Cruttenden & Co. in Joint Venture to Form Optivest

A former Smith Barney executive and an independent investment adviser have launched a joint venture with Newport Beach-based investment banker Cruttenden & Co. to form Optivest, a new financial advisory firm.

Mark Van Mourick, a former vice president at Smith Barney, Harris Upham, and independent adviser Garfield Logan each own 25% of Optivest. Cruttenden & Co. owns the remaining 50%. Optivest, which manages money for a fee, has about 200 clients in its Newport Beach office, Logan said.

The joint venture was agreed upon when stocks were exchanged from both companies, Logan said. Optivest has a minority interest in Cruttenden & Co., Logan said, but he would not estimate the value of the holding.

Cruttenden & Co. is a 10-year-old financial underwriter for high-tech companies.