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.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.