Adviser Pair Departs UBS to Launch Independent RIA 71 West Capital Partners
Financial advisers Denis Cleary and Greg Devine have left UBS Financial Services to launch a full-service registered investment adviser: 71 West Capital Partners. At UBS, Cleary and Devine’s wealth practice served approximately $6 billion in assets and clients in 35 states.
71 West has offices in Boston and Los Angeles. It will serve a core clientele of ultra-high-net-worth clients, such as entrepreneurs, business owners, C-suite executives, families, and philanthropic organizations. Cleary will serve as chief executive officer and operate from the firm’s Boston office, while Devine will lead the firm’s Los Angeles office. 71 West will work with BNY Pershing for custody, clearing, and related services.
The pair have worked together for nearly 20 years, starting at Goldman Sachs in 2006. In 2020, they moved their business to UBS and reported that they regained 100% of their prior revenue by the end of the next year. Since that move, the team said they have doubled their assets under management and annual revenue on a forward run-rate basis.
Cleary began his career as a corporate attorney before serving as executive director of a large private operating foundation on the East Coast. At Goldman Sachs, he was a managing director from 2006 to 2020. Cleary is a graduate of the College of the Holy Cross and Boston College Law School.
Devine began his wealth management career in 2004, following a career in Silicon Valley’s technology sector. According to Devine, the relationships he built there laid the foundation for a business focused on serving high-tech entrepreneurs and their families.
In 2016, Devine moved to the greater Los Angeles area to support the team’s growing business on the West Coast. He was named a managing director at UBS in 2020. He earned bachelor’s degrees in economics and communications from Boston College and a Master of Business Administration from the University of Notre Dame.
Joining Cleary and Devine at 71 West are team members Abigail Harris, Matthew Kirshner, Chris Carbone, William Corman, Spencer Danziger and Nolan Morr.
Earlier this month, UBS Global Wealth Management announced a pair of financial adviser additions – Bryan Davidson and Daryl Holmes – to its Scottsdale, Ariz., and South Market offices, respectively. In total, they reported serving approximately $235 million in assets under management.
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