By Cynthia Fernandez, FinancialPlanning – Sanctuary wealth signed a four-person ex-Merrill Lynch Wealth Management team that managed $1.22 billion in assets, according to the firm. Advisor Bradley Bruce, of the former Bruce Wealth Management Group at Merrill, founded mFORCE Capital in Fort Worth, Texas.
By Ross Snel, Barron’s – An advisor team that managed $1.2 billion at Merrill Lynch has left the thundering herd to establish an independent wealth management firm in partnership with Sanctuary Wealth. Led by Bradley Bruce, a veteran of nearly 33 years at Merrill, the four-person team has launched mForce Capital in Fort Worth, Texas. At Merrill, the group was known as Bruce Wealth Management Group.
By Jake Martin, AdvisorHub – Raymond James Financial’s sweetened deals for experienced brokers in its employee division are paying off, even without matching the high-water mark offers of some rivals, Chief Executive Paul Reilly said on Monday.
The St. Petersburg, Florida-based firm’s hiring in 2021 is already “exceeding” targets that it set out at the start of the year, which “weren’t small,” and is ahead of last year’s pace, Reilly said during Morgan Stanley’s virtual U.S. Financials, Payments and CRE Conference on Monday.
Louis Diamond Quoted – By Bruce Kelly, InvestmentNews – Greg Fleming’s deep ties to his former firms, Merrill Lynch and Morgan Stanley, are paying off at his latest venture, Rockefeller Capital Management, the wealth management firm he helped launch in 2018 and is the CEO.
By Joyce Blay, Financial Advisor Magazine – Financial advisors Alan Green, Lori DosSantos and Andrew Heatley have partnered with Indianapolis-based Sanctuary Wealth to launch Green Wealth Management Group in Southbury, Conn., the companies said in a recent news release.
By Asia Martin, WealthManagement.com – LPL Financial recruited four advisors from Bank of America Merrill Lynch, where the team managed $650 million in assets under management.
Louis Diamond Mentioned – By Andrew Foerch, Citywire – NorthEnd Private Wealth is the first wirehouse breakaway group to join LPL Financial’s Strategic Wealth Services platform in 2021. Josh Brown, Scott Thompson, Joel Gray and James Cluverius Jr. formed the independent practice after leaving Merrill Lynch, where they report managing a combined $650m in advisory, brokerage and retirement plan assets. An LPL representative said they are the sixth group to join LPL’s advisor affiliation model, which launched last year.
Louis Diamond Quoted – By Jake Martin, AdvisorHub – A four-broker team in Greenville, South Carolina has left Merrill Lynch to launch an independent practice affiliated with LPL Financial’s fledgling Strategic Wealth Services model for wirehouse breakaways. The group, which moved on Thursday and is called NorthEnd Private Wealth, includes William Joshua (Josh) Brown, Scott Thompson, Joel Gray and James “Jake” Cluverius, Jr. They moved with their administrative assistants Jeannie Fowler and Ashley Thomason.
By Jake Martin, AdvisorHub – A solo advisor who had built a $279 million book as a broker at Merrill Lynch and other large brokerage firms has left the wirehouse world to start his own practice affiliated with Raymond James Financial in Ponte Vedra Beach, Florida.
By Mason Braswell, AdvisorHub – Merrill Lynch has lost two top-ranked brokers in metropolitan New York City, extending a round of recent departures. In the other move of a Forbes-ranked Merrill broker, Robert A. Bezzone has joined Transcend Wealth Collective, a New Jersey RIA co-founded in 2019 by an ex-Merrill complex manager.
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