Pasadena Private Wealth announced it has launched as an independent wealth management firm with the help of Focus Independence, a division of Focus Financial Partners that helps advisory teams launch their independent advisory businesses.
The Pasadena, Calif.-based firm announced that former Merrill Lynch advisors Iain Whyte, Simon Holford and Bryan Muth would lead it and function as managing partners, bringing $800 million in assets under management with them. Whyte will serve as chairman, Holford as chief executive officer and Muth as director of retirement plans.
With over 110 years of experience in the financial industry, the new team will provide wealth management services for investment portfolios, real estate holdings and business ventures, while continuing to serve high-net-worth families in California, the firm said. Four client service professionals will also join the team, and more will be added as the firm grows.
The three met during their long tenure at Merrill Lynch, and formed Whyte Holford & Associates in 2003. It grew into an 11-person team managing 120 clients. The firm served entrepreneurs, senior executives and their families with maintaining and growing their personal wealth. Before joining Merrill Lynch, Whyte, Holford and Muth held senior executive positions in corporate and commercial banking, mergers and acquisitions, wealth management and pension consulting.