Two Big California RIA Firms to Merge

Typifying a growing trend in the independent advisory industry, two big California wealth management firms–Kochis Fitz of San Francisco and Quintile Wealth Management of Los Angeles–said Nov. 12 that they will merge their two firms into a new entity, effective January 1, 2008.

The new firm will manage or advise on more than $5 billion in client assets, according to the companies, and will initially be called Kochis Fitz/Quintile “while a new name is identified.” The firm will have 68 employees, will have as clients 385 individuals and families, and will be headquartered in San Francisco.