The wealth management team led by Robert Procaccianti, Jared Tack, and Doug Bennet has joined Merrill in Providence, Rhode Island, bringing $800mm+ in client assets from UBS. The move reflects a focus on long-term alignment, continuity for clients, and confidence in the firm selected to support the next phase of the team’s business.
Joining the advisors is registered wealth management client associate Stephanie Mondro.
A Team Focused on the Long Term
The team brings decades of collective experience and long-standing client relationships.
Rob began his career at Merrill in 2000 before moving to UBS in 2008, where he spent the next 17 years building his practice. Jared joined UBS in 2017 after entering the industry as a second career, and Doug spent more than 30 years at UBS serving clients and developing his practice.
Over time, the team began evaluating what they wanted the next chapter of their business to look like. Those conversations became more active as Doug explored UBS’s retire-in-place program, ALFA, which led the partners to assess their long-term plans, succession considerations, and whether their existing platform remained the best fit for their clients and team.
Why Merrill
As part of that evaluation, Rob and Jared reviewed how different firm environments could support their goals and client relationships over time. Their objective was not to pursue change for its own sake, but to identify a platform they believed offered the right combination of scale, resources, and familiarity.
Merrill emerged as the preferred choice. For the team, it offered a nationally recognized brand, a platform their clients knew well, and an environment they felt comfortable committing to for the long term. For Rob, the move also represented a return to a firm where he previously spent eight years, which he described as “going back home.”
Diamond Consultants’ Role
Diamond Consultants began speaking with Rob in 2014, well before any transition was under consideration. The long-term relationship centered around serving as a sounding board and helping the team stay informed on the evolving wealth management landscape as they considered their long-term objectives.
When the team began formally evaluating their options, Diamond Consultants helped Rob, Jared, and Doug clarify their priorities, understand how different models could support their business, and assess which environment best aligned with their goals and client needs. Through that process, the team determined that Merrill was the appropriate fit for the next stage of their practice.
This transition also reflects broader industry dynamics, including renewed recruiting momentum at Merrill and a growing trend of advisors reassessing their future at UBS amid changes at the firm.
Diamond Consultants is pleased to have supported Rob, Jared, Doug, and their team through this evaluation and transition and wishes them continued success as they serve clients from their new home at Merrill.
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