OpenArc Corporate Advisory Launches to Reshape Corporate Benefits and Family Wealth Advisory with $129bn in Assets

OpenArc Corporate Advisory, founded by Barron's top-ranked teams, has launched as a national advisory firm. The company integrates corporate benefits, executive services, and private wealth management through a high-touch, open architecture platform. OpenArc aims to provide better alignment between benefits and wealth solutions for employers and their employees. The firm is backed by Dynasty Financial Partners and combines its model with Charles Schwab's capabilities and Dynasty's tech platform.

OpenArc Corporate Advisory, founded by Barron's top-ranked teams, has launched as a national advisory firm, integrating corporate benefits, executive services, and private wealth management through a high-touch, open architecture platform. The company aims to provide better alignment between benefits and wealth solutions for employers and their employees. OpenArc is backed by Dynasty Financial Partners and combines its model with Charles Schwab's capabilities and Dynasty's tech platform Merrill Lynch Sues $129 Billion Advisor Team, Charles Schwab, and Dynasty Over ‘Corporate Raid’^[1].

OpenArc's launch comes amidst ongoing legal disputes involving its parent company, Merrill Lynch. Merrill Lynch has filed a lawsuit against Charles Schwab, Dynasty Financial Partners, and a group of former Merrill Lynch financial advisors who oversaw $129 billion in assets. The lawsuit alleges that the defendants engaged in a "pre-meditated corporate raid" and that they collaborated to divert business from Merrill Lynch to OpenArc. Merrill Lynch accuses the defendants of violating employment contracts, misappropriation of trade secrets, tortious interference with Merrill’s business and employees, and other alleged misconduct Merrill Lynch Sues $129 Billion Advisor Team, Charles Schwab, and Dynasty Over ‘Corporate Raid’^[1].

Despite the legal challenges, OpenArc has positioned itself as a leader in the advisory services industry. The company's platform offers a comprehensive suite of services, including retirement benefit plans, equity compensation services, and institutional consulting. OpenArc's high-touch approach and open architecture platform are designed to provide clients with a seamless and efficient experience Merrill Lynch Sues $129 Billion Advisor Team, Charles Schwab, and Dynasty Over ‘Corporate Raid’^[1].

OpenArc's strategic partnership with Dynasty Financial Partners and Charles Schwab is expected to provide significant advantages in terms of technology, investment management, and client service. Dynasty Financial Partners, a St. Petersburg, Fla.-based firm, specializes in helping financial advisor teams leave national brokerage firms to open their own registered investment advisory firms. Dynasty also provides asset management services to a network of RIAs Merrill Lynch Sues $129 Billion Advisor Team, Charles Schwab, and Dynasty Over ‘Corporate Raid’^[1].

The launch of OpenArc comes as part of a broader trend in the financial services industry, known as the "breakaway movement." This movement involves financial advisors leaving large national brokerage firms to start their own independent advisory firms. OpenArc's team of advisors is likely the largest breakaway team as measured by assets Merrill Lynch Sues $129 Billion Advisor Team, Charles Schwab, and Dynasty Over ‘Corporate Raid’^[1].

Investors and financial professionals should closely monitor the legal developments surrounding OpenArc and Merrill Lynch. The outcome of the lawsuit could have significant implications for the advisory services industry and the broader financial services sector. Despite the legal challenges, OpenArc's innovative approach and strategic partnerships position it as a strong contender in the competitive advisory services market.