You’ve probably seen the name popping up if you’ve spent any time looking into the heavy hitters of Miami’s wealth management scene. Patrick Dwyer Merrill Lynch is a phrase that, for decades, was basically synonymous with ultra-high-net-worth advisory in South Florida. But honestly, if you’re looking for him at Mother Merrill today, you’re looking in the rearview mirror.
He isn't there anymore.
Dwyer spent 26 years at Merrill Lynch. That’s a lifetime in the "what have you done for me lately" world of finance. He didn't just survive there; he built one of the most productive machines the firm had ever seen. We’re talking about an 11-member team—Dwyer & Associates—that eventually managed a staggering $3.8 billion in assets. To put that in perspective, that’s more than some small regional banks handle, all managed by one team in a Miami office.
The Rise of Dwyer & Associates
Dwyer's story at Merrill started back in 1993. He came out of the University of Miami with an MBA and jumped straight into the Merrill Lynch MBA Analyst Program in New York. Most people flame out in those early years. The pressure is immense. But Dwyer moved back to Miami and, by 1999, became a founding member of Merrill’s Private Banking and Investment Group (PBIG).
This wasn't your local branch office where people go to open a checking account. PBIG was the "velvet rope" division. It was designed specifically for families who don't just have money, but have generational wealth—the kind of clients with $20 million or $50 million in liquidity.
Success came fast. He was a regular on the Barron’s Top 100 Financial Advisors list, often ranking as the #1 advisor in Florida. Forbes eventually put him at #5 in the entire country. You don't get those numbers by just being good at golf. You get them by being obsessive. Dwyer has famously talked about his 5 a.m. start time, hitting the financial news before most of his clients have even hit the snooze button.
What Really Happened With the Merrill Departure?
Around 2019, the ties finally cut. After over a quarter-century, Dwyer left Merrill Lynch. It was a massive shift. In the world of "wirehouse" firms (the big guys like Merrill, Morgan Stanley, and UBS), seeing a $3 billion producer leave is like a franchise losing their Hall of Fame quarterback.
He didn't just retire to Key Biscayne, though. He moved into the independent and boutique space. He had a stint at Boston Private as the Head of Strategic Business Development and eventually landed as a Managing Director at NewEdge Wealth.
Why does this matter to you?
It signals a broader trend. High-end advisors are leaving the "big bank" ecosystem because they want more flexibility. At a place like Merrill, you’re part of a massive corporate machine. At a boutique firm, you can often offer more "outside-the-box" investment strategies—things like private equity and niche private credit that aren't always easy to clear through a giant bank's compliance department.
Patrick Dwyer Merrill Lynch: The Legacy and the "Clean" Record
One thing that people often search for when they look up Patrick Dwyer Merrill Lynch is his regulatory history. In 2017, Dwyer actually won a significant legal victory in an arbitration case. He successfully sought "expungement" to clear several customer complaints from his record.
The arbitrators basically ruled that the complaints were "factually impossible or clearly erroneous." In the financial world, having a "clean" FINRA record is everything. The fact that he fought to have those cleared tells you a lot about how he manages his professional reputation. He wasn't going to let old, disputed claims sit there and gather dust.
Life After the Big Bullseye
These days, Dwyer is still based in Miami, but his focus has broadened. He’s heavily involved in the Dwyer Family Foundation, which focuses on education and children with learning disabilities. He’s also a big part of the Neuroscience Centers of Florida Foundation.
If you're tracking his career in 2026, he’s become more of a strategic leader than just a guy picking stocks. At NewEdge Wealth, he’s driving growth and looking at how to integrate technology into the wealth experience—something that was probably a lot harder to do back in the 90s at a traditional firm.
👉 See also: Mellody Hobson and Ariel Investments: What Most People Get Wrong
Actionable Insights for Investors
If you’re looking at Dwyer’s career to figure out your own financial path, here are the real takeaways:
- The "Big Bank" vs. Boutique Choice: Don't assume a big name like Merrill Lynch is always the best fit. Sometimes the best talent, like Dwyer, migrates to independent firms for better flexibility.
- Track Record Matters: Look for advisors who have survived multiple market cycles (1999, 2008, 2020). Experience isn't just a number; it's the ability to not panic when the S&P 500 is down 20%.
- Check the FINRA BrokerCheck: Always look up an advisor. But remember—as seen in Dwyer’s 2017 case—sometimes complaints are part of the "cost of doing business" at a high level and may be successfully disputed.
- Focus on the "Family Office" Model: If you have significant assets, look for teams that offer more than just investment advice. You need tax strategy, philanthropic planning (like the Dwyer Family Foundation), and estate coordination.
Next Steps:
To verify an advisor's current standing, visit the FINRA BrokerCheck website and search by name. If you're looking for specialized wealth management in Florida, research the differences between "Wirehouse" advisors (like those at Merrill Lynch) and "Registered Investment Advisors" (RIAs) to see which fee structure and level of independence aligns with your goals.