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Former $1 Billion Merrill Lynch Team Launches California RIA Alteri Wealth

Co-founders/managing partners Michelle Gruber, CFP, CRPC, and Alex Markowitz have launched Alteri Wealth, a registered investment adviser and wealth management firm based in Westlake Village, Calif. Prior to founding Alteri, the two principals along with its senior vice president Matthew Mullaly, collectively worked together at Merrill Lynch Wealth Management, where they oversaw $1 billion in client assets.

“We found ourselves wondering if there was a better way to serve clients,” said Gruber. “Founding Alteri Wealth is the culmination of our vision and provides us with the freedom and framework needed to fulfill our mission, embracing the fiduciary standard and always acting in the best interests of our clients.”

Alteri Wealth provides comprehensive wealth management services to high-net-worth clients, including financial planning, holistic advice, investment advisory, retirement income planning, risk management, and coordinated strategies to help clients identify legacy goals, protect assets, navigate mortgages, finance purchases, and feel confident financially. For ultra-high-net-worth families with complex financial lives, they also function as a family office and provide holistic tax planning, trust services, bespoke investment strategies, risk management, wealth transfer, personal CFO, bill pay, and concierge services in order to preserve wealth and maximize legacy while minimizing taxes.

The firm launched with over $1 billion in assets under management and specializes in working with high energy business achievers, founders, entrepreneurs, physicians, athletes, entertainers, and creators at the top of their game; successful women and women in transition; and family stewards looking for multigenerational planning.

Derived from the Latin term alteri, meaning “other people” or “somebody else” – altruism means putting the well-being of others above oneself. The co-founders decided to name their firm Alteri Wealth because not only do they now serve as true fiduciaries, but their clients also embrace philanthropic causes and charitable initiatives.

“As an independent firm, we needed to select a custodian/brokerage firm to hold client assets and maintain account information,” explained Markowitz. “We chose Charles Schwab & Co., Inc., a custodian for independent advisers and family offices, due to their robust platform and the access we now have thanks to Schwab Advisor Services and Schwab Advisor Family Office.”

Gruber has over two decades of experience in the wealth management industry. Her journey began in commercial mortgage before she found her stride at UBS Financial Services and later Merrill Lynch – where she spent nearly 15 years. Gruber’s mission is to empower women and couples through financial education and guidance. She has a heightened focus on financial planning, tax minimization, and generational wealth transfer. Gruber has a bachelor’s degree in finance from California State University Northridge.

After graduating from UC San Diego cum laude with a degree in biological anthropology and chemistry, Markowitz pursued a medical degree only to realize early on that his calling was in the financial services industry. He spent the next 13 years rising his way through the ranks at Merrill Lynch, ultimately becoming a senior vice president.

The rest of the team at Alteri Wealth is Veronica Hoy, chief operating officer; Roseann Higgins, chief compliance officer; Matthew Mullaly, senior vice president; Breann Young, client relationship manager; Celina Whinery, client operations manager; and Cheyenne Meinecke, client experience manager.