A Washington, D.C.-based trio of Merrill Lynch advisors who managed nearly $1 billion in assets has left to join Cetera Advisor Networks, according to a Cetera news release.

Dean Packard, Scott Lowder and Vytas Maginnis are founding partners and advisors of Harvest Wealth, an independent wealth management firm, which specializes in serving corporate executives and their families, the release noted.

Packard, according to BrokerCheck, entered the industry in 1985 with A.G. Edwards and Sons. He moved to Citigroup Global Markets Inc. in 1991 before joining Merrill Lynch in 2006. Lowder began his career with Citigroup in 1998 and joined Merrill Lynch in 2006. Maginnis began his career with Citigroup, where he worked for a few months in an administrative role before joining Merrill later that year.

“As the financial services industry has evolved, we have witnessed a gradual misalignment of interests where in many cases, client needs are not always coming first,” Packard said in a statement. “By forming Harvest Wealth and affiliating with Cetera Advisor Networks, we are empowered to prioritize client needs above all else, elevating client interests as our top priority. Converting our practice to an independent model ensures that we can serve our clients in the best manner possible without restrictions or limitations on the solutions, strategies and guidance we provide to pursue success for our clients.".

Adam Antoniades, Cetera's CEO, said that financial professionals more than ever are seeking a professional home that will support their growth aspirations and provide them the flexibility and autonomy to operate independently to best serve their clients. “Harvest Wealth has found that unique and empowering balance at Cetera, and our shared vision and values will lead to better financial advice and outcomes for countless individuals and families,” he said.

Founded in 2010, Cetera Financial Group serves affiliates making up the second-largest family of independent broker-dealers in the nation. As of December 31, 2021, the company reported overseeing about $353 billion in assets under administration and $122 billion in assets under management.