$400M Merrill team starts firm

Archford Capital will use platform provider Dynasty Financial

Apr 7, 2013 @ 12:01 am

By Dan Jamieson

A $400 million Bank of America Merrill Lynch team, led by James Maher, has left to form a registered investment advisory firm, Archford Capital Strategies LLC.

Based in Swansea, Ill., a suburb of St. Louis, the new firm also has an office in Creve Coeur, Mo.

Joining Mr. Maher in the move are partners John Russo, chief operating officer; Jerry West, chief investment officer; and Robert Schlueter, director of operations, along with four other staff members.

The team specializes in helping owners of closely held businesses sell their firms.

“We're very excited about being able to expand what we can do on the credit side for closely held businesses,” Mr. Maher said.

“Being independent expands our ability to reach out to other [lending] institutions. In the past, if it wasn't in the [Merrill] offering or it wasn't what the bank was interested in, a lot of times ... the project may have died at that point,” he said.

Mr. Maher, whose firm is using Pershing Advisor Solutions LLC as its custodian, expects to partner with Pershing's parent, The Bank of New York Mellon Corp., for small-business financing, or with other lenders available through his platform provider, Dynasty Financial Partners LLC.

The team also serves doctors, certified public accountants and attorneys, and does a lot of work with nonprofits, Mr. Maher said.

So far, there has been no reaction from Merrill since the team left.

“We followed the [recruitment] protocol, [so] the move has been pretty noneventful,” Mr. Maher said.

The transition to independence wasn't a huge culture shock, said Mr. Maher, who has been with Merrill Lynch since 2001 and began in the industry with Edward Jones in 1997.

“I grew up on a family farm in Mingo, Iowa, and I've always had an entrepreneurial spirit. We've applied the same discipline to [the team's practice] as if we owned the business ourselves,” Mr. Maher said.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

How 401(k) advisers can use 'centers of influence' to grow their business

Leveraging relationships with accounting, benefits, and property and casualty insurance firms can help deliver new business leads for retirement plan advisers.

Latest news & opinion

UBS continues to cut loans to recruits, while increasing compensation to brokers

The wirehouse reduced recruitment loans 20% and increased bonus loans 68% in the first quarter.

Things are looking up: IBDs soared in 2017

With revenue up, interest rates rising and regulation easing, IBDs are soaring.

SEC advice rule may give RIAs leg up over broker-dealers

Experts say advisers will be able to point to their role as fiduciaries as a differentiator in the advice market.

Brokers accept proposed SEC rule on who can call themselves an adviser

Some say the rule will clear up investor confusion, but others say the SEC didn't go far enough.

Cadaret Grant acquired by private-equity-backed Atria

75-year-old owner Arthur Grant positions the IBD for the 'next 33 years.'

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print