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ON THE MOVE-Merrill Lynch advisers leave to start wealth management firm
November 16, 2015 / 6:49 PM / 2 years ago

ON THE MOVE-Merrill Lynch advisers leave to start wealth management firm

Nov 16 (Reuters) - Former Bank of America Merrill Lynch advisers Paul Squarcia and Erik Wallin, who managed about $500 million in assets at the bank, have launched One Charles Private Wealth Management LLC, a investment advisory firm.

One Charles, based in Hingham, Massachusetts, launched itself with the help of Focus Financial Partners LLC.

Founded in 2006, Focus Financial Partners has grown by recruiting dissatisfied advisers from the four big wirehouse brokerages - Merrill Lynch, Morgan Stanley, Wells Fargo Advisors and UBS Wealth Management Americas.

Focus provides the firms with continuing technology and office support in exchange for partial ownership.

Squarcia, a 15-year veteran of Merrill Lynch, is the founding principal of One Charles. Wallin is a former first vice president at Merrill Lynch.

One Charles will have five additional employees providing support in areas of relationship management, operations and marketing.

One Charles will launch two new offerings for their clients: Circle of Care and Social & Conscious Investing.

Circle of Care will provide customized wealth management solutions, while Social & Conscious Investing will build portfolios with socially responsible investment options. (Reporting by Anya George Tharakan)

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