Alvarez & Marsal, a New York-based management consulting firm dating back to 1983, has established a registered investment advisor.
A&M Private Wealth Partners will provide family office services to very high net worth families with more than $100 million in investable assets. The firm currently has about $103 million in discretionary assets, according to its most recent Form ADV.
“The RIA market is saturated, yet many firms remain sales-oriented and lack the comprehensive resources needed to meet the complex needs of the most affluent families. We understand that for extremely high net worth clients, their needs are as complex as the businesses we work with today,” said Tony Alvarez II, co-CEO of A&M.
The firm has hired several executives to lead the wealth management firm. Founding partners include Peter Sacripanti, a former chairman of the law firm McDermott Will & Emery, who will serve as chairman of RIA; Jonathan Fitzgerald, former head of in-house wealth planning for North America at Citi Private Bank, who will lead the wealth planning division; and Michael Calkin, a former director at Deutsche Bank and Citi Private Bank, who will serve as practice leader.
Michael Murgio, former chief investment officer at Greenway Wealth Management, has joined as CIO. Other new executives include John Ralls, former regional head of business development at Fidelity Family Office Services, who will lead business development; Takuya (Taki) Kisaka, former global head of fixed income for Citi Investment Management, who will lead the fixed income team; and Joseph Berardino, former CEO of Andersen Worldwide and managing director at Alvarez & Marsal, who will serve as senior advisor to the RIA.
The team has 13 other wealth professionals in addition to those seven partners, and they will operate out of West Palm Beach, Fla., as well as offices in New York, Atlanta and Los Angeles.
The firm will use Fidelity and Schwab for custody; clients will also have access to digital assets through Fidelity Digital Asset Services, according to an ADV filing.