A team of advisors has broken away from Merrill Lynch to launch an independent wealth management firm dubbed Boulevard Family Wealth and joined the Dynasty Financial Partners network.

The team- which includes Matthew Celenza, Shannon McLaughlin, Andrea Shieh, and Andrew Aiello- managed $1bn in client assets at Merrill Lynch.

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The new firm will be based in Beverly Hills, California, and will offer family office services to ultra-affluent individuals, multi-generational families, and entrepreneurs.

It will focus on working with first generation wealth and with entrepreneurs and business owners in real estate, technology, private equity, arts and entertainment across Los Angeles and the West Coast.

The firm will leverage Dynasty Desktop, the technology platform of Dynasty, and Dynasty’s digital client experience applications and client facing reporting packages. It also partnered with Schwab Advisor Services, which will serve as custodian to its assets.

Celenza said: “We believe that objectivity is at the core of our offering, so we will be able to access, on behalf of our clients, a greatly expanded selection of investment capabilities, lending platforms, sophisticated insurance products, planning resources, capital market solutions, and alternative manager opportunities.

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“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.”