Two financial advisers, John Choudhary and Anne-Day McCabe, left UBS Financial Services on 19 March to form their own firm, CAM Private Wealth Services.
They have opened offices in Reston and Tysons Corner, Virginia.
Choudhary will be managing director and PIM portfolio manager for the new firm and McCabe will be vice president and financial adviser.
They will be associated with Wells Fargo Advisors Financial Network, which will act as custodian and clearinghouse for their clients’ assets.
"We are so excited to have the best of both worlds – the flexibility and autonomy of an independent practice with no conflicts of interest, and the tools and resources of one of the largest investment firms in the world," said Choudhary and McCabe. "This move will enable us to greatly expand our offerings to clients."
Choudhary and McCabe formed a team when McCabe joined UBS last year. They manage assets for clients across the US, South America and Europe.