By Corrie Driebusch 
 

Merrill Lynch adviser Jeffrey M. Fratarcangeli has established an independent financial advisory practice affiliated with Wells Fargo Advisors Financial Network.

Wells Fargo Advisors Financial Network is the independent brokerage arm of Wells Fargo Advisors.

Mr. Fratarcangeli previously managed more than $424 million in client assets, according to his new firm. His independent practice is located in Birmingham, Mich., with offices in New York and Florida.

Mr. Fratarcangeli spent the past five-plus years at Merrill before going independent Monday, according to Financial Industry Regulatory Authority records. Prior to joining Merrill in 2008 he worked for Citigroup Inc., Finra records show.

A spokeswoman for Merrill Lynch confirmed Mr. Fratarcangeli's departure but declined to comment further.

In 2013 and 2014 Mr. Fratarcangeli was named the No. 17 adviser in Michigan, according to Barron's list of top financial advisers by state.

(Street Moves chronicles the migration of executives on Wall Street, with a particular emphasis on financial advisers with more than $1 million in annual production and those who manage more than $100 million in client assets.)

-Write to Corrie Driebusch at corrie.driebusch@wsj.com

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