A $2.2-billion team of breakaway wirehouse brokers is planning their own mutual fund.

Andrew Mies 6 Meridian Partner, Chief Investment Officer

The advisors of a newly-formed, Wichita, Kansas-based RIA, 6 Meridian, plan to launch their own mutual fund next year, Lisa Shidler of RIABiz reports. The 6 Meridian team, led by CEO Margaret Dechant and formerly called the Kirk, Bahm Group at Morgan Stanley, left the wirehouse earlier this month to create 6 Meridian.

6 Meridian chief investment officer, Andrew Mies told InvestmentNews that the team would not have been able to create their own mutual fund while at Morgan Stanley. The team laid out their breakaway logic via a welcome letter to clients. The Wichita Eagle also covered the creation of 6 Meridian.

6 Meridian is using BNY Mellon's Pershing Advisor Solutions as custodian and Louisville, Kentucky-based PCS (Private Client Services) as broker-dealer. In Addition to Dechant and Mies, the other 6 Meridian founding partners include: Steve Bahm, Bryan Green, Sarah Hampton, Tom Kirk, and Pam Smith.

The new RIA's namesake is the Sixth Principal Meridian, which dates back to 1855 and runs through Wichita. 

Edited by: Neil Anderson, Managing Editor


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