A trio of financial advisors – Tom Ruggie, Alan Weinstein and Seth Ellis – have established a new wealth management firm called RWE Private Wealth with offices in Orlando, Florida, according to local media.

According to the Orlando Business Journal, Mr Ruggie is the founder of Ruggie Wealth Management; Mr Weinstein is a former Ernst & Young partner; and Mr Ellis is a former senior manager at Ernst & Young and KPMG.

RWE Private Wealth caters solely for high net worth individuals, but would appear to be focusing on what the firm views as an underserved segment of the market.

“Floridians who have a net worth under $15 million are overlooked and not given the proper attention they deserve,” Mr Ellis is reported to have said.

RWE Wealth is associated with Raymond James & Associates, the brokerage arm of the wider St Petersburg-headquartered investment and advisory firm Raymond James.