The democratization of technology and the proliferation of innovative plug-and-play third-party tools continue to drive entrepreneurial advisors away from the wirehouse model toward independence.
The latest to go full RIA is the successful team of Denis Cleary and Greg Devine, who announced they left UBS Financial Services to launch 71 West Capital Partners. At UBS, Cleary and Devine managed a large and growing private wealth practice, with approximately $6 billion in assets and clients across 35 states.
No longer needing to rely on a large financial institution to support the demands of its sophisticated clients, 71 West intends to leverage its newfound independence to expand its business and enhance the services, technology and tools its ultra-high net worth relationships expect and deserve.
Cleary and Devine built their practice first at Goldman Sachs and then at UBS by serving a core clientele of successful entrepreneurs, business owners, C-suite executives, families and philanthropic organizations.
71 West has offices in Boston and Los Angeles. Cleary will serve as CEO and operate from the firm’s Boston office, while Devine will lead the firm’s Los Angeles office. The firm will work with BNY Pershing for custody, clearing and related services.
Joining Cleary and Devine at 71 West are team members Abigail Harris, Matthew Kirshner, Chris Carbone, William Corman, Spencer Danziger and Nolan Morr.
