Group of Merrill Lynch advisors departs to form new independent practice

On Behalf of | Sep 29, 2021 | Firm Transition

A group of five Merrill Lynch advisors have announced that they are leaving the firm to form their own registered investment advisory firm, according to AdvisorHub. The team is comprised of brothers R. Scott Bills and Brett R. Bills, Teresa L. Friess, Aaron P. Seeman and Joshua DeLoach, who will be joined by four client associates.

The Colorado-based group, who previously managed $1.75 billion in client assets at Merrill Lynch, said the new firm will be called Nilsine Partners. Among the services they will offer will include banking, lending, investments and financial planning for business owners.

The firm worked in partnership with Dynasty Financial Partners, which provided financing for the launch.
In their announcement, the advisors said that starting their own independent practice will provide them with a wider selection of investment products to work with. They added that they will look to expand in the future by developing a new advisor recruiting and training program or purchasing local RIAs.

Transitioning employment in the financial services industry requires counsel that can evaluate any potential legal implications, so you can properly manage risk and focus on your new firm. At Lewitas Hyman, we have years of industry experience advising financial firms and registered representatives on firm transitions. If you are in the midst of such a transition, we will help guide you through the process and limit the risks you face during this time. For more information on our services, you can schedule a consultation with our Chicago financial professionals transition lawyers by calling us at (312) 291-4600 or completing our online contact form.

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