Rockefeller Global Family Office Acquires Merrill Lynch Team in Pennsylvania

Rockefeller Global Family Office has successfully recruited a 16-person team from Merrill Lynch that had generated approximately $11 million in annual revenue. The team is based in the affluent Philadelphia suburb of Newtown, Pennsylvania.

The team is spearheaded by Christopher A. DiMedio, who spent 24 years at Merrill Lynch and managed $2 billion in client assets. DiMedio is joined by seven advisors: Jonathan R. Battillo, Anthony Farrandino, Sean R. Moreland, Sean B. Arnold, Percy L. Mason, Patrick T. Sweet, and Kyle D. Comerford.

In addition to the advisors, eight staff members are transitioning to Rockefeller, including Patrick Unrath, Dawn Wyatt, Michael Freidman, Mary Bost, Scott Greene, Cameron Zubey, Madison Scott, and Ryan Staropoli.

DiMedio’s team now reports to Michael Parker, the regional managing director for Rockefeller’s Northern and New York Metro division, and Michael Outlaw, who also manages the New York Metro division and oversees recruiting and growth strategies.

Rockefeller aims to recruit additional teams in Newtown, expecting to onboard two or three more in the near future. The firm is reportedly advocating for its growth potential by highlighting the success of early adopters who have significantly increased their revenue.

“Bucks County is one of the fastest growing wealth centers in Pennsylvania, making it a highly sought-after market,” Michael Outlaw said in a statement.

While at Merrill Lynch, DiMedio’s team was co-led by Stephen Pollard, a 21-year industry veteran. Pollard, whose father is a retired Merrill veteran, remains with Merrill Lynch. Attempts to reach Pollard for comment were unsuccessful, and the company’s spokesperson declined to comment on the developments.

Each team member comes with a varied history at Merrill Lynch and other firms, including RBC, J.P. Morgan, and LPL. Despite this loss, Merrill executives maintain that their attrition rate has been declining and continues to pursue growth through veteran broker recruiting.

Rockefeller has been actively expanding since its push into retail wealth management in 2018, under the leadership of former Morgan Stanley wealth head Greg Fleming. The firm now manages approximately $149 billion in assets across more than 150 teams, with plans to increase their roster to 225-250 teams before reducing the pace of recruitment.