SAN FRANCISCO (HedgeWorld.com)–The West Coast institutional investment bank ThinkEquity Partners LLC is branching out into private wealth management with a new group called ThinkWealth Management.
Stephen Hohenrieder and Joyce Linker, who both recently were with the Bank of America Private Bank in San Francisco, will run the new firm. At BofA, both directors focused on investment and wealth management strategies for high-net-worth families, with more than US$1 billion in total assets under advisement.
ThinkWealth is in the process of moving clients over to its manager platform, and in the next few months the firm hopes to have US$1 billion under advisement.
“By being small we have the advantage and we essentially have the chance to start from scratch,” Mr. Hohenrieder said, adding that the goal was to have a flexible offering as they add managers to their platform, which will include alternative investments.