A Boston- and Los Angeles-based workforce of advisors has left UBS Monetary Companies to create a brand new registered funding advisor. Advisors Denis Cleary and Greg Devine have launched 71 West Capital Companions, an RIA with about $6 billion in shopper property.
Cleary will function CEO of the brand new agency, working out of the Boston workplace, whereas Devine will run the Los Angeles workplace. They’ve chosen BNY Pershing for custody and clearing. The workforce serves ultra-high-net-worth people, households and foundations.
Different workforce members embrace Abigail Harris, Matthew Kirshner, Chris Carbone, William Corman, Spencer Danziger and Nolan Morr.
Prior to creating the transfer to independence, Cleary and Devine have been with UBS for 5 years. They began working collectively in 2006 at Goldman Sachs.
Cleary, who began his profession as a company legal professional, focuses on purchasers from sectors that embrace know-how, healthcare, household enterprise and actual property. Devine, who beforehand had a profession within the tech sector, specializes within the know-how, non-public fairness, enterprise capital and household enterprise sectors.
This follows information from September {that a} seven-member workforce, which operated because the 440 Group inside UBS’s non-public wealth administration division, left to create a brand new multi-family workplace. The workforce launched Loxahatchee Capital, a Tequesta, Fla.-based agency with $1.4 billion in property, taking up Elevation Level as a minority investor.
