Merrill Adds $13B Team from Morgan Stanley's Graystone Consulting
Merrill Private Wealth Management has acquired a team of 14 professionals, including six advisors and eight support staff members, from Morgan Stanley’s Graystone Consulting division. The group manages over $13 billion in client assets across ultra-high-net-worth families, entrepreneurs, corporate executives, and retirement plans. This move comes after the team had been with Morgan Stanley since at least 2009, leaving an institutional practice that oversees about $747.7 billion as of late 2024. The addition is intended to strengthen Merrill’s institutional capabilities following a significant loss last year when OpenArc Corporate Advisory left for Dynasty Financial Network. Merrill has been working to recover from the departure by seeking legal action, though recent court rulings have dismissed its lawsuit attempt due to FINRA arbitration rules. Now, the new team joins an office led by Greg McGauley and Nathan Marsden in the Northeast region of Private Wealth Management.
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Topics: advisor team move institutional clients wealth management