Midwest Financial Partners, previously affiliated with AXA Equitable Advisors, has gone independent with the help of Merchant and set up RIA Octavia Wealth Advisors.
Merchant has made a minority investment in Octavia and collaborated with the firm to support its transition to independence.
Octavia CEO Maxim Meyers believes that the transition is “a natural evolution of our service delivery”.
Merchant managing partner Bryan Staff said: “We will work with Octavia to build out the ideal client-focused independent wealth management business for today’s market landscape.
“Octavia has a scalable organisation, with domestic and international growth opportunities and a fiduciary mindset aimed at offering the best possible solutions for their large and diverse client base.”
Octavia will offer integrated wealth and risk management, retirement, insurance, tax, business, and estate planning to individuals, families, and businesses.
The eight partners of the Cincinnati-based business are Mark Bodnar, Donald Hughett, Michael Ingram, Maxim Meyers, Andrew Seni, Justin Setzekorn, Luis Strohmeier as well as Marc Wagner.
The business will be staffed by 35 employees. They will cater to clients from offices located in Cincinnati, Los Angeles, San Diego and Miami.
Octavia partner and wealth adviser Luis Strohmeier said: “At Octavia, we are unleashing the full power of both technology and our relationship skills, combining a grasp of hard data with insights into what our clients want and need.
“Using a client’s soft data, we learn about their life philosophy, how they make decisions and what matters most to them.”