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Independence in Aggregate: Former execs pool skills for Coastal Bridge Advisors

Independence in Aggregate: Former execs pool skills for Coastal Bridge Advisors

As many investors across the country abandon the equity market, the principals of Coastal Bridge Advisors of Westport are drawn to it. Jim Pratt-Heaney of Weston and three other former executives with Merrill Lynch’s Private Banking and Investment Group in Westport began researching breaking off on their own...

Street Moves: Merrill Team Sets up Independent Firm

Street Moves: Merrill Team Sets up Independent Firm

NEW YORK (Dow Jones) A team of financial advisors who managed nearly $1 billion in client assets left Merrill Lynch & Co. (MER) on Friday to set up their own independent firm, according to a spokesman for Pershing LLC, a unit of Bank of New York Mellon Corp....

$1B Merrill Team Bolts to Form Indie Firm

$1B Merrill Team Bolts to Form Indie Firm

A four-member team running nearly $1 billion in client assets left Merrill Lynch last Friday and on Monday turned on the lights for a new wealth management shop in Westport, Conn. The move is yet another high-profile example of the rising outflow of wirehouse brokerage advisors to the...

Ex-Merrill Lynch Westport Team Sets Up Own Firm

Ex-Merrill Lynch Westport Team Sets Up Own Firm

A four-person team that managed nearly $1 billion in client assets has left Merrill Lynch to launch a new independent firm in Westport. The team members–Bill Loftus, Bill Lomas, Kevin Burns, and Jim Pratt-Heaney–made the jump following last month’s announcement that Bank of America is buying Merrill Lynch...

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¹ This award was issued by Five Star Wealth Professional on September 29, 2022 for the time period 2/28/2022 through 9/2/2022. Fee paid for use of marketing materials. To receive this honor, a wealth manager must satisfy 10 objective eligibility and evaluation criteria.

² Award evaluated time period of January 2021 through December 2023 team AUM. Top 100 RIA category awarded June 20, 2023. Participation in this ranking is free, and AdvisorHub receives no compensation from the participating advisors.

³ This award was issued on 11/1/23 by Five Star Professional (FSP) for the time period 2/13/23 through 8/31/23. Fee paid for use of marketing materials. Self-completed questionnaire was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria. 3,564 Connecticut-area wealth managers were considered for the award; 313 (9% of candidates) were named 2023 Five Star Wealth Managers.