Eyes Wide Open As First Republic Advisor Should Be Wary Of J.P. Morgan Takeover
Curious about a move? Secure multiple offers now by completing the form below. We can make this commentary long or short. It is up to you how far you want to read. But here is the short version for (now former) First Republic advisors – get out of there now. J.P. Morgan is a name […]
The Never-Ending Revolving Door That Is Edward Jones
Curious about a move? Secure multiple offers now by completing the form below. Much has been made over Edward D. Jones & Co.’s stated goal to hire 1500 advisors in 2023. The firm had originally set that goal for 2022, but soon realized that that timeline was overly ambitious, as reported recently in AdvisorHub. The […]
The Rise Of The RIA Channel
The last few years have been marked by a notable rise of the registered investment advisor (RIA) channel within the financial services industry. Despite the slight decline in RIAs at the peak of the pandemic, which was likely due to infrastructure needs as a result of stay-at-home orders, the RIA channel continues to lead the […]
First Republic Death Spiral Creates Recruiting Feeding Frenzy
As this article is being constructed, First Republic Bank has lost 47 total advisors out of its wealth management division; out of roughly 200 total. In the past 40 days departures have greatly accelerated and more than 25% of the total wealth management professionals at the firm have decided to do business elsewhere. More than just […]
UBS Headcount Weakens, But Assets Grow Based On Recruiting Success
For nearly 24 months now UBS Wealth Management has been on a winning streak. Recruiting was uniquely robust in 2021 and 2022 and the fruits of that labor is finding itself onto the balance sheet of the bank. While top line headcount ticked just a bit lower, executives described the move to be associated with […]
Major Cuts Coming At UBS
Just a few weeks after UBS announced its takeover of rival Credit Suisse, UBS is preparing to make major cuts once the deal is complete. UBS Group AG is looking to cut its workforce by 20% to 30%, resulting in the loss of roughly 36,000 of the 120,000 full-time positions following the merger. The predicted […]
Tearing Up The Repapering Myth
The demise of First Republic has given rise to an interesting question…are concerns over repapering overblown? For decades, advisors have been hesitant to leave their existing firms to pursue better opportunities for one simple reason – repapering. They worried the required paperwork to bring their clients with them would be too onerous for some clients. […]
What Should (Former) First Republic Advisors Do Now?
The neat and tidy stories in the media about JP Morgan Chase absorbing First Republic Bank suggest that the 150 FRB brokers will and should embrace their new employer, no questions asked. “We believe our brand, the investment platform, banking capabilities, and research can make us the firm of choice for many of these advisors,” […]
FINRA Flips To Focus On Flex
It’s been 3 years since our world got turned upside down and stay-at-home orders were issued all around the country. While most of the U.S. has returned to business as usual, the pandemic demonstrated just how productive people can be while working from just about anywhere. As a result, more and more workers are looking […]