• Home
  • Media
  • Merrill Lynch Advisers in Portland Break Away (WSJ)

Merrill Lynch Advisers in Portland Break Away (WSJ)

Three financial advisers in the Portland, Ore., office of Bank of America Corp.'s (BAC) Merrill Lynch have left the firm to launch an independent investment advisory firm.

The newly formed Cable Hill Partners is now partnered with platform provider Dynasty Financial Partners.

David Christian, Jeffrey Krum and Brian Hefele spent roughly 15 years, 30 years and 19 years, respectively, at Merrill before leaving the firm last week, according to Financial Industry Regulatory Authority records. While at Merrill, they collectively advised clients on more than $700 million in assets, according to Dynasty.

The three advisers had an eye on leaving Merrill and creating a new team starting roughly two years ago, according to Mr. Christian. Mr. Krum said they looked at all options, including other big firms, before choosing Dynasty.

"It made no sense for us to say we were at brand X yesterday and now we're at similar brand Y today," said Mr. Krum.

The three advisers said they plan to grow their firm both organically and by doing so-called tuck-ins, which involve bringing other advisers in the area on board.

Cable Hill Partners will access Dynasty's investment platform. It will use Fidelity Investments for its clearing and custody services.

One of a handful of high-profile destinations for advisers who break from the major brokerages, Dynasty was started in 2010. It provides independent adviser teams with access to a platform for trading, clearing, research and other support services. While it does offer financing options for advisers setting up their own firms, it doesn't own the firms and the advisers aren't employees of Dynasty.

A spokeswoman for Merrill didn't immediately return a request for comment.

FULL ARTICLE

-Write to Corrie Driebusch at This email address is being protected from spambots. You need JavaScript enabled to view it.

Contact Us

To experience Advice at a Higher Level, contact us for an informal meeting or no-obligation portfolio assessment.
Cable Hill Partners
806 SW Broadway
Suite 1000
Portland, OR 97205
p: 503.765.1223
t: 888.313.0417
f: 503.765.1224
e: This email address is being protected from spambots. You need JavaScript enabled to view it.
Jackson Tower, Portland, OR
© All materials are copyrighted 2017 Cable Hill Partners LLC.