(Bloomberg) -- David J. La Placa, a wealth manager in Deutsche Bank AG’s San Francisco office, resigned on Friday with three colleagues to start Intellectus Partners, a boutique firm catering to entrepreneurs in Silicon Valley and elsewhere.
Their new firm started today with La Placa, 46, as chief executive officer and co-founder Jay Casey, as president, La Placa said in an interview. Kelly Morton and Tina Chan left Deutsche Bank to become vice presidents. The group managed about $3 billion at Deutsche Bank, said La Placa.
The group is joining a stream of brokers that have left big banks and brokerages to start up their own firms, as technology makes reporting and trading easier and advisers relish in the chance to own equity in their own business. The group bolted with help from Dynasty Financial Partners, a 5-year-old New York-based company that finds office space, sets up trading systems and handles such details as printing business cards for brokers and advisers.
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