Michael Evans and David Jasper have opened San Francisco-based Beacon Coast Partners, taking a five-person team that previously managed about $3.5 billion at UBS into the independent RIA market.
The new firm targets ultra-high-net-worth founders, executives and early employees before and after liquidity events, with planning centered on asset allocation, cash-flow modeling, tax and estate strategy.
Beacon Coast is employee-owned by Evans, Jasper and three other partners, uses Fidelity Investments for custody, and says it operates as a fiduciary without proprietary products or institutional mandates.
The move adds to UBS's recent advisor exodus, which has been tied in part to compensation changes the bank made to cut costs.