Based in Los Angeles, Eric Gray and Lance Polverini specialize in ultra-high-net-worth clients.

Kelly Milligan filed a class action complaint in federal court, arguing he lost $500,000 in deferred compensation after leaving the wirehouse several years ago. One attorney estimated more than 1,000 former Merrill advisors have a similar story.

The move will allow CEO and founder Paul Saganey to focus on coaching the firm’s advisors working with higher-net-worth clients.

The five advisors are based in Newton Lower Falls, Mass. and will form Lightship Wealth Strategies.

McCartan, who became CMO at Hightower in July 2022, shared the “bittersweet update” that she had departed the firm, saying she was unsure but excited about her next opportunity.

Co-founder Alan Moore will retain his role as CEO of the Bozeman, Mont.-based billing and payment system for financial advisors.

The team, which has created Thimble Island Private Wealth, joins from Janney Montgomery Scott.

Thomas Hofstetter and Daniel Baron will join the Ohio-based DayMark, a Dynasty Financial Partners member firm managing about $2.5 billion in assets.

Eddy Ray Blizzard pleaded guilty late last year to defrauding an elderly victim of his retirement funds. An FBI Special Agent said Blizzard deserved “every year” in prison.

Ahmad Quqa and his team will create Crescent Private Wealth by aligning with RFG. The move follows several executive hires at RFG earlier this year.