The firm does not sell products, collect commission or have a sales team, it says.

Lionshare Partners, a new fee-only wealth manager, has launched in Los Angeles.

Founded by Chris Jackson, the firm was designed with a fee model that is both capped and flat in mind as he was frustrated with how wealth management houses are “too enchanted” with M&A deals “that drive value, management stability and control away from clients”.

The firm does not sell products, collect commission or have a sales team, it says, in turn reducing the conflict of interest and overhead expenses.

"I knew there was a better way of doing business as a financial advisor and a more effective way to create returns for our clients, so I launched Lionshare Partners," Jackson said. "We aim to be our clients' chief financial officer and partner with the best institutional money managers, attorneys, tax professionals and insurance brokers.”