Young people flock to Los Angeles with dreams of making it big. A new money management firm specializes in the ones who do.

Factory Capital, a registered investment advisory based in Inglewood, joins a cohort of wealth managers tapping into L.A.’s sports and entertainment ecosystem. Its target clients are cultural leaders like athletes, actors, musicians and content creators coming into sudden wealth, said Travis Henry, the ex-Morgan Stanley & Co. and Cresset Capital Management adviser heading the firm.

“When I was at Morgan Stanley in my early days, where I saw the market shifting was (toward) this next generation of wealth builders and creators,” Henry said. “When they were finished with their careers, they were thinking about what’s next: How do I continue to build a legacy? How do I continue to maximize my value? How do I create more wealth for myself?”

Henry’s team is nestled under Factory Holdings, a platform that offers athletes and entertainers family office services, media and branding support, philanthropic planning and access to private, off-market investments. 

St. Petersburg’s Dynasty Financial Partners is backing the RIA and helping it grow in record time, said Henry, adding that he hopes to bring the advisory to $1 billion in assets under management in its first year. The firm is ahead of schedule, drawing healthy client interest over the past few weeks, he said.

“Post-launch, we’ve received a lot of attention from potential clients, my existing clients,” he said. “There are a lot of folks that are committing. We’ve got operators and advisers coming on board and (are) just really excited about all the momentum.”

Managing new, ‘loud’ money

In Henry’s last role at $250-billion Cresset in Boynton Beach, Florida – which he joined in 2023 as part of its acquisition of True Capital Management – he worked with clients outside of the legacy, “old money” group. The wealth he helped manage was “loud and outside,” and had unique legacy, estate and investment needs, he said. 

Seeing a “real gap and opportunity to build long-term alignment and partnership with clients,” Henry took the independent route. The adviser’s exit from Cresset was marked by a lawsuit from the wealth management firm alleging he solicited clients to join Factory Capital before resigning in early May. The launch of Henry’s new firm came shortly after an Illinois judge blocked Cresset from obtaining a temporary restraining order against him. 

“I’m just really focused on building Factory out and pursuing this mission,” Henry said. “All that’s behind me, and now I can really, really turn it on.