New Florida-Based RIA Is Launched

Tom Burroughes

29 October 2024

Senior figures at McDermott Will & Emery, Citi Private Bank and other major firms are launching a new RIA headquartered in West Palm Beach, backed by Alvarez & Marsal, the professional services firm.

The new entity – A&M Private Wealth Partners – operates as an independent affiliate of A&M.

The new business will “provide comprehensive family office services to entrepreneurs, multi-generational families, and financial sponsor principals, aligning with A&M’s legacy as trusted advisors specializing in value preservation and creation for complex businesses,” a press release from A&M said yesterday.

Tony Alvarez II, co-CEO of A&M, said there’s a need for this new business even in a market “saturated” with RIAs.

“Many firms remain sales-oriented and lack the comprehensive resources necessary to meet the intricate needs of the wealthiest families. We recognize that for ultra-high net worth clientele, their needs are as complex as the businesses we work with today,” Alvarez said.

The founding team of AMPWP includes:

-- Peter Sacripanti, chairman of AMPWP, is former chairman of the McDermott Will & Emery law firm;
-- Michael Calkin, a portfolio manager, family office executive, and private banker at JP Morgan and Citi Private Bank, serves as AMPWP practice lead;
-- Jonathan Fitzgerald, former head of domestic wealth planning for North America at Citi Private Bank, heads the wealth planning division;
-- Michael Murgio, previously chief investment officer at Greenway Wealth Management, serves as chief investment officer;
-- Takuya Kisaka, former global head of fixed income at Citi Investment Management, leads the fixed income team;
-- John Ralls, former regional head of business development at Fidelity Family Office Services, leads business development efforts; and
-- Joseph Berardino, formerly in leadership roles such as CEO for Andersen Worldwide, is senior advisor to AMPWP.

“We have purposefully assembled a best-in-class team to provide holistic wealth management advice at a level that we believe is unmatched in the market today,” Calkin said of the new team.

Launching with a total of 20 members, it includes seven partners. Besides its West Palm Beach HQ, the firm has offices in New York City, Atlanta and Los Angeles.