Industry vet Kara Boccella launched a new RIA on Monday, the Santa-Monica, California-based
Boccella and her team bring $1.2 billion in client assets to the new firm. Boccella serves as founder and managing partner. Devon Galindo is a partner, Rebecca Tipp and Laura Lemoine are directors and Lonny Elfenbein is chief compliance officer. The firm has chosen Fidelity Investments as its custodian.
Boccella and Galindo have worked together for 15 years, with Galindo being Boccella's first hire at the Los Angeles branch of then New York City-based RIA KLS Professional Advisors.
"It's been really fun to have the continuation of the team, and they're really thrilled about the new platform, the things that Serenus stands for, and the vision that we want to continue to bring to light for our clients," said Boccella.
More recently, Bocella and Galindo both worked as advisors at the California office of North Palm Beach, Florida-based RIA Certuity.
"We thank Kara for her contributions to Certuity and wish her well in her future endeavors," said Rich Bursek, president of Certuity.
The firm's name, Serenus, comes from the Latin word for "serene." Boccella said that the term is meant to evoke a sense of serenity, peace of mind and tranquility.
"Those are what we're trying to create for our clients: that they know that their assets are safeguarded and they have the best team that they're working with," Boccella said.
Serenus' logo symbolizes water, a "universal metaphor for tranquility and clarity," which is meant to convey the sense of calm that Boccella said she wants clients to get from Serenus's financial services.
Boccella wanted to start her own firm to have more control over how her team approaches client services.
"I do think we are different from a lot of other firms in the way that we work with our clients, and I wanted a platform that would allow me to continue to work with my clients in the way that I thought would be in their best interest," Boccella said.
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While the clientele of Serenus also includes C-suite executives, entrepreneurs and high net worth individuals and families, the firm is primarily focused on serving law firm partners. Boccella said that two-thirds of the team's clients are partners at the top 25 American Lawyer-ranked firms.
"Law partners are very high-income earners," said Boccella. They are very skeptical. They want to work in a conflict-free environment, and they expect a high level of professional service, all of which we bring to the table. And so they were really just a natural fit."
Boccella said that what sets Serenus apart is the advisors' involvement in executing, not just providing, clients' financial plans. From sourcing products and lenders included in recommendations to proactively looking for opportunities to help, Boccella wants to reduce demands on clients during the planning process.
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"We really bring things to conclusion for every recommendation that we make for our client, and I do think that that is unique and different from most other advisors, where sometimes you'll walk into a firm and they just give you a plan and say, 'Here you go,'" Boccella said.
Serenus' services will include "anything that has a financial element," including portfolio construction, investment management, trust and estate planning, mortgage planning, life event planning, career changes, cash flow management planning, tax planning, charitable giving, legacy planning and advising on 529 plans.
While the team currently only has two advisors, they hope to recruit more in the future. With 40% of its clients situated in New York, New Jersey and Connecticut, Boccella would like to explore adding an advisor in the East Coast area, as well as elsewhere in the country.
For now, Boccella wants to ensure that clients continue to receive a high level of service as the RIA gets on its feet.
As a referral-based firm, Boccella wants to bring in new clients, as most of Serenus's clients followed the team from Certuity. Since launching, the firm has brought in three new clients.
"We're lucky enough that we have a robust client base and that our clients think highly enough of us that they're referring their friends to us so that organic growth is something that we want to continue to focus on," Boccella said.
