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$1.2B RIA Leaves Merrill to Create New Firm

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What You Need to Know

  • The firm says it can serve its clients better as a fiduciary.
  • Dynasty Advisors continues to grow its network of advisors.
  • Fidelity Institutional is serving as custodian for Amplius Wealth Advisors.

A financial advisory team has broken away from Merrill Lynch to create Amplius Wealth Advisors, an RIA based in Blue Bell, Pennsylvania, that has become a member of the Dynasty Network of advisors and selected Fidelity Institutional as its custodian, Dynasty Advisors said Tuesday.

The principals of Amplius most recently worked for The Liebman Marks Group, a boutique wealth management group within Merrill Lynch Wealth Management that was advising on more than $1.25 billion in client assets, according to Dynasty. The team has expertise in comprehensive wealth planning, tax accounting, public finance, portfolio management, asset allocation, research, real estate and insurance.

Amplius has a team of eight professionals that includes four wealth advisors and principals: Samuel Liebman, founding partner and chairman; Matthew D. Liebman, his son, founding partner and CEO; Aaron Marks, founding partner and chief strategy officer; and Patrick J. Swift, vice president of wealth planning.

“We were content at our former firm and our growth over the past several years has been tremendous,” according to Matthew D. Liebman.

“But two years ago, we started the due diligence process out of our commitment to always try to do more and do better for our clients and their families,” he explained. “Once we completed an in-depth look at the landscape, we realized there is so much more we can do for clients now as a true fiduciary. In terms of firm growth, we anticipate receiving even more introductions to a broad array of quality clients.”

Merrill Lynch did not immediately respond to a request for comment on Tuesday.

Amplius plans to “tap Dynasty’s capabilities in capital markets, investment banking, investment research and consulting, advanced technology, proprietary analytical tools, and marketing services,” according to Dynasty.

Pointing out the name “amplius” means “larger amount” in Latin, Dynasty said the new firm selected the name because it is looking to help clients do more with their wealth and achieve greater goals.

The Amplius team “spent a year doing diligence and came to realize what an increasing number of advisors are realizing: that there are significant opportunities for both clients and advisors in the independent space,” according to Dynasty CEO Shirl Penney.

“Dynasty continues to see very strong demand for advisors like the Amplius team who see the benefits and want to join the independent movement,” John Sullivan, head of network development at Dynasty, said in the announcement.

“As true fiduciaries, and with the support of Dynasty’s platform, Amplius is well positioned to accelerate their already impressive growth trajectory while continuing to evolve with, and serve, their distinguished clients,” Sullivan said.

Prior to founding Amplius, Samuel and Matthew Liebman co-led The Liebman Marks Group within Merrill Lynch Wealth Management. Before joining Merrill in 2007, Samuel Liebman was a wealth advisor at Paine Webber and Prudential-Bache Securities.

Prior to joining Merrill, Matthew Liebman worked in the investment management industry in New York City in a variety of roles, including research analyst, portfolio manager and hedge fund manager. The only firm he was registered as a broker with before Merrill was UBS, from 2000 to 2004, according to his report on the Financial Industry Regulatory Authority’s BrokerCheck website.

Marks was registered with Merrill since 2011.

Swift was a wealth advisor at Merrill since 2016, working with The Liebman Marks Group for the latter three years. Before Merrill, he started his career in wealth management with Karr Barth Associates in Bala Cynwyd, Pennsylvania, and was also registered as a broker with AXA Advisors in 2015 and 2016.