Many successful people attribute their achievements to having a great mentor.
ABOUT Brent and Brad Chappelltheir father was a “childhood hero who became their business mentor.”
Robert Chappell founded his wealth management practice in Merrill in 1984, when being part of the Thundering Herd was like being part of a much larger family.
The brothers remember with pride the impact that Robert and his work at Merrill had on them, so it was no surprise when Brent and Brad joined the firm in 2002 and 2006, respectively.
The Chappells' early experience in Merrill was one of two families blended together. However, this kinship diminished after the sale of the firm to Bank of America, and the team's ability to serve clients and conduct day-to-day business was challenged.
Like many successful wire teams, the Chappells credit the firm with being the foundation of their family business. But they saw the handwriting on the wall and said they owed it to themselves and their clients to explore their options.
In February 2023, Brent, Brad and their team left the firm their father retired from and launched Chappell Wealth Management as one of the largest teams on the Sanctuary Wealth-backed independence platform.
In this episode with Louis Diamond, Brent and Brad talk about their journey and motivations, including:
- Growing up with Merrill – and what changes they witnessed over the years.
- Their unique perspective as the other gender in a family business – and when it became clear that “what got them here wasn't going to get them there.”
- The economics of a move to independence – and how they reconciled being owed money for their father's CTP deal.
- Their process of exploration and transition – and why “education” was one of the most valuable aspects.
- Plus, what it really takes to build a $1 billion+ business.
Hear as they candidly share a unique narrative about a changing world, family dynamics, succession and building a strong business designed to achieve long-term enterprise value.