A trio of Merrill Lynch monetary advisors have teamed with an unbiased advisor to launch Vacation spot Wealth Advisors on Kestra Non-public Wealth Providers’ platform.
Headed by Chief Govt Officer and associate Ben McDonald, who comes from BGW Wealth Advisors — which he had based after breaking away from Edward Jones in 2021 — Vacation spot Wealth additionally consists of companions Bryant Trombly, Austin Palmer and Dee Buckminster, who come from Merrill, Kestra mentioned.
The crew, which goals to supply providers “just like that of a household workplace with out the required excessive minimums,” manages $500 million in shopper belongings, in response to Kestra.
Primarily based in Huntersville, North Carolina, Vacation spot Wealth may also have workplaces in Charlotte, Raleigh and Hendersonville, North Carolina; Myrtle Seaside, South Carolina; and Los Angeles, the corporate mentioned. For the previous Merrill advisors, leaving the wirehouse and establishing Vacation spot Wealth was pushed by the attraction of “the unbiased mannequin’s flexibility, autonomy and freedom from company agendas,” in response to Kestra.
“Shoppers need personalization. To that, we inform them that Vacation spot Wealth is a speedboat with the flexibility to make fast turns and modifications. Kestra PWS provides us the sources of a giant cruise ship, however leaves us with the speedboat flexibility our shoppers crave,” McDonald mentioned within the announcement.
Austin, Texas–primarily based Kestra had a strong first quarter bringing on new advisors, including 26 monetary professionals with a mean manufacturing of greater than $790,000, the corporate mentioned final month.
Kestra Monetary, which incorporates Kestra Non-public Wealth Providers and different affiliation fashions, has greater than 1,700 unbiased monetary professionals, the corporate added on the time.