Luminous Capital, the fast growing Los Angeles and Menlo Park-based wealth management firm, is gearing up to open its first office outside California in 2011.
Luminous expects to open an office in Austin by the end of the year, said Mark Sear, founding partner of the firm. It also plans to open a new office in Denver, Colorado, though no date has been set.
“We already have very good clients in both cities, and they like us enough to want to help us grow our business,” Sear said.
Luminous, which opened its doors in May 2008, has approximately $4 billion in assets under management, and has been one of the fastest-growing independent registered investment advisors on the west coast. The firm targets entrepreneur types, typically involved with start-ups, private equity, real estate or venture capital, who have at least $10 million in investable assets, Sears said.
Sear, a veteran of Merrill Lynch and Goldman Sachs, co-founded the firm less than three years ago with fellow Merrill and Goldman veterans David Hou and Alan Zafran, and Robert Skinner and Kim Ip, who also worked at Merrill.