Four advisors from the Birmingham, Ala., firm Jackson Wealth Group, a Merrill Lynch Wealth Management team, have jumped ship to form Steadmont Advisors, according to rececnt SEC filings.
Steadmont Advisors, in Vestavia, Ala., which was approved by the SEC last week, consists of Taylor Hart, partner and president; Mimi Dunn, partner and client advisor; Amy Drinkard, partner; and Tyler Decker, senior associate and client advisor.
Jackson Wealth was named to the Forbes Best-In-State list earlier this month, and was reported to have $437 million in assets under management.
How many of those clients follow the new Steadmont team remains to be seen, as the firm’s Form ADV was approved by the SEC under its 120-day rule, which implies the firm expects to be able to report at least $100 million in AUM within four months but lists no current assets.
According to the Form ADV, the firm will offer financial planning and portfolio management for individuals and/or small businesses, and will be compensated through a percentage of assets under management, flat fees or an hourly rate, depending on the service.
Steadmont has joined Dynasty Financial Partners for operational and back-office support, according to the firm’s brochure,
Hart did not return a call for comment by press time.
The one remaining advisor at Jackson Wealth, Tommy E. Jackson, managing director and senior relationship manager, could not be reached for comment.