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Saturday, Jan 28, 2023

Wealth Manager Audent Capital Launches With $2 Billion Under Management

Audent Capital Partners, a Century City-based wealth manager with more than $2 billion in assets under advisement, officially launched this month after a year of quietly advising ultra-rich family clients.

Audent’s managing partners said they came up with the idea to create what they call a multifamily office advisory firm and asset management boutique during the height of the Covid-19 pandemic.

Former Allied Advisors President Brian Weiner and financial wealth management veterans Paul Feinstein from First Republic Bank and Mike Winn from UBS Group realized that the ultra-rich weren’t getting white-glove treatment during the pandemic.
Wealth advisers at larger institutions were outsourcing too much of their work to help out, and there wasn’t enough direct attention to discuss finances. That’s when the three principals decided to form a new wealth advisory business.

Weiner, 47, said he came up with the name for the firm by thinking back to his Latin classes at Crossroads School, a private college preparatory school in Santa Monica.
Audent means “dare,” “have courage” and “act boldly” in Latin.

While their clients have known that the team has been independent for a year, Audent is just now sharing its news publicly, partially because the pandemic is beginning to ease.

Audent Capital Partners is composed of two distinct but parallel companies: Audent Family Wealth Advisors, managed by Weiner and Winn, and Audent Global Asset Management, which is led by Feinstein.

Weiner would not identify Audent’s clients but said the firm serves affluent high-profile individuals and families, business owners, entrepreneurs, and entertainment professionals.

He said there are roughly 10 clients for the family office side and about 150 households on the global asset management side.

One client is one of the largest investors in Beijing-based ByteDance Ltd., the technology company behind video-sharing and social networking app TikTok.
“And so, when their private shares go public, several billions of dollars will be realized,” he said.

Weiner did name-drop a few clients he has worked closely with in the past. He said that he has provided financial guidance for Erica and Nicole Buffett, twins adopted by Peter Buffett, son of billionaire Warren Buffett. He also worked with author Mary Buffett, Warren’s daughter-in-law.


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