Veteran Merrill Lynch advisor J. Kevin Stophel has moved on after 13 years with the firm to establish his own wealth practice partnered with Concert Advisor Services and Concert Wealth Management Inc.

Stophel previously had $80 million in client assets under management and $500,000 in annual fees and commissions at Merrill Lynch.

Stophel's new practice, KumQuat LLC, will use middle office support from Concert Advisor Services and advisory services from Concert Wealth Management Inc., according to an announcement from Concert. Stophel will continue to be based in Chattanooga, Tenn.

Stophel most recently served as vice president at Merrill Lynch Investment Managers. He had been registered with Merrill Lynch since May 1999, according to his public registration records with the Financial Industry Regulatory Authority, and had also served as a trainer for new brokers and a branch manager.

Concert has been on a national hiring spree, having added a $100 million advisor team in Scottsdale, Ariz., in July, a Morgan Stanley Smith Barney advisor in El Segundo, Calif., in June, and a Merrill Lynch advisor in Oak Brook, Ill., in May.