Virginia-based registered investment advisor Washington Wealth Management plans to launch at least three new offices in Southern California over the next 12 to 18 months, and has hired David Richman as a market area director.

Richman has 17 years of experience in the financial advisory industry and latterly served as a complex director for Morgan Stanley Wealth Management, covering the Irvine and Pasadena, CA, markets.

In related news, at the start of December Washington Wealth added California Wealth Transitions and Overlake Partners to its advisor platform. The move took its assets under management to $1 billion. Upon completion of the transition, the firm said its AuM will have increased from $100 million in December 2011 to $1 billion.

Meanwhile, back in September the firm brought in the Domari Wealth Management team from Wells Fargo, bringing with it $135 million in AuM and $1.4 million in revenues. Brian Danelian leads the team, which is also made up of J Allen Thompson and Christine Fountain. They are based in Washington Wealth's Woodland Hills office in Los Angeles, CA.

WWM has offices in San Diego and Los Angeles, CA; Las Vegas, NV; Seattle, WA; Westport, CT; Middelburg, VA; and Miami, FL.