# Zephyr Investment Management

Zephyr Investment Management is a Multi Family Office based in Westlake Village, United States.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Westlake Village, United States
- **Region:** North America
- **Address:** Westlake Village, CA, United States
- **Founded:** 1997
- **Assets under management:** Undisclosed
- **Website:** zephyrwm.com
- **LinkedIn:** https://www.linkedin.com/company/cher-munoz-9433954

## Regulatory record

- **CRD number:** 166303
- **SEC file number:** 801-118365
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-03-31T05:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/166303

## About

Zephyr Wealth Management was founded in 1997 to serve the investment advisory needs of individuals, high-net-worth families, trusts, estates, and retirement account holders. The firm operates as a registered investment advisor headquartered in Westlake Village, California, a community in the Conejo Valley that serves as a financial hub for professionals managing wealth generated across Los Angeles and Ventura counties. Zephyr's client base is concentrated in Southern California, where proximity-driven relationships remain the dominant model for wealth advisory services. The firm provides discretionary portfolio management and investment advisory services, constructing individual security and fund-based portfolios tailored to wealth preservation and intergenerational transfer. Zephyr's client mix skews toward estates, trusts, and retirement accounts — structures that demand close coordination with legal counsel, tax advisors, and trustees. The firm does not operate pooled investment vehicles or private funds. Instead, it manages separate accounts for each client, a structure that aligns with its focus on estate-attached capital and retirement accounts where commingled vehicles introduce tax and distribution complexity. Team size and assets under management are not publicly disclosed, consistent with a boutique practice that serves a limited number of client families. Zephyr's lack of multicity offices, institutional marketing, or public-facing investment commentary reinforces its character as a relationship-driven practice rather than a growth-oriented platform. No recent fund launches, acquisitions, or strategic announcements have been identified through public records or regulatory filings. Zephyr's structural differentiator is its trust-and-estate alignment. A significant share of the firm's clients appear to access advisory services through trust vehicles and retirement accounts, which makes independent discretion, tax-aware execution, and fiduciary compliance central to the operating model. Unlike multi-family offices that layer on private investment clubs or venture arms, Zephyr remains a pure advisory shop — narrower in scope, but deeper in its integration with the estate and trust ecosystem that governs how most Southern California family wealth is actually held.

## Questions

### Is Zephyr Wealth Management a registered investment advisor?

Yes. Zephyr Wealth Management operates as a registered investment advisor (RIA), which means it has a fiduciary duty to act in its clients' best interests. RIAs in the United States are regulated by the SEC or state securities regulators and must file Form ADV disclosures detailing fees, conflicts, and services.

### What types of clients does Zephyr Wealth Management serve?

The firm advises individuals, high-net-worth families, trusts, estates, and retirement accounts. Trust and estate clients appear to represent a meaningful share of the practice, which shapes the advisory approach — portfolio construction must account for trust distribution rules, fiduciary standards, and intergenerational transfer objectives.

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Last updated: 2026-07-08T22:41:12.375Z

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