He launched a private wealth firm – Los Angeles Business Journal


A breakaway from Merrill Lynch has launched Beverly Hills Private Wealth, an independent financial advisory arm of Goldman Sachs, with more than $1 billion in assets under management.

A certified financial planner firm founded by industry veteran Scott Shagreen; Certified Investment Analyst Ira Ravitz; And Lisa Weiner, a chartered financial advisor, announced October 7 as the official start date, according to a news release published the same day. Before leaving Merrill Lynch, the three managed more than $1 billion in assets together.

In a statement accompanying the news release, Ravitz said the startup was a natural evolution to meet the needs of today’s investors.

“Launching Beverly Hills Private Wealth allows us to evolve with our clients without the constraints of traditional large wirehouses. We work with a diverse group of clients, from business owners to those in the entertainment industry to family fortunes in multi-generational relationships,” Ravitz said in a statement.

“There is no one-size-fits-all plan or formula that will meet different people’s goals. Now, there is a world of opportunity open to our customers. We’ve had a great run at Merrill, but it’s time for the next chapter. Not only for us, but for our customers. And the future looks very bright,” he added.

The company said it chose Goldman Sachs Advisory Solutions for its custodial services, and to support its unique client experience, Beverly Hills Private Wealth said it supports clients with sophisticated wealth management solutions through its relationship with Goldman Sachs. Most respected brand in the market.

“Our goal is to give advisors the best of both worlds — the freedom to operate as an independent RIA and the ability to access institutional-grade products and services,” said Bill Dalton, head of new business at Goldman Sachs Advisory Solutios. press release.

“Beverly Hills Private Wealth’s commitment to their clients and to building a sustainable business is aligned with our vision and goals. We look forward to unlocking new opportunities together.

Ravitz declined to comment further to the Business Journal.
As the name suggests, the firm operates out of Beverly Hills and uses “decades of combined experience in custom planning, investment management, tax planning and risk management to enable successful individuals and multigenerational families to achieve their goals.”



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