Why This $1B Merrill Breakaway Bet on the Long-Term

“If we’re going to do this for the next 20 years, it can’t be here at Merrill.”

Leaving Merrill was a decision that Melissa Bouchillon didn’t take lightly. Especially as a loyal Resident Director for the firm.

But, also because she and partner/husband Kelly along with their team would be leaving a portion of their assets behind. Or as she put it, “Shrinking with an intent to grow.”

In our featured podcast interview, Melissa shares:

• What changed at Merrill—and how those pushes led them to acknowledge the pulls towards independence.
• How they were able to compensate a member of their team who recently signed on to CTP—and how “honoring their commitments” to this advisor drove their decision-making process.
• Why they chose to partner with Focus Financial—and the benefits of supported independence for those considering the leap.
• And ultimately how a producing manager or Resident Director can remain loyal to the firm—and still embark upon an exploration of other options.

It’s an important episode with key takeaways on the decision-making process, as well as what it takes to make the leap to independence.

Would love to hear your thoughts.

Best,

Mindy

How can a producing manager or Resident Director remain loyal to the firm and still embark upon an exploration of other options? Former Merrill Resident Director Melissa Bouchillon shares how leaving Merrill wasn’t an easy decision. And there were lots of considerations—her loyalty to the firm notwithstanding.

In this episode, Melissa shares why they choose to build their own independent firm, Sound View Wealth Advisors; how they rationalized leaving assets behind; how they compensated a team member who recently signed onto CTP; why they chose to partner with Focus Financial; and more. Listen here.

A Goldman Sachs Play in the Custody Game: What Could This Mean for Advisors and the Industry At-Large?

Recent moves by Goldman Sachs appear to indicate the firm is preparing to enter the custody space. What does this mean for financial advisors and the wealth management industry? Read more here.