A group of ex-Barclays wealth management professionals have set up their own firm.

Six former wealth management professionals at Barclays have launched Summit Trail Advisors, an investment-focused firm, via Dynasty Financial Partners.

The move comes after Barclays said in June that it is selling its US wealth management operations to Stifel Financial in a deal expected to close this November.

Summit Trail Advisors has over $3 billion in client assets and was founded by Jack Petersen, James Cantelupe, Peter Lee, Tom Palecek, David Romhilt and John Scarborough.

The firm has offices in New York, Chicago and San Francisco.

Overall, the founding six partners have worked together for over a decade and bring experience from having worked at Barclays Wealth, Lehman Brothers, Goldman Sachs, AllianceBernstein, Morgan Stanley and Cambridge Associates.

Petersen and Romhilt will be based in New York City; Lee will be based in Chicago; Cantelupe will split his time between Chicago and New York City, and Palecek and Scarborough will be based in San Francisco.