Bonadio & Co, a New York-based financial services firm, has launched a new wealth management subsidiary at Amherst.

Known as Global Portfolio Solutions, the new subsidiary will be headed by managing director Brian Cannon, reported Rochester Business Journal.

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Prior to joining Bonadio, Cannon served as managing director at Cobblestone Capital Partners in Amherst. He also worked with the investment group at M&T Bank Corp and served as managing director of Dopkins Wealth Management.

Cannon said: "Global Portfolio Solutions is uniquely positioned to deliver on the promise of true wealth management, a client experience that adds significant value to a client’s financial life.

"As a fee-only adviser, our success is directly linked to the results we achieve for clients, and that’s good for everyone involved," Cannon added.

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