Former head of Merrill Lynch Wealth Administration John W. Thiel introduced in November that he was launching an impartial RIA, Indivisible Companions, within the first quarter of 2025. The RIA is now reside and has recruited its first advisor workforce, New York-based Woodring I LeRoy Capital Advisors, with about $640 million in shopper belongings.
The four-person workforce is led by Founder Companions Lee Woodring and Robert LeRoy, who had been beforehand with Merrill Lynch. They’re joined by Margaret Lawler, director of shopper service, and Stephanie Tozer, affiliate director of shopper service. Angelo Ponticello, a former teammate, has remained at Merrill.
“We now have seen firsthand from advisors and shoppers, the necessity for a brand new, nimble, and adaptable advisory mannequin has by no means been extra essential,” Thiel, founder and govt chairman of Indivisible Companions, stated in an announcement. “Advisors are our trade’s biggest asset, and extra should be carried out to assist them. Our agency was based to provide advisors the assets and independence they should present goal recommendation that’s at all times of their shopper’s finest curiosity.”
Advisors who be part of Indivisible have entry to household workplace providers, a expertise platform powered by curated capabilities, and operational assist. They personal 100% of their very own observe and have the chance to personal fairness within the RIA.
The agency is designed to be an accelerator for prime advisors trying to develop their enterprise.
“By means of Indivisible Companions’ distinctive mannequin that takes a multi-generational strategy to advisor expertise, the agency helps monetary advisors via their full enterprise lifecycle, from transition to rising and scaling their observe and eventual legacy via succession,” in response to the RIA’s assertion.
Thiel’s co-founders embody John Hogarty, former COO of Merrill Lynch; Peter Cieszko, a former head of enterprise strategic relationships at American Century; Paul T. Lambert, a former division govt at Merrill; Invoice Lorenz, a former division govt and managing director at Merrill; Tom Corra, former head of company monetary planning and evaluation at Constancy; Tom Fickinger, a former divisional market govt at Merrill; Michael Adornetto, a former COO of Merrill; Alok Kapoor, a former managing director at Merrill; and Stephen Hostetler, former COO of world wealth and retirement options at Merrill.
Thiel spent 27 years at Merrill Lynch, together with 5 years as head of the Merrill Lynch Wealth Administration enterprise from 2011 to 2016. He subsequently spent a 12 months as vice chairman of the worldwide wealth administration and funding administration enterprise at Financial institution of America.
Thiel at present sits on the board of administrators of Franklin Templeton, Cohen & Steers Revenue Alternative REIT Inc. and Decker Communications, amongst different organizations. He didn’t instantly return requests for remark.
In recent times, a number of former Merrill Lynch executives have launched their very own assist platforms for RIA companies, together with Sanctuary Wealth and NewEdge Advisors.