvestmentNews' new 'Independence Stories' series.
Whether a firm manages $50 million or $5 billion in client assets, building a succession strategy needs to be a priority at least a decade out from retirement.
RIA assets are key for broker-dealers right now.
The former investment advisor misled clients in a decade-long scheme to fund international travel expenses, country club fees, and other personal expenses, according to three government agencies.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
