It has been just over a year since former Merrill Lynch executive, Chris Dupuy, broke away from the thundering herd.
After patiently waiting for all contractual obligations and restraints to expire, the wealth management veteran is hoping to help Focus Financial reach the next level of success. Chris Dupuy
offered 30 years of the service to Merrill Lynch
, and like many others who have departed in recent years, he
saw its purchase by Bank of America
as a catalyst for career reconsideration.
Simply put, the bureaucracy of the wirehouse life had worn him down--he had been with the firm since he
was 19 years old.
was best known as the head of Merrill's Pacific Northwest region, and for many of his
industry peers, and especially his Merrill Lynch
departure for Focus Financial was a shock. Chris Dupuy
joined the firm which few were familiar with in June, and he
stated growth potential and private equity backing as being the foremost factors for signing on.
Dupuy finds himself in familiar company at Focus Financial. The firm has feasted off recruiting dissatisfied advisors from the wirehouse firms, after it was founded in 2006 by advisors who came from Morgan Stanley, Merrill Lynch, Wells Fargo and UBS. Chris Dupuy now serves as the co-president of Focus Connections, alleviating the transition process for advisors venturing from wirehouse firms into the independent realm.
Dupuy's non-compete clause with Merrill Lynch
expired in December, and Focus Financial, should hav no issues in taking advantage of Dupuy's longstanding connection with members of the thundering herd.
Many of Merrill's top advisors will see 2009 retention bonuses expire this year. Focus Financial is yet another independent sitting at the tip of the spear, boasting incredible growth potential. Article Source | Reuters
| Financial Advisor Magazine
firstname.lastname@example.org (RJ& Makay)
Wed, 04 Feb 2015 23:21:14 +0000