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$1.9 Billion Team Leaves Merrill Lynch to Go Indie With Summit Financial

$1.9 Billion Team Leaves Merrill Lynch to Go Indie With Summit Financial

A former Merrill Lynch advisory team has left the wirehouse to launch an independent practice with Summit Financial Holdings. SRM Private Wealth is the 11th team this year to join Summit Growth Partners, Summit’s partnership model that offers affiliate practices an upfront cash payment, an equity stake, and access to capital for acquisitions and growth initiatives in exchange for a cut of the advisors’ revenue. Merrill Lynch declined to comment on the departure.