A Merrill Lynch advisor with $120 million in client assets has left the wirehouse to go independent with Washington Wealth Management, the firm says.

Chuck Hilliard, founder and managing director of Freedom Pointe Wealth Advisors, opened the new practice with the San Diego-based Washington Wealth, an independent hybrid RIA that supports both fee- and commission-based independent advisors, according to the firm.

Washington Wealth, in association with NFP Advisor Services, provides advisors opening an independent practice a plan for transition, infrastructure and daily support with compliance services and an integrated technology platform, the firm says.

“The aspirations for my career and practice are twofold. I want to be an entrepreneurial, independent financial advisor, and I want to build a multi-generational firm with my three daughters," Hilliard says. "Launching my independent practice through the Washington Wealth Management platform means I can enjoy the freedom to succeed under my own brand.”

Hilliard started his career with Merrill Lynch in 1997 before moving to H&R Block in 2002, Morgan Stanley in 2006 and later re-joining Merrill in 2007 at Banc of America Investment Services in Newport Beach, Calif., according to FINRA's BrokerCheck.

In a similar move, three wirehouse advisors with $290 million in combined AUM recently opened their own independent practices with Washington Wealth Management.

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