Forming a strategic alliance with California-based Cornerstone Wealth Management, which looks after around $250 million of assets, Washington says this latest move is part of an “extensive expansion” along the West Coast. The firm says it is on the hunt for more family office partnerships throughout the country.

Cornerstone was founded in California in 1999 by Chris Meacham, president and chief executive, and says it primarily serves individuals with a net worth in excess of $10 million. It also runs a fund, the Cornerstone Diversified Portfolio Fund, for clients with less than $10 million to invest.

The alliance will see the firms sharing Cornerstone’s family office platform, and open up that firm’s diversified fund to Washington’s investors. TD Ameritrade will act as a custody partner for both firms' open architecture platform.

Headquartered in Middleburg, Virginia, Washington Wealth Management is a registered investment advisor, established to create a branch network of financial advisors. Since its inception in December 2010 it has expanded quickly, and John Simmons, the firm’s president, was appointed earlier this year to establish a California presence. He joined from Morgan Stanley Smith Barney. It has also opened an office in Richmond, Virginia.