The way the numbers scale in 4E, there seems to be little point in starting a character at less than 4th level or so, unless someone is starting a whole party at a higher level. 1st level characters should be able to hang with parties 2-3 levels higher than them with a little bit of extra caution.
In any case, if the rest of the party is higher level, and someone is starting a character from scratch at the equivalent level, the DM should make sure the starting magic/wealth is not higher than everyone else's, regardless of the DMG guidelines.