Oregon advisers blaze their own trail

Team from Merrill Lynch that advises on $700M in assets forms RIA partnership

Mar 4, 2014 @ 11:23 am

By Trevor Hunnicutt

A group of Portland, Ore.-based Bank of America Merrill Lynch veterans that advises on more than $700 million in client assets has broken away to form its own registered investment advisory firm, according to a statement issued Tuesday by the firm's platform provider.

Three advisers — David Christian, Brian Hefele and Jeffrey Krum — are starting Cable Hill Partners, the new firm's investment and technology platform provider, Dynasty Financial Partners said in a statement.

The advisers will be joined by three client service associates, according to the statement.

Fidelity Investments will be the firm's primary custody and clearing service provider.

Mr. Christian was ranked as a Barron's top adviser in Oregon for this year, according to the statement.

The three advisers hold a number of credentials: two certified financial planners, two certified investment management analysts and one chartered adviser in philanthropy.

Mr. Krum said the new team decided not to move to another firm that would provide an upfront payment in exchange for owning part of their business because "they then get a piece of your hide."

"That didn't appeal to us because we wanted to look in our clients' eye, embrace that fiduciary role and tell them this is our firm, this is what we do for you."

A spokeswoman for Bank of America Merrill Lynch, Ana Sollitto, did not immediately respond to a request for comment.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

The bizarro world of DOL and SEC rule supporters

Managing editor Christina Nelson talks with senior reporter Mark Schoeff Jr. about why groups that supported the Labor Department's fiduciary rule oppose much of the SEC advice package, and vice versa.

Latest news & opinion

10 most affordable U.S. cities for renters

Here are the U.S. cities that are most affordable for renters, according to Business Student.com, which compared the cost of rent to average salaries.

9 best - new - financial adviser jokes

Scroll through for nine new financial adviser laughs.

Fidelity CEO says zero-fee funds aimed at expanding its universe

Johnson says way to prosper in financial services is 'by building relationships.'

SEC advice rule contains a huge hole

Jay Clayton aims to clear up investor confusion by drawing a distinction between brokers and advisers in the agency's proposed package of revised standards. But where do dual registrants fit?

9 signs it's time to fire your client

Here are signals that a client should be asked to leave, according to experienced financial advisers.

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