The new team will also examine needs of small business owners as part of its remit.

California-based Registered Investment Advisor Hewins Financial Advisors has built a separate team to serve needs of complex families, initially catering to more than 350 clients with a total of $1.8 billion in AuM.

Team Hewins, to give its name, is splitting from the CPA-registered financial advisor. The group will continue to serve clients from offices in Redwood City, San Francisco, Boca Raton and Miami. The company’s headquarters remains in Redwood City, CA.

"Our emphasis is focused on people with complex financial lives, including closely-held businesses and multi-generational families. For family business and family wealth to thrive careful planning and the development of a long-term strategy is required" Roger Hewins, CEO of Team Hewins, said.

Small businesses will also be part of Team Hewins’ focus, the statement from the firm said.

"Small business owners grapple with issues from succession and family participation in management to basic organizational and people issues. This focus may mask their concurrent needs for financial planning and investment advice. This kind of planning requires tools and expertise well beyond what is needed for traditional financial planning, but we have learned from experience that helping our clients address those issues is critical to their long-term success," Hewins said.

The leadership group has been a team for decades; Roger Hewins (CEO) and Martha Post (chief operating officer and chief compliance officer) have worked together since 1995. Other team members include John Bussel (chief investment officer), Mikhael Balachov (director of operations), Patrice Cresci (senior financial advisor), Ka-Tye Koo (operations manager), Thuong Thien (senior financial advisor), Karl Schwartz (senior financial advisor), and Eric Donner (senior financial advisor).