# Indivisible Partners at a glance

URL: https://www.financialadvsr.com/firms/indivisible
Researched: 2026-10-10
Publisher: Financial ADVSR (https://www.financialadvsr.com)

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.

## Facts

- Headquarters: Clearwater, Fla. [1]
- Founded: Announced November 2024; launched January 2025 [2]
- Ownership: Private; wholly owned by holding company Forabya LLC, controlled by founder and executive chairman John Thiel and fellow executives [1]
- Leadership: John Thiel (founder, executive chairman), formerly head of Merrill Lynch Wealth Management [2]

## Size

- Regulatory AUM (Form ADV): $421 million (before several later team additions) (as of 2025-06-30) [4]
- Advisor teams: 5 (as of 2025-12-12) [4]

## How advisors affiliate

- Partner / equity owner: 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. [3]
- Breakaway team affiliation: 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. [3]

## 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]

Sources:
1. Dakota (fundraising news): Former Merrill Wealth Head Launching New RIA Indivisible Partners, 2024-11-05 (https://www.dakota.com/fundraising-news/former-merrill-wealth-head-launching-new-ria-indivisible-partners)
2. ThinkAdvisor: Ex-Merrill Wealth Chief Launches RIA, 2024-11-05 (https://thinkadvisor.com/2024/11/05/ex-merrill-wealth-chief-launches-ria)
3. WealthManagement.com: John Thiel's New RIA Adds First Advisor Team, 2025-01-08 (https://www.wealthmanagement.com/ria-news/john-thiel-s-new-ria-adds-first-advisor-team)
4. AdvisorHub: Ex-Merrill Leaders' RIA Adds $882-Mln Stifel Team in Dallas, 2025-12-12 (https://www.advisorhub.com/ex-merrill-leaders-ria-adds-882-mln-stifel-team-in-dallas/)