A trio of former Merrill Lynch financial advisors have launched their own firm in Houston.
Royal Harbor Partners is led by partners Glenn Royal, Michele Jones and Natalie Picha, according to a press release from the firm.
Picha began her career in the industry in 2004 and joined Merrill Lynch in 2013, according to her BrokerCheck profile.
All three left Merrill Lynch in June, according to BrokerCheck. The team manages around $165 million, according to ThinkAdvisor.
"We founded Royal Harbor Partners because of our ongoing dedication to our clients and the Houston community,” Picha says in the press release. “Every partner has deep roots in Houston, and our moral compass pointed us to a business model that will best allow us to do right by our community and our clients.
Merrill Lynch advisors have been jumping ship in 2019. After shedding 189 advisors in the first half of the year, the wirehouse has since lost several more advisors to UBS, Wells Fargo, JPMorgan, First Republic Bank and Steward Partners Global Advisory, the employee-owned independent partnership associated with Raymond James Financial Services.