A team of advisors led by Matthew Celenza who managed $1 billion in client assets at Merrill Lynch have left the wirehouse to set up their own independent RIA.
A 20-year industry veteran, Celenza had worked at Merrill Lynch in its private banking and investment group (PBIG) for the past six years.
Joining Celenza at the new firm, Boulevard Family Wealth based in Beverly Hills, California, are long-time team members Shannon McLaughlin and Andrea Shieh.
Andrew Aiello, who had previously served as senior vice president at Merrill Lynch in its ultra high net worth solutions department, will also be joining the firm to lead their insurance efforts as part of Boulevard's insurance strategies.
The RIA will cater to ultra-affluent individuals, multi-generational families, entrepreneurs and business owners in real estate, technology, private equity, as well as the arts and entertainment fields throughout Los Angeles and the West Coast.
Boulevard is leveraging the technology platform, research and other support services of New York-based Dynasty Financial Partners, the institutional research capabilities of Callan Associates, as well as the custodian support of Schwab Advisor Services in its launch.
‘Our immediate size, along with our partnerships with Dynasty Financial Partners and Schwab Advisor Services, will enable us to act with the clout of an institutional Wall Street firm while maintaining Boulevard Family Wealth’s very personalized boutique feel for each of our clients,’ said Celenza.