Indivisible Adds $800M California RIA Through Succession Deal

Indivisible Partners, an RIA launched in early 2025 by a group of former Merrill Lynch executives, added a California firm managing $800 million in assets, according to an announcement on Wednesday.
Westlake Village-based FMB Wealth Management’s advisors joined Indivisible in May, according to registration records. The firm, which also had a separately registered entity serving retirement plans, will continue to operate under the FMB brand.
The move follows an internal succession plan in which Debra A. Fields, who co-founded FMB in 1994, transferred majority ownership to her son, Jeremy J. Fields, along with Grant E. Blindbury and Daniel L. Mock.
“This transition to the next generation is a testament to the firm’s origins,” Blindbury said in a statement. “This is an opportunity to not only carry on the Fields’ legacy, but to share the story of its roots, and continue the significant growth we’ve achieved over the last eight years.”
The affiliation marks the eighth team or firm to join Indivisible since its founding. In January, it added an $882-million team after Stifel Financial said in a termination notice that it “lost confidence” in the founder. The advisor is disputing the allegation in arbitration.
Clearwater, Florida-based Indivisible had almost $2.1 billion in assets under management as of March, according to its latest Form ADV. It offers recruits equity and transition assistance meant to “replace existing compensation for up to 12 months,” according to the filing.
Indivisible is owned by a private holding company Forbaya, which is controlled by former Merrill leaders John Thiel, as well as Indivisible Chief Financial Officer Tom Corra and Chief Operating Officer John Hogarty. It was initially seeded by $4 million in funding from the founders and their families.
Indivisible custodies with Fidelity’s National Financial Services.

Facts Only

* Indivisible was launched in early 2025 by former Merrill Lynch executives.
* Westlake Village-based FMB Wealth Management advisors joined Indivisible in May.
* The firm will continue to operate under the FMB brand.
* Debra A. Fields transferred majority ownership of FMB to her son, Jeremy J. Fields, Grant E. Blindbury, and Daniel L. Mock.
* FMB has a separately registered entity serving retirement plans.
* Indivisible had almost $2.1 billion in assets under management as of March.
* Indivisible offers recruits equity and transition assistance to replace compensation for up to 12 months.
* Indivisible is owned by the private holding company Forbaya, controlled by John Thiel, Tom Corra, and John Hogarty.
* Indivisible custodies with Fidelity’s National Financial Services.

Executive Summary

Indivisible, an RIA founded in early 2025 by former Merrill Lynch executives, has added a California firm managing $800 million in assets. Westlake Village-based FMB Wealth Management advisors joined Indivisible in May, and the firm will operate under the FMB brand while retaining its separate registration for retirement plans. This affiliation follows an internal succession where Debra A. Fields transferred majority ownership to her son, Jeremy J. Fields, along with Grant E. Blindbury and Daniel L. Mock. The move represents the eighth team or firm to join Indivisible since its founding. Clearwater, Florida-based Indivisible had nearly $2.1 billion in assets under management as of March and offers recruits equity and transition assistance for compensation replacement. Indivisible is owned by the private holding company Forbaya, controlled by former Merrill leaders John Thiel, Tom Corra, and John Hogarty, and it custodies assets with Fidelity’s National Financial Services.

Full Take

The integration of FMB into the Indivisible structure illustrates a pattern where high-profile founder legacy is leveraged to establish credibility in a new venture, facilitating growth through acquisition or affiliation. The succession process involving the transfer of ownership from Debra A. Fields to her children and associates suggests an intentional structuring designed to maintain narrative continuity while enabling operational expansion. The fact that this marks the eighth joining entity signals a successful model for external recruitment, particularly when coupled with strategic announcements regarding confidence shifts elsewhere in the industry. The core implication is the monetization of established reputations and ownership structures to attract capital and talent. The structure implies that value is derived not just from asset management but from the perceived narrative lineage of the leadership. What is the mechanism by which the historical roots and subsequent growth are effectively repackaged for external signaling, and how does this dynamic affect the perception of stability versus rapid expansion in advisory services?

Sentinel — Human

Confidence

The text reads like a factual report summarizing a business announcement, characterized by precise details and quoted statements, suggesting human journalistic drafting.

Signals Detected

Natural flow with clear topic shifts; use of direct quotes feels contextually placed.

Logical progression from firm formation to affiliations to ownership structure without excessive hedging.

Specific data points (dates, asset amounts, names) are presented as verifiable facts, suggesting sourcing.

No overt signs of LLM confabulation; details align with typical corporate announcement structures.

Human Indicators

Specific legal/financial terminology (Form ADV, RIA, assets under management) suggests grounding in real-world reporting.

The embedded quotes carry a specific, defensive tone consistent with corporate messaging.