One of the partners of a wealth firm that numbered Facebook's Zuckerberg as a client, and who is also a former Goldman Sachs senior figure, has created a MFO.

It is turning out to be a busy week for wealth management launches.

A man who helped to found San Francisco wealth firm ICONIQ – a business whose clients included Facebook’s Mark Zuckerberg – has dived again into the space, creating EPIQ Capital Group. 

The new entity is billed in a press release as “an exclusive multi-family office providing select ultra-high net worth investors”.

EPIQ serves senior executives, business founders, and early employees of high-profile companies who have a net worth in excess of $100 million, according to the statement. The organization also maintains an “exclusive partner network” that includes investment managers, venture capitalists, private equity firms and corporate executives. The firm attracts and performs advanced diligence on high-growth direct investment opportunities not available to investors working with other advisors, it said.

Chad Boeding founded ICONIQ, described in a profile by the Wall Street Journal on Nov. 21, 2017 as a “secretive wealth manager”. That firm offered a “traditional wealth-management and family-office services to clients” (WSJ). Boeding also was a vice president at Goldman Sachs from 1999 through to March 2008.

“EPIQ is committed to its fiduciary role to provide unbiased, expert, advice. EPIQ’s launch is directly related to Boeding’s intense commitment to avoiding conflicts of interest commonly found at major banks and large advisory firms. EPIQ will never sell proprietary products nor have its own internal funds. Instead, the EPIQ team will customize core asset allocations, curate a steady stream of exceptional direct private investments and source best of breed opportunities offered by third parties,” the statement said. 

The founder’s old ICONIQ firm was known for its investment in “growth stage” private companies (WSJ), operating also in buyouts.

The announcement comes a day after another familiar – and controversial - figure in the US wealth management industry, Peter Raimondi, has founded Dakota Wealth Management, which is headquartered in Florida.

FWR is seeking further details about the new venture and the ways it differs, or is similar to, ICONIQ and may update in due course.