Industry News
Former $500m Merrill team launches RIA with tru Independence
Payton Guion / Jun 20, 2023
Stephen Ruvituso will lead a team of six at Sykon Capital.
Five former Merrill Lynch staffers have broken away to start an independent RIA called Sykon Capital, which is based in Harrison, N.Y.
Sykon has partnered with tru Independence, a Philadelphia-based RIA service provider, to get the firm up and running. According to tru Independence, Sykon is managing $500m in assets.
Leading Sykon is chief executive Stephen Ruvituso, along with president and chief information officer Todd Stankiewicz, chief operating officer Joseph Castiglie III, managing partner of client engagement Julie Ackerman, and Shawn Teufel, vice president of sports and entertainment. Those five were most recently with Merrill, while Stacey Sizemore, a tru Independence employee, will be the firm’s chief compliance officer.
Ruvituso said that launching Sykon will allow his team to get away from a wirehouse culture that can limit creativity and innovation.
‘The services that tru provides will enable us to not only serve our clients to the highest standard but also to grow alongside’...
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