One of four co-founders of Iconiq Capital has left to start a rival firm, while calling out conflicts of interest in the wealth-management industry.
Chad Boeding is opening Epiq Capital Group, which will cater to the same kind of ultra-wealthy clientele as his previous firm, according to a statement Tuesday from the new company. At least 10 former Iconiq employees joined San Francisco-based Epiq this month, according to their LinkedIn profiles. The adviser caters to clients worth at least $100 million and will offer direct investments. But unlike Iconiq, it won’t peddle its own venture or private equity funds.