Avestar Capital Multifamily Office Founded

Avestar Capital has been launched as an independent advisory firm and multifamily office in the Dynasty Financial Partners network.

The New York City-based Avestar started business March 17 as a multifamily office and wealth manager for entrepreneurs and C-level executives. The founder and CEO of Avestar Capital is Xerxes Mullan.

Mullan previously worked at Merrill Lynch’s Private Banking Investment Group as a managing director of investments, international private wealth advisor. Joining him are Tonya Smoake, chief operating officer; Sanjeet Dass, vice president of investments; Jennifer Wolf, vice president of financial planning; and Alexa Cark and Sonia Krauss, client services analysts. They all previously worked for Merrill Lynch.

Dynasty works with companies that have at least $300 million in assets.