Two Merrill Lynch teams who had generated $5 million in combined revenue have left to sign with independent broker-dealer Kestra Financial in North Carolina and Stifel Financial in Texas.

In the larger of the moves, the Buckminster Palmer Group, which a source said had been generating $3 million in annual revenue, signed with Kestra Private Wealth Services in Huntersville, North Carolina on March 16. Dee N. Buckminster and Austin L. Palmer had overseen $550 million in assets, according to a person familiar with their practice.

Buckminster, who ranked #23 on Forbes’ list of best-in-state women advisors this year, had individually managed $344 million in assets, according to Forbes. She started her career at Morgan Stanley in 2000 and moved to Merrill in 2006, according to BrokerCheck.

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