Ex-Merrill wealth advisers form Grey Owl Capital Management
Two former Merrill Lynch advisers are launching a new investment management business.
Two former Merrill Lynch advisers are launching a new investment management business.
Eric Brugel and Jeff Erber, who most recently served as private wealth advisers with Merrill Lynch’s Private Banking and Investment Group, have formed Grey Owl Capital Management LLC, a Falls Church, Va.-high-net-worth specialist with $160 million in client assets.
“All of the resources of the large Wall Street firms are designed to sell the firm’s products in a broadly diversified way,” said managing director Mr. Erber, who added that the partners left Merrill because they wanted to spend more time making investment decisions for clients.
A spokeswoman for Merrill Lynch was not immediately available for comment on their departures.
Mr. Erber worked at Merrill Lynch for five years and worked in marketing and management consulting. Mr. Brugel was at Merrill for nine years. Both were based in Merrill’s Tysons Corner, Va., branch.
While at Merrill, the two developed a model portfolio for a separately managed account called the “Opportunity Strategy” that they plan to offer in their new business.
It’s a model portfolio that has 15 to 25 positions in various domestic and international securities across all asset classes.
The holdings include stocks, mutual funds, sector exchange traded funds and fixed-income instruments.
The strategy is designed for clients with a minimum of $250,000 initial investment and a three- to five-year minimum investment horizon.
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