Two teams totaling seven advisors managing a total of $3.3 billion in client assets have broken away from Merrill Lynch’s Private Investment Group to form their own independent wealth management firm.

Corient Capital Partners, based out of Newport Beach, Calif., will offer comprehensive wealth management services to ultra-high-net-worth clients.

The founding partners—Chris Copps, Gordon Hassenplug, Darren Henderson, Michael Phelps, Alex Stimpson, Jon Tenney and Greg Walters—have more than 130 years of experience in areas including portfolio management, estate planning, tax strategies and investment banking.

Corient will use Dynasty Financial Partner’s technology and back-office support, Fidelity’s custodial services and Addepar’s analytic and reporting technology.