Merrill Breakaway Advisor Roundtable: How to Recreate the Community, Culture, Camaraderie, and Competitive Spirit of the Wirehouses

The Diamond Podcast for Financial Advisors

With Michael Henley, Founder & CEO of Brandywine Oak Private Wealth; Matt Liebman, CEO of Amplius Wealth Advisors, Jerry Davidse, CEO of Presilium Private Wealth

Overview

Three Merrill breakaways offer unique perspectives on the process of considering change, life outside the wirehouse, and filling the gaps that one might experience when leaving a big brand name behind to become an independent business owner.

Watch…

Listen in…

> Download a transcript of this episode…

NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.

About this episode…

Advisors who are considering the leap to independence often share their concerns about leaving behind the culture, community, and support they’ve grown accustomed to in the wirehouse world.

And that’s perfectly valid.

While many advisors are vocal about the lack of freedom and control at the big firms, there are still a lot of positives—like having a well-known brand with a seemingly endless budget behind you and the ability to create a strong foundation for success.

On the other side, there are those who’ve made the break to independence and share that life outside the walls of the wirehouses is pretty amazing.

For this special episode, we invited three such breakaway advisors who developed extraordinary independent businesses to discuss how they did it. That is, to offer their trade secrets to creating businesses that merged the best of the wirehouse they grew up in with the freedom and control they were searching for.

Former Merrill Advisors Michael Henley, the Founder and CEO of the $1.6B Brandywine Oak Private Wealth, Matt Liebman, CEO of $1.5B Amplius Wealth Advisors, and Jerry Davidse, CEO of $500mm Presilium Private Wealth join Louis Diamond to share their journey, including:

• The changes they witnessed at Merrill—and how each impacted their decisions to launch their own firms.
• Leaving Merrill—and the roadblocks they hit along their journey.
• Their home-grown community—and how this group of like-minded business owners fills the gap of what they might miss from the wirehouse, including camaraderie and collegial support.
• The single most impactful process or tactic they’ve employed—and how it influenced growth.
• Plus much more—including a Founder’s Blueprint segment.

It’s an episode that shares different points of view with a common goal: To do what’s best for their clients and business lives. Available on audio and video—so be sure to listen in or watch.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

Related Resources

A Diehard Merrill Advisor’s Journey to Independence
Michael Henley, a 34-yr old “diehard Merrill Lynch advisor” and team, with a partner less than 10 years from retirement, came to a point at the wirehouse when it was more about “jumping through hoops” for the bank than doing best for their clients.

$1B+ Multi-Generational Merrill Breakaway Team Leaves Behind the Big Brand to Gain “More” for Clients
Matt Liebman, Founding Partner and CEO of RIA firm Amplius Wealth Advisors discusses the complexity of considering change with a multi-generational team, the difficulty of walking away from a big brand name, the concept of clients being the real “boss” and how that influenced his choice to build an independent firm—and much more.

Outgrowing the Employee Model: How an ex-Merrill Advisor Found Autonomy & Abundance in Independence
Jerry Davidse discusses his transition from Merrill to building RIA firm Presilium Private Wealth with partner Brook Hart. He shares how they gained the freedom to communicate and create an exceptional experience for their clients, their outstanding portability ratio, uptick of referrals, and more.

Michael Henley CFP® | CPWA® | CRPC® | RMA®
Founder and CEO

Michael Henley is the Founder and CEO of Brandywine Oak Private Wealth, a private wealth management and registered independent advisory firm headquartered in Kennett Square, PA. Over the course of his 20-year career, Michael has been dedicated to helping wealthy individuals and families plan and manage all aspects of their finances and investments. With a passion for helping others look behind the curtain and understand the complex world of finance, he develops close relationships with clients as he helps them progress toward their financial goals. Michael loves to provide clarity and alleviate financial anxiety, help prevent families from overpaying in taxes, and give wealthy families permission to enjoy their life savings. He says, “No work is more gratifying than giving families outcomes to what matters most to them.”

Michael holds the CERTIFIED FINANCIAL PLANNER™, Certified Private Wealth Advisor®, Chartered Retirement Planning Counselor℠, and Retirement Management Advisor® designations. Residing in Chadds Ford, PA, with his two children, he enjoys outdoor activities, particularly maintaining trails on his property, hiking with his dogs, and being an actively engaged dad, always taking his kids everywhere. Michael’s latest hobby is tennis, he is obsessed with hot yoga, and he recently started ice skating to join his daughter Savannah. He can also be found moving logs to the firepit with his son Maverick on the tractor. Michael serves on the board of United Way of Southern Chester County and loves mentoring younger advisors. Great mentors helped him succeed, and he’s convinced that every leader needs to both have mentors and be a mentor.

---

Matthew D. Liebman, CFA®, CRPC®, CAIA®
Founding Partner & Chief Executive Officer | Wealth Advisor

As Founding Partner and CEO, Matt drives the principal mission and core promise of Amplius Wealth Advisors: to put clients at the center of everything Amplius Wealth Advisors does.

Prior to founding Amplius Wealth Advisors, Matt returned home to the Philadelphia area in 2008, where he co-led The Liebman Marks Group at Merrill Lynch for 13 years, consistently receiving firm recognition as a top advisor. Before Merrill Lynch, Matt worked in the investment management industry in New York City in a variety of roles – as a research analyst, portfolio manager, and hedge fund manager. Combined with his education and background in asset allocation theory and behavioral finance, Matt has considerable experience with high-net-worth families and provides a unique approach to guiding clients towards their financial goals.

Matt is a CFA® Charterholder, Chartered Retirement Planning Counselor (CRPC®), and Chartered Alternative Investment Analyst (CAIA®). He was recognized as one of the Top Advisors in Pennsylvania by Forbes as a “Best-in-State Wealth Advisors” ranking in 2020, 2021, and 2023.

Matt earned a BBA from Emory University’s Goizueta School of Business as a dual major in business and political science with concentrations in finance and new venture consulting.

Matt is a Member of the New York Society of Security Analysts, Philadelphia Society of Security Analysts, CFA Institute, and the CAIA Institute. He serves on the boards of the Anti-Defamation League and KleinLife and is an active volunteer in the Philadelphia community.

Matt lives in Haverford, PA, with his wife Allison and two children, Noah & Lucy. He is an avid NBA fan, tennis player, and volunteer basketball coach for his children’s youth teams. Matt is an avid follower of domestic and global politics and enjoys reading business, sports, and political non-fiction books.

---

Jerry Davidse, CFP®
CEO

Jerry Davidse, CFP® has worked closely with leading families across the U.S. as a wealth manager since 2001, advising them on wealth planning, custom investment portfolios and risk management strategies. He believes in clear communication with clients and provides simple recommendations for complex financial decisions. Jerry earned two degrees from the business school at Villanova University in 2001.

Jerry was awarded the CERTIFIED FINANCIAL PLANNER™ certification in 2005 by the Certified Financial Planner Board of Standards, Inc. He was previously a Vice President at Morgan Stanley and Senior Vice President at Merrill Lynch before founding Presilium Private Wealth in 2022. He was recognized by Forbes in 2023 as one of the top wealth advisors in Pennsylvania.

Jerry enjoys traveling, golf, coaching youth sports and has run four marathons. He and his wife live in Radnor, Pennsylvania, with their son, Jake, and daughter, Emma.

Also available on your favorite podcast app and other media sites

Browse other episodes in this podcast series…