Merrill Lynch Advisors Trust The Gershman Group To Handle Their Transition

As a years-long exodus from Merrill Lynch seems to continue unabated, one recruiting firm has emerged as a leader amongst those seeking to find greener pastures across the wealth management landscape: The Gershman Group.

By the numbers, more than $200B in client assets have migrated away from Bank of America and Merrill Lynch in the past few years. As long-tenured advisors managing those assets seek to find firms that meet their clients� needs, they�ve routinely turned to one company to manage that process on their behalf.

The Gershman Group, with over 50 years of wealth advisory recruiting. As a family company, Norman Gershman founded the firm after a 25-year career at Merrill Lynch.

�Our goal is never to urge a team to leave their current firm as the first option but only as a Plan B. An evaluation of their current firm is an important part of the process.� Says Roger Gershman, the firm�s CEO who, like his dad, spent 25 years as an advisor at prestigious firms like Hambrecht & Quist and UBS PWM.

�The wealth management landscape is rife with �top of the market� opportunities for advisors of scale at large banks, boutiques, and independence. I spend much of my day answering many similar questions:

• Why did they leave?
• What was the economic package?
• Bank vs Boutique vs Independent?

Not only are we seeing record economic structures but successful transitions of 80% of assets or more within literally 45-60 days vs the old days of 6-9 months or longer.� says Roger Gershman.

Quotes a former ML Advisor: �TGG was extremely knowledgable about my choices of platforms and helped me negotiate the highest possible deal.�

Their history as a family company within wealth management is unique and has engendered trust amongst Merrill Lynch advisors for decades. Advisors have come to see The Gershman Group as a bespoke organization that makes connections at every touchpoint in a potential transition: confidential concierge private meetings; deal construction; platform due diligence; legal contract language; and even negotiating banking referrals baked into deals.

�What we have found is that when advisors question BOA�s dedication to Merrill�s traditional advisor-centric culture, they reach out to us for an objective opinion about what is really going on there. Exploring other competitive platforms and having a Plan B is a healthy exercise that may just offer a better supportive working environment for them, their families and certainly for the better interests of their clients � � Roger Gershman.

Sponsored by The Gershman Group

The original release can be found here.