HamptonRock Partners, a Texas-based boutique investment bank and advisory firm, has launched HamptonRock Wealth Management, an Austin registered investment advisory firm. The firm has hired David Dodson, a former chief investment officer and portfolio manager of the OMEGA Group at Oppenheimer & Co., to lead the new wealth business.

HamptonRock will build the new line of business with Dodson's existing book of business as well as existing investment banking clients seeking wealth management services. Dodson declined to say how many assets the business had.

Stuart Brown, founder and managing director at HamptonRock, said the property business offers another way to serve clients; the firm hopes to exploit synergies between investment banking and wealth management.

“With investment banking, you have business owners who are thinking about estate planning, sometimes well in advance of a transaction, if you really want to do it the right way, and others who are going through a transaction but looking for exciting ways to manage money, protect their wealth, protect their family for generations,” said Brown. “The liquidity events we are facing are obviously a synergy for David's wealth management practice.”

And conversely, Dodson may have business owner clients seeking investment banking services.

Having a home wealth management business can also help business owners plan their exit earlier in the process, Dodson said.

“There are so many opportunities for planning — exit planning with clients, and they are so important to address anywhere between six months before exit, even up to two years or longer in some cases,” he said.

HamptonRock Wealth Management will use Charles Schwab for custody and HamptonRock's broker/dealer for the brokerage business. The firm has also joined the Intermediary Recruitment Protocol.