NEW YORK, Nov 25 (Reuters) - HighTower Advisors, anindependent, adviser-owned firm that has grown by hiring fromtop U.S. brokerages, said on Monday that a Merrill Lynch adviser and her team have partnered with the firm.
Laurie Kamhi and her team, including analyst ChristineTorrey and private wealth associate Karman Tong, have joinedHighTower's New York headquarters from Merrill Lynch PrivateBanking and Investment Group, where they managed $320 million inclient assets.
The team, known as LCK Wealth Management, joined HighTowerlast Friday. A representative for HighTower declined to commenton the team's annual revenue production while at Merrill.
A Merrill Lynch spokeswoman confirmed the departures butdeclined further comment.
Kamhi told Reuters that she was in the process of meetingwith her clients to ask them to join her at HighTower and hasreceived "very positive feedback."
Kamhi, who worked at Merrill for more than 20 years according to a regulatory filing, also said that she and herteam will consider how best to expand their business once theyhave settled at HighTower.
"They're leaving a conflicted world of Wall Street thatlacks transparency," said Mike Papedis, executive vice presidentat HighTower. "They want to be on the right side of the tracksin serving sophisticated clients," he said.
The Kahmi-led partnership is the third to join HighTower inthe past three weeks. A team led by former Merrill Lynch WealthManagement adviser Charles Andriole joined on Nov. 15, while ateam led by former UBS Wealth Management Americas adviser Peter Klein joined on Nov. 8.
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