A Merrill Lynch trio that oversaw $150 million in client assets has left to form a larger $350 million team at Janney Montgomery Scott, according to the company.

Noah Doyle, Charles Princiotto and Sean Martin are leaving the wirehouse to partner with Stanley Hochhauser and Alice Coraggio in Janney's New York office.

The move has been in discussion "for years" and was inspired by the opportunity to combine forces with five-decade industry veteran Hochhauser, Doyle tells On Wall Street.

Doyle, 36, says he's known Hochhauser for some time (they live in the same Manhattan neighborhood). He has respected Hochhauser's skills as a wealth manager, and looks forward to the mentorship he could provide.

"That could only be had by merging our practices,"Doyle says.

By combing forces, they'll be better able to serve intergenerational wealth, take advantage of opportunities to grow and provide a clear succession plan, he says.

Hochhauser pointed to the benefits of having a clear succession plan in place, citing retirement as "a future reality."

"Noah and his team bring a refreshed approach to our core values of developing deep client relationships and providing comprehensive financial planning. After meeting with them, it was clear I had found the right partners," he said in a statement.


Hochhauser got his start in the business at Shearson Hammill in 1965, according to FINRA BrokerCheck records. Coraggio has worked with Hochhauser since 1979, the firm says.

Doyle had worked at Merrill Lynch since 2001, according to BrokerCheck. He previously worked at Morgan Stanley and Smith Barney.

Princiotto and Martin started working at Merrill in 2011 and 2015, per BrokerCheck.

A spokeswoman for Merrill Lynch could not be reached for immediate comment.

Doyle says his practice is primarily focused on professional athletes and entertainers as well as not-for-profit institutions. The combined team will be known as Battery Park Financial Partners.

The move to Janney also reunites Doyle with his former Smith Barney branch manager, Michael Drumm.

"It was really about people more than anyone else," Doyle says of the transition.

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