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$1.7B Merrill team picks up two advisers

Two advisers left Comerica Bank to join an existing Merrill Lynch team, the firm said.

That team, the Locniskar Group, oversees approximately $1.7 billion, according to a ranking of wealth advisers by Forbes.

Edward Erwin III and Molly Ransom joined the group in Troy, Michigan, according to a Merrill spokeswoman. The group operates within Merrill's elite Private Banking & Investment Group, which serves high-net-worth and ultrahigh-net-worth clients.

Merrill Lynch By Bloomberg News men shaking hands
Two men greet each other outside of the Merrill Lynch & Co. headquarters in New York, Monday, July 24, 2006. HCA Inc., the largest U.S. hospital chain, said it agreed to a $21.3 billion buyout offer from Bain Capital LLC, Kohlberg Kravis Roberts & Co., Merrill Lynch & Co. and HCA co-founder Thomas F. Frist Jr. Westside Regional is owned by HCA. Photogrpaher: Andrew Harrer/Bloomberg News.
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Dana Locniskar, managing director of the group, highlighted Erwin and Ransom's experience as a reason for their joining the team. Locniskar is a veteran of Merrill Lynch, having joined the firm in 1970.

Erwin has more than three decades of experience in financial services, according to Merrill. He's spent the past 22 years at Comerica. He earned his Series 7 and 66 in 2005 and 2016 respectively, according to FINRA BrokerCheck records.

Ransom has been at Comerica for 25 years, according to Merrill. She previously served as a portfolio manager.

A spokesperson for the bank was not available for immediate comment.

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