Former JPMorgan advisors David Steele and Jonathan Steele have launched a new independent financial advisory firm based in San Francisco called One Wealth Advisors.
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The new company has been established with the support of platform provider Dynasty Financial Partners. David Steele will serve as CEO for the new entity.
One Wealth Advisors collaborates with HNW clients including corporate executives, retirees, small business owners and foundations. It offers clients with comprehensive wealth management services including estate planning, tax planning and investment management.
In addition, the team works with professionals providing support to families including their estate lawyers, accountants, tax experts, bankers and executive coaches to develop an overall ‘family plan’.
The firm will focus on wealth preservation, while growing wealth for the long term and customizing investment plans and portfolios.
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By GlobalDataBefore establishing One Wealth Advisors, David and Steele led a financial planning practice at JP Morgan Securities.
In addition, Alexander Schmitz, director of financial planning, Kevin Cohen, director of operations, and Samuel Stephens, senior client service associate, from JPMorgan will join One Wealth Advisors.
One Wealth Advisors will use Dynasty Financial’s platform of integrated wealth management services and technology, which integrates proprietary research from Wilshire Associates and Callan Associates and Envestnet’s portfolio tools and reporting technology.
The new firm has appointed Fidelity to provide custody services.
David Steele said: "We will be free to collaborate with handpicked independent specialists and develop and implement options tailored to the client – with no conflicts."
Dynasty Financial president and CEO Shirl Penney said: "The One Wealth Advisors team consists of extraordinary financial advisors with an entrepreneurial mindset. We look forward to partnering with them as they build their business and we are proud to add them to our network of truly independent advisors."
