Veteran Merrill Lynch Team Jumps Ship for the Indie Life
A team of Merrill Lynch lifers have opted for independence, joining the Stratos Wealth Advisors’ network of independent financial advisors, Stratos says.
Rockland, Mass.-based Veritas Boston Wealth Management includes financial advisors Mark Roman, Francis Perfetuo Jr., Kevin Dufault and Timothy Duggan and has committed assets of $250 million, according to a press release from Stratos.
All four advisors had been with Merrill Lynch since first starting their careers in the financial services industry, which ranged from under two years for Duggan to 25 years for Roman, according to BrokerCheck.
"For anybody that’s been in a broker-dealer world [or] a major wirehouse for 25 years, to go completely independent is a daunting task that we were not willing to take on at this junction,” Roman says in the press release. “Stratos is the necessary support group to make a big step without being overwhelmed by complete independence.”
Stratos Wealth Advisors, a Stratos Wealth Network company, managed more than $804 million in advisory assets as of the end of March, the company says. Stratos Wealth Network, meanwhile, includes a network of 284 financial advisors and financial planners across 87 offices around the country, according to the press release.