A seven-member team managing $525 million in assets at Merrill Lynch in Coeur d’Alene, Idaho, has moved to the employee unit of Raymond James.
Making the move are advisers Joseph R. Anderson, Matthew A. Lyman, Jeffrey L. Smith, Heather Bolster and Tyler Christian Anderl. Joining them are associates Heather Bloom and Christopher Dallenbach.
Anderson began his financial services career at Merrill Lynch in 1988. Lyman spent 15 years at Smith Barney/Morgan Stanley before joining Merrill Lynch nine years ago. Smith had been with Merrill Lynch for five years, after spending 17 years at Edward Jones.
Bolster spent seven years with Smith Barney as a sales assistant before working at Merrill Lynch as an advisor for the past nine years. Before his time at Merrill Lynch, Anderl was an associate at Ernst & Young in San Francisco and at Parametric Portfolio Associates in Seattle.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
