Q&A: OpenArc Lead Says the Merrill Breakaway Plans to Hire, Acquire

Core Insights - OpenArc Corporate Advisory has launched as a registered investment advisor (RIA) with plans for national growth from its headquarters in Atlanta [1] - The firm was established by former Merrill Lynch advisors who transitioned from Merrill's Global Corporate and Institutional Advisory Services unit [3] - OpenArc has initiated a charitable foundation, donating $100,000 to St. Jude Children's Research Hospital, and plans to contribute a portion of profits to underserved communities [5] Company Overview - OpenArc launched in September on the Dynasty Financial Network platform, with Dynasty as a minority investor and Charles Schwab as its custodian [2] - The firm aims to provide tailored fiduciary advice to both corporate and family wealth clients, emphasizing a client-first approach [7] Legal Context - Merrill Lynch has filed a lawsuit against OpenArc, alleging breaches of the Protocol for Broker Recruiting regarding client information and communication [3] - A federal court denied Merrill's request for a temporary restraining order, and the case will proceed to arbitration with FINRA [4]