Former Merrill Lynch private wealth advisors Steven and Michael Wagner have launched a new $1.4bn independent multi-family office in Florida called Omnia Family Wealth.
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In addition, Omnia Family Wealth has partnered with Dynasty Financial Partners to use its wealth management services platform. Dynasty said that it has crafted a customized platform for Omnia, which includes its investment platform.
Omnia Family Wealth comprises a five-person team, all from Merrill Lynch including co-founder, managing director, wealth structure and planning, Ivan Hernandez, director of client services, Diana Torre and director of operations, Cherie Cohen.
The company provides clients a wide array of financial activities ranging from wealth structuring to transference to creating a philanthropic legacy.
The multi-family office expands relationships to clients’ family members and seeking to understand clients’ core values and beliefs in addition to their risk preferences and financial goals. It will help families manage the complexity and responsibility of their wealth.
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By GlobalDataFurthermore, Fidelity and Pershing have been appointed by Omnia Family Wealth for custody services.
Wagner said: "Omnia was formed for a simple reason: we want to offer our clients family office capabilities – in effect, a higher end, more personal level of service in a conflict-free environment.
"At Omnia, we believe that there is a great opportunity to expand our business in Florida, North Carolina and other states as families seek a family office approach to managing their wealth."
"Omnia Family Wealth was built around our desire to deliver independent, integrated and comprehensive wealth management advice and planning solutions to the families we serve. Our clients are notable for their expertise at creating and accumulating wealth," added Wagner.
