A team of Connecticut advisers who manage $700 million for clients has broken away from Merrill Lynch Wealth Management.
The Andriole Group, based in Madison, is joining HighTower Advisors. Charles Andriole, the founder, is making the move along with the firm's other principals — Geoffrey G. Gregory, Robert A. DeLucca and Matthew J. Montana — who will all receive the title of partner and managing director at Chicago-based HighTower.
Three other advisers — Eric C. Hanson, Christopher P. McFadden and Alexandra J. Miele — and two senior client service associates are also part of the firm, which focuses on high-net-worth families, and related businesses and non-profit organizations.
Mr. Andriole was ranked in the top 10 Connecticut advisers by Barron's this year.
Ana Sollitto, a spokeswoman for Merrill's owner, Bank of America Corp., declined to comment on the departure.
The team is the 40th to join HighTower, founded in 2008, and is HighTower's only Connecticut outpost.