Ex-Merrill Wealth Chief Launches RIA

Other former Merrill executives starting Indivisible with Thiel are John Hogarty, Paul Lambert, Bill Lorenz, Tom Fickinger, Michael Adornetto, Alok Kapoor and Stephen Hostetler. They are joined by Peter Cieszko and Tom Corra, both of whom have worked as executives in the asset management industry.

Thiel stepped down as head of wealth management at Merrill in late 2016, after five years in the position, and was replaced by Andy Sieg. He then served as vice chairman of Global Wealth Management & Investment Management at Bank of America for a year.

Thiel cut his teeth with the wirehouse as an advisor starting in 1998 and then began rising up the ranks as a complex manager and later as an executive for its Private Banking and Investment Group.

News of Thiel's plans comes about seven years after Greg Fleming, the former Merrill and Morgan Stanley executive, was hired to help turn the Rockefellers' family office into the wealth firm Rockefeller Capital Management.

(Credit: MyNextSeason)