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Deals & People July 31, 2014
Former Merrill Lynch Exec Joins Focus Financial Board
Focus Financial Partners, LLC announced that Dan Sontag, former president of Merrill Lynch’s global wealth management unit, has joined the Focus wealth management network’s board of directors.
Reported by Matthew Miselis
The addition of Sontag brings the total number of directors to seven, according to Focus. Of the seven board members, six are independent and not affiliated with Focus. The firm says it hopes to leverage Sontag’s business acumen and knowledge of the wirehouse community “as more of the top wealth managers seek opportunities within the independent space.”
Specifically, Sontag will work to support the Focus Connections program, which helps independent advisers plan and execute practice growth. “This is the most exciting time to offer strategic guidance in the wealth management industry, as the industry evolves and independent wealth management firms continue to gain market share,” Sontag adds.
The Focus Connections program also provides transition support to wealth management teams and individual advisers as they leave wirehouses and other providers to create their own independent registered investment adviser (RIA) firms.
Sontag’s most recent role at Merrill Lynch was head of global wealth management, where he was responsible for Merrill’s wealth management and advisory activities around the globe. Additionally, he had direct oversight of all investment platforms, technology and operations support for the nearly 20,000 advisers in Merrill’s wealth management offices, private bank and international wealth businesses.
More information on Focus Financial Partners is available here.