Commonwealth Management Partners of Greenwich, Conn., has started a registered investment advisory and wealth management firm.
Commonwealth Asset Management LLC will initially focus on a variety of "conservative but highly flexible" fixed-income strategies, Commonwealth said Tuesday. The unit will target high-net-worth clients and selected institutional clients.
It will be managed by Henley L. Smith, whose 25 years in the fixed-income sector include 10 as chief investment officer of Gabelli Fixed Income LLC. He was also the investment chief of a New York wealth manager that specialized in high-grade municipal bond investing.