“The advisor keeps getting marginalized and resources taken away to give to shareholders. We felt like that was wrong.”
Late last year, John W. Thiel, the former head of Merrill Lynch Wealth Management, announced he was launching an independent RIA, Indivisible Partners, designed, he says, to be an “accelerator” for ambitious advisors looking to grow their business.
Earlier this year, Indivisible added its first advisor team, New York-based Woodring I LeRoy Capital Advisors, with about $640 million in client assets.
Thiel and his team know something about running platforms for advisors. His co-founders include former chief operating officers, division executives and managing directors of Merrill Lynch. But he says he wants to build something different with Indivisible, focusing less on the markets and more on the planning and client outcomes.