Advisers managing $250 million in assets have left Bank of America Merrill Lynch to join the HighTower Advisors. HighTower will launch The Thrush Group, an advisory practice based in Westport, Conn. It will be led by William L. Thrush and Meghan G. Rump, according to a statement from HighTower. "We joined HighTower for its sophisticated platform and client-first approach to wealth management," said Mr. Thrush in the statement. (More: See all the latest moves in InvestmentNews' Advisers on the Move database) The Thrush Group will be the 10th team to join HighTower this year, the statement said. Susan Atran, spokeswoman for Merrill Lynch, confirmed the advisers were previously with Merrill Lynch in Greenwich, Conn., but declined to comment further. According to Mr. Thrush's BrokerCheck profile, he had worked at Merrill Lynch since 2007. Prior to that, he was with UBS Financial Services for more than five years. There are two complaints listed on his profile that have been closed. Ms. Rump's BrokerCheck profile shows a similar background as Mr. Thrush's. She was with UBS for just over a year before joining Merrill Lynch in 2007. She has no complaints listed on her profile.
The financial advice industry has been facing inquiries into its cash sweep programs for years now.
Investor money allegedly went to strip clubs, exotic cars, and landscaping
Procyon adds $415 million in assets under management in New Jersey while Savant picks up a $213 million Southern California planning firm
With a growing number of real estate-rich Baby Boomers aging into retirement, some advisors may be failing to consider all the options available for those clients' assets.
Cornerstone Advisors study reveals compliance bottlenecks stall campaigns weeks after customer opportunities close.
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