Two advisory teams have broken away from Morgan Stanley and Merrill Lynch and combined to create a new independent firm with more than $2 billion in assets under advisement on the Arkadios Capital platform.
Longleaf Capital Group, based in Dothan, Ala., consists of six founding directors. The advisors joining from Merrill Lynch include Todd P. Thornell Sr., a former managing director and senior financial advisor with the wirehouse, and Cory A. Singletary, a former senior financial advisor with Merrill Lynch. The team from Morgan Stanley includes C. Thomas Lee, a former senior vice president and wealth advisor at the wirehouse; George M. Liddon, a former senior vice president and wealth advisor; Jonathan D. Lee, a former first vice president and senior portfolio manager; and Lee E. Forehand, a retirement plan consultant and former Morgan Stanley corporate retirement director.
“By joining forces, we’ve combined complementary expertise in wealth management, personal financial planning, tax planning, institutional retirement planning and estate planning strategies under one roof,” said Jonathan D. Lee, managing director, Longleaf Capital Group.
Lee says they chose Arkadios for its infrastructure and resources. The Atlanta-based hybrid broker/dealer has had much recruiting success in recent years with its RIA-friendly approach. The firm has 75 offices nationwide and more than $14 billion in assets under advisement.
David Millican, CEO of Arkadios, said the company’s lack of private equity backing and 100% employee ownership are draws for advisors.
Longleaf provides financial and retirement planning, institutional retirement plan consulting, estate and tax strategies, alternative investments, insurance solutions, liquidity event planning and philanthropic advisory.
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