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RIA

Indivisible Partners

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Indivisible Partners at a glance

Researched Oct 2026

Indivisible Partners is an independent RIA founded by John Thiel, the former head of Merrill Lynch Wealth Management, with a group of ex-Merrill executives; it was announced in November 2024 and went live in January 2025. It pitches itself to top advisor teams and independent RIAs, letting advisors own their practices outright while sharing in equity of the broader firm, and it had added five teams by December 2025, according to AdvisorHub.

Regulatory AUM (Form ADV)
$421 million (before several later team additions)4
As of Jun 2025
Advisor teams
54
As of Dec 2025
Headquarters
Clearwater, Fla.1
Founded
Announced November 2024; launched January 20252
Ownership
Private; wholly owned by holding company Forabya LLC, controlled by founder and executive chairman John Thiel and fellow executives1
Leadership
John Thiel (founder, executive chairman), formerly head of Merrill Lynch Wealth Management2

How advisors affiliate

  • Partner / equity ownerAdvisor teams keep 100% ownership of their own practice and can also take an equity stake in the Indivisible partnership, with family office services, technology and operations supplied by the firm.3
  • Breakaway team affiliationIts early recruits were wirehouse and regional-firm teams, such as Woodring | LeRoy Capital Advisors from Merrill (about $640 million) and a Dallas team from Stifel, joining under their own brand names.3

How advisors are paid

No firm-specific figures have been published that we could verify.

Joining: deals and equity

  • Indivisible's first team, New York-based Woodring | LeRoy Capital Advisors with about $640 million in client assets, joined from Merrill at launch in January 2025 (WealthManagement.com).3
  • AdvisorHub reported in December 2025 that KH Private Wealth, a Dallas team from Stifel, was Indivisible's fifth team, per its Form ADV.4

Figures are as reported by the sources below and change over time. Payout and deal figures are general ranges, not offers.

  1. Former Merrill Wealth Head Launching New RIA Indivisible Partners Dakota (fundraising news), Nov 2024
  2. Ex-Merrill Wealth Chief Launches RIA ThinkAdvisor, Nov 2024
  3. John Thiel's New RIA Adds First Advisor Team WealthManagement.com, Jan 2025
  4. Ex-Merrill Leaders' RIA Adds $882-Mln Stifel Team in Dallas AdvisorHub, Dec 2025

From the Newsroom

Indivisible Partners on the wire

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Indivisible Partners: questions

What kind of firm is Indivisible Partners?

Indivisible Partners is an independent RIA founded by John Thiel, the former head of Merrill Lynch Wealth Management, with a group of ex-Merrill executives; it was announced in November 2024 and went live in January 2025. It pitches itself to top advisor teams and independent RIAs, letting advisors own their practices outright while sharing in equity of the broader firm, and it had added five teams by December 2025, according to AdvisorHub.

How big is Indivisible Partners?

Regulatory AUM (Form ADV): $421 million (before several later team additions) as of June 2025, according to AdvisorHub. Advisor teams: 5 as of December 2025, according to AdvisorHub.

How can an advisor affiliate with Indivisible Partners?

Indivisible Partners offers partner / equity owner and breakaway team affiliation. Advisor teams keep 100% ownership of their own practice and can also take an equity stake in the Indivisible partnership, with family office services, technology and operations supplied by the firm. Its early recruits were wirehouse and regional-firm teams, such as Woodring | LeRoy Capital Advisors from Merrill (about $640 million) and a Dallas team from Stifel, joining under their own brand names.

How do advisors and firms join Indivisible Partners?

Indivisible's first team, New York-based Woodring | LeRoy Capital Advisors with about $640 million in client assets, joined from Merrill at launch in January 2025 (WealthManagement.com). AdvisorHub reported in December 2025 that KH Private Wealth, a Dallas team from Stifel, was Indivisible's fifth team, per its Form ADV. Terms vary by firm and change over time.

What is the latest news about Indivisible Partners?

Financial ADVSR’s latest reporting on the firm is “Advisor moves, week of Oct 12–18, 2026: 18 moves, led by $3.5B Houston team” (October 19).

Have advisors recently joined or left Indivisible Partners?

In the last 90 days the Financial ADVSR moves tracker has recorded 1 move to Indivisible Partners, most recently Baltimore-area team ($1.1B) from RBC Wealth Management (October 12).