Merrill Lynch recently bolstered its ranks with the addition of a group of advisors managing $3.5 billion in client assets from J.P. Morgan Wealth Management.
The team of 12, now based out of Merrill’s office in Palm Beach Gardens, Florida, is led by senior financial advisors Salvatore Tiano and John Smyth. Tiano is a seasoned industry professional with nearly 35 years of experience, while Smyth brings just over two decades of experience to the table.
This team is dedicated to serving ultra-high-net-worth and high-net-worth clients and includes four wealth managers: Greg Saville, Daniel Tumba, Justin Makso, and Jason O’Brien.
They are supported by six client associates: Kristin Kochanski, Danielle Rojas, Elena Saveleva, Lina Hued, Hannah Foster, and Lou Ventura.
The team is joining Merrill's Private Wealth Management division under the leadership of Josh Moody, regional managing director for Florida, and it is also supported by Dan Markow, the Palm Beach Market executive.
Prior to joining J.P. Morgan, the team spent three years at First Republic, after a long tenure at JP Morgan Securities, illustrating its well-established background in wealth management.
The news of Merrill’s hefty addition in the Southeast comes shortly after several stories of advisor departures from the firm, including a $550 million team joining Dynasty Financial and a $700 million ultra-high-net-worth advisor duo switching to Sanctuary.
More broadly, there’s been decelerating advisor attrition at the firm, with annual head count decreases clocking in at 1,043 in 2021, 703 in 2022, and 445 last year, according to InvestmentNews data.
Iowa's Greenwood Wealth Partners exits D.M. Kelly as UBS and Ameriprise win Merrill Lynch recruits in California and Florida
Less than 1% of pool funds went to actual trading, CFTC says
Plus, SEIA builds a governed data foundation for its in-house AI and Snappy Kraken debuts a read-only marketing coworker for advisors.
He owes $364 million but pays $100 a month
Broadridge, Wedbush and Alaris Acquisitions have also filled senior wealth management roles with hires from J.P. Morgan, Osaic and SageView.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
