Sandy Bolton, who stepped down as head of wealth administration options at Ameriprise a couple of 12 months in the past, has launched a brand new unbiased advisory apply with Indivisible Companions, the registered funding advisor created by John W. Thiel, the previous head of Merrill Lynch, earlier this 12 months.
Late final 12 months, Thiel introduced the launch of his new agency, designed, he says, to be an “accelerator” for formidable advisors seeking to develop their enterprise.
Bolton’s new apply, SanWealth Companions in Hazlet, N.J., is the second group to hitch Indivisible. She’s joined by her husband, Invoice Bolton, who will function chief working officer. He has greater than 35 years of expertise constructing two monetary know-how corporations, together with Convergent Monetary Applied sciences.
Sandy Bolton has had a 34-year profession in monetary companies. Previous to becoming a member of Ameriprise, she was chief integration officer and managing director at FS Investments. Previous to that, she was a managing director and head of managed investments in Merrill Lynch’s funding options group. A lot of Indivisible’s senior management got here out of Merrill.
“As property shift fingers and the demographics of these searching for recommendation proceed to evolve, advisors might want to higher perceive shoppers’ motivations and prioritize private connection and customised options—a chance we embrace at SanWealth,” she mentioned, in an announcement.
Advisors who be part of Indivisible have entry to household workplace companies, a know-how platform powered by curated capabilities and operational assist. They personal 100% of their very own apply and have the chance to personal fairness within the RIA.
Earlier this 12 months, the RIA recruited its first advisor group, New York-based Woodring I LeRoy Capital Advisors, with about $640 million in consumer property. The four-person group is led by founder companions Lee Woodring and Robert LeRoy, who have been beforehand with Merrill Lynch.
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 government at Merrill; Invoice Lorenz, a former division government and managing director at Merrill; Tom Corra, former head of company monetary planning and evaluation at Constancy; Tom Fickinger, a former divisional market government 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.
He lately spoke with WealthManagement.com about his agency’s mannequin, how his historical past with goals-based wealth administration will come into play, and the companies and know-how they need to provide advisors.
