A top millennial advisor and his team with $930 million in client assets have left Merrill Lynch to form Wyeth Private Wealth.

Michael Henley, 34, based in the Wilmington, Del., region, is partnering with Dynasty Financial Partners to launch the new independent firm. He will be chief executive officer and a private wealth advisor of Wyeth. Henley was a senior vice president and wealth management advisor at Merrill Lynch for 10 years.

Also joining Wyeth are seven other professionals, most of whom are in their early or mid-30s, from Merrill Lynch:

· Alison Brooks, co-founder and chief operating officer, private wealth advisor.

· Steve Maconi, founding partner and chairman, private wealth manager.

· Tracy McGuire, founding partner, private wealth manager.

· Mark Jackson, founding partner, private wealth advisor.

. Brittany Kalsky, chief compliance officer, private wealth relationship manager.

· Erin Yake, senior private wealth associate.

· David Clark, private wealth associate.

Henley and his team have extensive experience in retirement income planning, investment management, estate planning and tax strategies. In particular, Maconi has worked with DuPont retirees for more than 35 years.

Wyeth Private Wealth works closely with high-net-worth individuals and families helping them plan and manage all aspects of their finances and their investments. The firm believes that the key role of a comprehensive wealth advisor is to provide education around how to maximize charitable and family gifting while minimizing the impact of federal and local taxes. “One of the largest expenses that a wealthy family incurs over their lifetime is state and federal income taxes. We feel tax planning is not only critical but also a key differentiator,” Henley said in a press release.

“The core of our practice is built around low-cost, evidence-based investment portfolios, sophisticated tax planning, retirement cash flow planning, and optimizing family and charitable gifting,” he added. “By partnering with Dynasty Financial Partners, we are able to upgrade, improve or enhance all services that we provide to wealthy families. … Transitioning to independence will allow us to take our fiduciary commitment to our clients to the next level.”

“Wyeth Private Wealth represents everything that is great about the future of the independent wealth management industry. They are a young team of exceptional advisors who place all of their priorities on serving their clients’ needs and are complete believers in the fiduciary based advisory model,” said Dynasty Financial Partners President and CEO Shirl Penney in the release.

Henley and his team are passionate about their Brandywine valley community and chose the name “Wyeth” to reflect the historical heritage of the area. Wyeth Private Wealth will be headquartered in Chadds Ford, Pa. For more information, please visit website www.wyethpw.com.