He will offer consultancy services to the international wealth management industry, initially focussing on insurance companies, banks and wealth management companies in the UK and European markets.
The London-based company has now opened to business and is already working with several clients.
The venture comes after Jelly caused a stir in December by leaving his head of wealth planning role at Skandia for the second time after just 10 months.
A Skandia spokesperson said he departed "by mutual consent" with the company.
He first left the company in December 2010 to take a position at UK advisory firm St James’s Place.
On his new venture, Jelley said: “I am pleased to have experienced so much interest from across the market and am looking forward to sharing my experience more widely in contract, interim or permanent positions.”
He added that the company has bigger plans for the future.
“I will absolutely be looking to expand further than the UK and Europe in the long term," he said. “I would like to expand internationally and across border, for example into the Far Eastern market.
“There are a lot of really interesting things going on in the offshore jurisdictions and they are looking to Europe for leads."
