Financial bloggers Josh Brown and Barry Ritholtz have launched a new wealth management firm, Ritholtz Wealth Management.
The SEC registered investment advisory firm will launch with five advisers and is expected to manage more than US$100 million in assets.
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Brown will act as CEO and Ritholtz will act as CIO and chairman of the firm. It’s registered with the SEC and will serve clients nationally from its Park Avenue office.
They think this new venture a chance to manage money with integrity.
Both Ritholtz and Brown have been critical of Wall Street’s ethical practices on television and social media.
Most recently, the pair has been affiliated with Fusion Analytics Investment Partners, a firm that emphasizes quantitative research in addition to advisory services, but Brown said they decided to leave to focus more exclusively on working with clients.
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By GlobalDataRitholtz said that he saw an encouraging market for advisors and will be looking for new talent to staff the new firm’s ranks.
"This is an industry that is in desperate need of disruption," Ritholtz added.
"We’re doubling down on wealth management," said Brown.
