A Merrill Lynch team with about $1 billion in assets has broken away to form an RIA in partnership with Dynasty Financial Partners.
Advisor Matthew Celenza and his colleagues with the newly formed Boulevard Family Wealth, based in Beverly Hills, California, previously worked for Merrill Lynch’s Private Banking and Investment Group. Celenza has been in the business for about 20 years and was with Merrill Lynch since 2012.
Moving to the RIA with Celenza are Shannon McLaughlin and Andrea Shieh. Also, Andrew Aiello — who was a senior vice president in Merrill’s Ultra High Net Worth Solutions department — has joined the RIA.
“We are extremely proud and excited to be partnered with Boulevard Family Wealth’s remarkable team, and we welcome Matt and his team to our network of independent advisors,” said Dynasty Financial Partners President and CEO Shirl Penney in a statement.
The RIA will use Dynasty’s technology platform, the Dynasty Desktop, and its digital client experience applications and client-facing reporting packages. The team also will rely on the institutional research capabilities of Callan Associates and a suite of private offerings for its ultra-high net worth clients.
“There has been increasing momentum in the move toward independence on the West Coast,” said David Weiner, Dynasty’s director of network development–Western Division, in a statement. “We are proud to partner with Boulevard Family Wealth, an exceptional independent firm well-positioned to be a leader in Southern California."
Boulevard Family Wealth has chosen Schwab Advisor Services as its custodian.
“Our immediate size, along with our partnerships with Dynasty Financial Partners and Schwab Advisor Services, will enable us to act with the clout of an institutional Wall Street firm while maintaining Boulevard Family Wealth’s very personalized boutique feel for each of our clients,” explained Celenza in a press release.
UBS, Ameriprise News
UBS said advisors Brian Meulebrouck and George Andrews have joined it from Merrill Lynch in Birmingham, Michigan.
Both advisors had spent their entire careers at Merrill Lynch — for 22 and 50 years, respectively. Andrews first worked at Merrill with Meulebrouck’s father Roland, who retired a few years ago.
The team has about $220 million in assets and trailing-12-month production of $1.2 million.
In Cincinnati, a brother-sister team from Merrill Lynch moved to UBS — Jackie Kunkel, CFP, and Don Kunkel, CFA. Their combined AUM is about $755 million.
Jackie started at Merrill in 1988, according to FINRA BrokerCheck, while Don began work as an advisor at Merrill in 2000.
In addition, Ameriprise Financial says that Charles White of Camden, Maine, recently joined its franchise channel from Raymond James Financial Services, where he had been an independent advisor for the past two years. White has about $177 million in assets.