By Mason Braswell, AdvisorHub – The veteran broker recruiting market showed no signs of cooling off this fall as First Republic Bank’s private wealth unit on Friday landed a $7.5 million solo practitioner from UBS Wealth Management USA in Boston, according to two sources familiar with the move.
First Republic Private Wealth Management grew from $14.5B in AUM to more than $190B in the past decade. President Bob Thornton discusses what’s driving this remarkable success and making it one of the most attractive destinations for top advisors.
First Republic Private Wealth Management And Rockefeller Capital Management: What Makes Them So Appealing To Top Financial Advisors?
By Mindy Diamond, Forbes.com – A peek behind the curtains of these two firms demonstrates how the right combination of features has created a best-of-both-worlds model that stands out amongst the competition.
How First Republic Private Wealth, an under-the-radar wealth management firm, became the hottest ticket in the space—and why it matters
By Mindy Diamond – 6 reasons why First Republic Private Wealth is a home run for financial advisors looking for a solid middle ground between independent and employee models.
In part 2 of 2, Mark Sear and David Hou pick up where their story left off after the 2008 break from Merrill, the sale of their RIA Luminous Capital to First Republic in 2012, and their decision to go back to independence as RIA Evoke Advisors.
Mark Sear and David Hou, Managing Partners of Evoke Advisors, talk about their 2008 breakaway from Merrill Lynch to form RIA Luminous Capital, why they chose to sell Luminous to First Republic, their decision to leave First Republic for independence again, and much more in part 1 of a 2-part podcast episode.
Industry Update: Why Rockefeller, First Republic and Other Boutique Firms Are Attracting So Many Top Advisors
The 3rd of a 3-part series on the landscape of the wealth management industry explores today’s boutique firms – a quasi-independent model – focusing on the top 2 firms in particular: Rockefeller Capital Management and First Republic Wealth Management.
Mindy Diamond Quoted – By Jason Bisnoff, Fund Intelligence – First Republic has added a four-person team from UBS to join the firm’s bank branch office in Paramus, New Jersey. Kieran Lynch, Jack Inserra, Craig Kaufman and Joel Kaufman join First Republic Investment Management after serving as Saddle River Wealth Management at UBS for more than 12 years. The team was producing $3.6m in fees and commissions and managed around $550m at UBS, according to Advisor Hub.
Mindy Diamond Quoted – By Bruce Kelly, InvestmentNews – In 2008, when a group of advisers in charge of $7 billion left Merrill Lynch to set up their own RIA, Luminous Capital Holdings, the financial advice industry was aghast. It was an audacious move, particularly for a team of all-star financial advisers.
Louis Diamond Quoted – By Ann Marsh, Financial Planning – It’s a historic week in wealth management. No bank, regardless of size, has ever watched anything close to $17 billion in clients assets walk out the door. Given that this misfortune befell a relatively small one this week, the blow — at first blush — appears especially severe for First Republic Bank.
Recent News & Articles
- Industry Update: Should You Consider a Move When Markets are Turbulent?
- Should FAs Be Tested for Cognitive Decline?
- The Path to Independence: 6 Key Elements to Consider Before Starting Your Journey
- Ex-Merrill ACTM Chair to Independent Business Owner: A Former Insider’s Point of View
- UBS Comp Changes Make It Harder to Battle Asset Outflows–Analysis
Subscribe for Updates
Get updated by email when a new article is added.