Avestar Capital LLC

Overview

Avestar is organized as a Delaware limited liability company and is wholly owned by Atash Holdings, LLC. Shilpa Konduri Mullan is the majority owner of Atash Holdings.³ The firm’s principal office is in New York, New York.³ A directory record dated September 24, 2026 lists three other offices, 16 employees, and regulatory assets under management of $2,066,742,787.¹

The same directory record lists 28 non high net worth individual clients, 142 high net worth individual clients, four pooled vehicles, five charities, and eight other clients.¹

History

Avestar’s SEC registration became effective on March 9, 2017.¹ The firm identifies Xerxes Mullan as its founder.⁴ The website states that Avestar is supported by a global team with 50 years of combined experience in wealth management, investment advisory, and family office services.⁵

Timeline

1. 2017Avestar’s SEC registration became effective on March 9, 2017.
2. 2026A directory record dated September 24, 2026 lists three other offices, 16 employees, and regulatory assets under management of $2,066,742,787.

Leadership

Shilpa Konduri is President, Stacey Gillespie is Chief Compliance Officer, Brian Fullerton is Chief Investment Officer, Ravi Gopalan is Chief Technology Officer, and Sarita Gupta is Marketing Advisor.⁴

The listed Atash Holdings board members are Dinyar S. Devitre, S.A. Ibrahim, Sundar Subramaniam, Xerxes Mullan, and Shilpa Konduri.⁴

Xerxes Mullan’s published biography cites prior roles at Merrill Lynch and Goldman Sachs, along with degrees from the University of Mumbai and Yale University.⁴ Brian Fullerton’s biography cites prior roles at Goldman Sachs, Pacific Life’s outsourced CIO business, Merrill Lynch Investment Management, Putnam Investments, and JP Morgan. It also identifies him as a CFA charterholder with an MBA from Wharton and a degree from the University of Virginia.⁴

Avestar announced Fullerton’s appointment as Chief Investment Officer on July 29, 2024. The announcement described responsibilities including asset allocation, manager selection, tax efficient strategies, and client solutions, particularly for the Indian diaspora.⁶

Services

Avestar provides discretionary and non discretionary portfolio management based on a client’s financial needs, investment objectives, risk tolerance, and requested security restrictions.³ Directory records list financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, and selection of other advisers among its advisory services.¹

The firm’s website lists global family office services, personal wealth advisory, insurance advisory, financial education and planning, investment planning and administration, financial reporting, and family office administration.² Its private wealth management offering is described for families, foundations, and individuals, with investment and planning strategies aligned to long term objectives.²

Avestar’s family office services are described as non advisory assistance with financial planning coordination, philanthropy consulting, balance sheet reporting, performance reporting, due diligence, and related administrative services.³ Due diligence may cover hedge funds, private equity, venture capital, and real estate, with work potentially outsourced to Atrato Advisers, Highmore, or other independent vendors.³

The firm may allocate all or part of a client account to third party money managers under sub advisory agreements.³ Its 3ALPHA DBA represents third party model portfolios supplied by InvestCo LLC, Nuveen Asset Management, and WisdomTree Asset Management, Inc.³

What the firm offers

• Investment management
• Financial planning
• Philanthropy
• Administration and bill pay
• Risk and insurance
• Private and alternative investments

Client focus

Avestar’s website describes its vision as serving South Asian families, entrepreneurs, companies, and foundations, with an emphasis on cultural understanding and community.⁷ The firm also describes private wealth management for families, foundations, and individuals.²

Investment philosophy and approach

The firm says it combines dynamic portfolio management, diversification, and disciplined decision making through digital tools, while operating as an independent fiduciary adviser and applying an endowment style approach to family balance sheets.⁸ It describes globally diversified asset classes, customized portfolios, active and passive investments, downside risk mitigation, and tax efficient partnerships.⁸

Internally managed strategies include Avestar Global Equity ETF, Avestar Global Thematic ETF, Avestar Investing Capital, Avestar Supervised Equity, Avestar Short Duration Fixed Income ETF, Avestar Taxable Fixed Income ETF, Avestar US Equity ETF, Avestar US Sector ETF, and Avestar Multi Asset ETF.³ The Avestar Global Equity ETF is described as approximately 66 percent United States all cap exposure and 34 percent international developed and emerging exposure, combining active managers with passive ETFs.³

Assets

The March 2025 Form ADV brochure reports $1,524,874,960 managed on a discretionary basis and $808,735,000 on a non discretionary basis as of December 31, 2024.³

By the numbers

FAQs

Related resources

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  FamilyOffices.com provides resources and a community focused on single family offices and wealthy families. Readers can compare operating priorities, governance questions, and outside support needs with the services listed for AVESTAR CAPITAL, LLC, including administration and bill pay, philanthropy, financial planning, reporting, and investment management.

• DataMFO fee types from Form ADV

  This Form ADV guide explains common multifamily office fee types and where readers may see them in adviser filings. A prospective client can use that framework when asking AVESTAR CAPITAL, LLC about costs connected to investment management, planning, reporting, family office administration, risk services, and private or alternative investments.

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Sources

1. SEC IAPD profile and directory record , accessed October 23, 2026; directory data as of September 24, 2026.
2. Avestar Our Services , accessed October 23, 2026.
3. Avestar Form ADV Part 2A, March 2025 , accessed October 23, 2026.
4. Avestar Our Leadership , accessed October 23, 2026.
5. Avestar homepage , accessed October 23, 2026.
6. Avestar announcement of Brian Fullerton’s CIO appointment , accessed October 23, 2026.
7. Avestar About Us , accessed October 23, 2026.
8. Avestar Our Investment Philosophy , accessed October 23, 2026.

Claim or correct this profile

This profile is a factual summary written in our own words from public sources. It is for information only. It is not an endorsement, rating, ranking or recommendation, and it is not investment advice. MultiFamilyOffices.com is not affiliated with the SEC or with this firm unless stated. Form ADV figures are self-reported by the firm.