Merger Creates New Merrill Lynch Private Banking and Investment Team


Merrill Lynch has announced the creation of the Locniskar Pursel Bucher Biddinger Group, formed from the merger of two private wealth advisor groups, the Locniskar Group and Pursel Bucher Group. The new team is based in Troy.

“This merger forms a multi-generational powerhouse team,” says David Jennings, Merrill Lynch market executive for southeast Michigan/ northwest Ohio. “The combined, significant investment expertise of these advisors will serve families and businesses for decades to come.”

Joining Merrill Lynch in 1970, Dana Locniskar built an investment group with experience in wealth management for high-net individuals, families, and foundations. He focuses on wealth management, concentrated stock strategies and philanthropic planning, trust, and estate services.

“We are thrilled to join forces,” says Locniskar. “We all share a single-minded emphasis on providing clients with outstanding service, and the merger only builds on our ability to help families reach their investment goals.”

Thomas Pursel joined Merrill Lynch in 1983 and works with affluent individuals, families, and corporations with $10 million or more in investable assets. Pursel Bucher was one of the first teams at Merrill Lynch to be named to its private banking and investment group, a division that serves the specialized needs of highly affluent clients.

“Our complementary expertise, specialization and common focus on client service make this a wonderful fit,” says Pursel. “The new team reflects the multi-generational make up of our clients, and that is significant in meeting clients’ long-term wealth management objectives.”