Merrill Lynch FA Managing $450M Goes Indie
Craig Robson, who had been with Merrill Lynch since 1994, has formed Regent Peak Wealth Advisors, bringing along analysts Kevin Manning and Nathan Hoyt, as well as registered senior client associate Carmen Laster and registered client associate Emily Raymond, according to a press release from Dynasty.
The team oversaw $450 million at Merrill Lynch, Dynasty says. Their new RIA tailors to corporate executives, business owners, multi-generational families, entrepreneurs and trustees and board directors, according to the press release.
“We are excited to launch Regent Peak Wealth Advisors because we believe we are able to better serve our client relationships within an independent advisory offering. Leveraging Dynasty’s capabilities will allow us to market ourselves to new opportunities, such as expanding our offerings to corporate executives,” Robson says in the press release. “By offering a more comprehensive range of advisory services, we will expand growth opportunities within our firm.”
Regent Peak has partnered with Dynasty for its technology, including its turn key asset management platform, and capital support services, Dynasty says. Regent Peak intends to grow its business through strategic acquisitions, according to the press release.
In January, Dynasty closed its in-house wealth management division, which had $2.2 billion in assets under management and $1.6 billion under advisement as of the end of 2017.
The company said at the time that it wanted to focus on its business-to-business offerings. Bringing on Robson’s new independent RIA follows about a week after Dynasty signed up an independent wealth management practice in Texas formed by a team of Morgan Stanley advisors who managed $6 billion at the wirehouse.
Merrill Lynch, meanwhile, also lost a broker in New York City, according to AdvisorHub. Mark Cassidy, who oversaw $32 million at the wirehouse, has joined the U.S. wealth unit of British firm Laidlaw & Company, the industry news website writes. Laidlaw has approximately 100 advisors in London and the U.S., according to AdvisorHub.
In addition, Matthew Liebman, manager of Merrill Lynch’s Boca Raton, Fla., complex, is relinquishing that role to become an advisor, the website writes. The wirehouse has not yet named his replacement, a Merrill Lynch spokeswoman tells AdvisorHub.
Furthermore, Mark Eckerline, market executive for Merrill Lynch’s Twin Cities complex, has retired, the website writes. Shawn Allen is replacing Eckerline on an interim basis, the spokeswoman tells AdvisorHub.