Salvino Wealth Management, a family-owned practice formerly with William & Blair, has launched Performance Wealth, an independent registered investment advisor in the Chicago area with a $2.2 billion book of business, the company announced in a news release.

The nine-member Performance Wealth team, led by CEO and Wealth Manager Thomas Salvino, includes three generations of the Salvino family, who bring more than 100 years of collective experience to their new launch. Charles Schwab is providing custody services.

“The wealth management industry has evolved considerably in the last 20 years,” Salvino said in the news release. “Our decision to create Performance Wealth was driven by the realization that we could do a lot more for our clients as an independent firm than we could affiliated with a financial services corporation. We believe results matter and as a fiduciary committed to transparency, we make sure our clients always know exactly what they own, what they are paying, and who is doing the work.”

As a fully independent firm, Performance Wealth is empowered to choose the technology, asset managers, and investment solutions best suited to each individual client’s needs by creating detailed financial plans and investment portfolios in-house, and drawing on the best research tools available, according to news release.

Performance Wealth is not just a team accomplishment, but the story of three generations of the Salvino family, the news release reported. 

In 1963, family patriarch Al Salvino began his financial career in what the release described as the pioneering days of the profession. A generation later, one man’s business became the family business with the addition of sons Tom and John Salvino, both certified financial planners, too. All three graduated from the University of Notre Dame.

Grace Salvino, a graduate of the University of Michigan, now studying for her MBA degree at the University of Chicago, represents the third generation of the Salvino family at Performance Wealth.

Reflecting the roots of the new RIA’s name, the team is performance-oriented and data driven, allowing them to tailor thoughtful recommendations designed to achieve meaningful outcomes and improve clients’ lives, the release said. In constructing client portfolios, they rely on a research process that focuses on revenue and earnings acceleration, among other key factors. 

The firm’s core values—respect for people, society, and the planet—drive their investment approach, which is in alignment with ethical, environmentally and socially responsible standards, the release said.

Headquartered in the Chicago suburb of Hinsdale, Ill., Performance Wealth also has offices in Naples, Fla., and San Diego.