Wavvest Hires Ex-Schwab Advisor With $1.4 Billion Book as Founding Advisor
Updated
Updated · Wealth Management · Jul 7
Wavvest Hires Ex-Schwab Advisor With $1.4 Billion Book as Founding Advisor
1 articles · Updated · Wealth Management · Jul 7
Summary
Vinnie Maliakkal, who managed $1.4 billion for 450 households at Charles Schwab, joined Wavvest Wealth as managing director and founding advisor after 11 years at Schwab.
Wavvest said the hire validates demand for its AI-native operating system, which aims to replace the fragmented mix of seven or eight tools many independent advisors use.
Any assets Maliakkal brings over will stay custodied at Schwab, while Wavvest also works with Apex Fintech Solutions through a March partnership tied to AI-powered planning.
Wavvest launched its in-house RIA in April with James Langer and about $270 million in assets, and says a third advisor is set to join in August with several more teams in the pipeline.
The Chicago startup, founded in 2024, licenses its technology to outside RIAs while expanding its own advisory arm and preparing to raise a seed round after a $2.7 million pre-seed.