LPL swipes $580M team from Merrill Lynch

The Grafton Wealth team joining LPL from Merrill Lynch includes (from left to right) Tanya Carroll; financial advisors Bill Grafton, Will Grafton, Sarah Grafton, and Dex Grafton; and Percy Canteenwalla

The Florida-based sibling advisors are carrying on their father’s legacy with an RIA focused on high-net-worth families and business owners.

LPL is strengthening its independent advisory presence in the East with the addition of a family RIA practice in Florida from Merrill Lynch.

The firm announced Monday the launch of Grafton Wealth Advisors as an independent practice, in partnership with its Strategic Wealth Services model. Founded by financial advisors Sarah Grafton, William “Will” Grafton IV, and Dexter Grafton, the new firm is embarking on a mission to deliver personalized financial solutions.

With a reported $580 million in managed advisory, brokerage, and retirement plan assets, the trio is transitioning from Merrill Lynch to further their family’s legacy in financial advising started in 1972 by their father, William “Bill” Grafton III.

Operating out of Winter Park, Florida, the Grafton siblings bring a blend of individual expertise and a shared commitment to safeguard the financial well-being of their client base of multigenerational high-net-worth households and business owners.

They offer a suite of services to address complex financial needs including advanced estate and philanthropy planning, income tax strategy, trustee services, alternative investment platforms, as well as tailored banking and lending solutions.

The team is complemented by client relationship managers Tanya Carroll and Percy Canteenwalla.

“With our family dynamic and service-oriented team, we put clients at the center of everything we do and take a proactive approach to give them the best possible experiences and results,” Sarah Grafton, a 15-year veteran of the industry, said in a statement.

Her professional accolades include recognition from former presidents Barack Obama and Donald Trump, as well as local business awards.

The team’s decision to align with LPL Financial was driven by the desire for greater operational autonomy and enhanced client service capabilities, as well as the Strategic Wealth Services’ flexible model that allowed Grafton Wealth Advisors to launch as a boutique practice.

“This move puts us in a better position to provide highly customized strategies and independent financial advice in our clients’ best interests, outside of corporate pressure,” said Dexter Grafton.

The Grafton team’s commitment to service extends into their community and diverse philanthropic efforts, from supporting veterans to engaging with local charities.

Earlier this month, LPL onboarded seven Minnesota-based advisors from Osaic, where they had managed around $700 million in assets.

In late February, LPL landed another sizable book of business from Merrill Lynch as it welcomed the $1 billion team at Pennsylvania-based Continuity Private Wealth.