When advisors contemplate a transition to a new firm, their minds are occupied with crucial considerations: the transition deal, deal economics, technology and platform capabilities, brand reputation, autonomy levels, the firm’s commitment to maintaining a stable GRID and fostering a positive culture. Therefore, evaluating a firm for a potential move requires a nuanced and subtle…
For over half a century, The Gershman Group has partnered with advisors, guiding them to assess their practices and find the optimal fit. In the past decade, the perennial question has persisted: stick with the established wirehouses or embrace independence. Much like in investing, life demands a careful weighing of risks against rewards. While maximizing…
Alex Brown advisors and their predecessor firm Deutsche Bank has been a part of my family’s history for decades. Both myself and my father, Norman Gershman, were once advisors who always had high respect for these advisors and consequently, we too have acted as trusted consultants. As the firm now folds into Raymand James, we…
JPMorgan’s Private Bank initiated a new family office practice geared towards the UHNW. For First Republic advisors sitting in the wealth management arm of the business, this announcement brings some concern given that the firm’s attention seems to be focused on the Private Bank. 17-year JPMorgan veteran, William Sinclair, is to lead the group and…
In a scenario reminiscent of The Clash’s iconic song “Should I Stay or Should I Go,” First Republic advisors find themselves facing tough decisions. While JPMorgan Chase (JPMC) assures them that they will be treated differently, respecting their unique culture and franchise, skepticism abounds. Advisors are being enticed with promises that their former offices will…
Overall, the acquisition of First Republic’s wealth management business by JPMorgan presents both opportunities and challenges for financial advisors. While the acquisition will give First Republic advisors access to new vast resources, they will also need to navigate the challenges of integration, client retention, and cultural differences. Ultimately, success will depend on the ability of…
Our loyalty is to First Republic Bank as a proud 30-year private banking customer and having recruited diligently for the firm for over a decade. Like all advisors, we are extremely hopeful for a positive outcome and recommend to advisors expend all options to stay at the firm. Of course, many have begun to formulate…
First Republic acquires a $10 million group, Sal Tiano and team in Florida. Sal leaves JP Morgan after 29 years. The team was managing approximately $2 billion + in assets at JPM. A great win for First Republic. ABOUT FIRST REPUBLIC First Republic has been on a major recruiting binge, recruiting top teams nationally. In…