HighTower grabs Merrill Lynch adviser managing $320M

Laurie C. Kamhi is breaking away from Merrill Lynch Wealth Management's Private Banking and Investment Group, where she managed $320 million for well-heeled clients and institutions.
MAR 12, 2014
HighTower Advisors is speeding up recruitment as the year draws to a close with the addition of an elite New York-based Merrill Lynch broker to its partnership, the firm said on Monday. Laurie C. Kamhi is breaking away from Merrill Lynch Wealth Management's Private Banking and Investment Group, where she managed $320 million for well-heeled clients and institutions. Also moving with Kamhi is her all-woman team, which also includes a financial analyst and an associate, known as LCK Wealth Management. The announcement marks the third team that HighTower has brought on board within the past three weeks. The teams managed $1.23 billion for clients at wirehouse outposts in the Northeast. Ms. Kamhi worked in institutional stock and option trading as well as institutional sales at the now-defunct firms Dean Witter and Kidder Peabody. She started at Merrill in 1993, according to a Merrill biography that previously appeared on the firm's website. Ana Sollitto, a spokeswoman for Merrill parent Bank of America Corp., declined to comment. The team is the 41st to join HighTower since the firm was founded in 2008. But the recent pace of recruiting for the firm has slowed considerably from the past three years, according to data in the InvestmentNews Advisers on the Move database.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.