A duo of advisor teams formerly affiliated with Bank of America-Merrill Lynch and Morgan Stanley have joined forces to launch Longleaf Capital Group, an independent wealth management firm with more than $2 billion in assets under advisement.
Longleaf launched on the Arkadios Capital platform as a hybrid registered investment advisor. It’s being led by six founding directors who bring a combined 175 years of industry experience to the RIA.
The team includes two former CPAs, four certified financial planner professionals, or CFPs, and several specialists with designations in institutional retirement plans, estate planning and tax optimization.
Jonathan Lee, the newly installed managing director of Longleaf Capital Group, said in a statement that the decision to unite after working for competing wirehouse firms reflects a growing national trend of advisors leaving large banks in favor of the independence and flexibility of the hybrid RIA model.
“By joining forces, we’ve combined complementary expertise in wealth management, personal financial planning, tax planning, institutional retirement planning and estate planning strategies under one roof,” Lee said. “Arkadios provides the infrastructure and resources to let us operate as entrepreneurs while still offering institutional-quality tools and support for our clients."
David Millican, CEO of Arkadios Capital, said Longleaf is in a position to deliver “truly comprehensive services to clients at the highest level.”
“This is the kind of high-caliber team and unique founding story that doesn’t happen often in our industry,” Millican added.
The new firm is based in Dothan, Alabama. In addition to Jonathan Lee, its founding partners include Todd Thornell Sr., Cory Singletary, C. Thomas Lee, George Liddon and Lee Forehand.
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