First Republic Bank is a San Francisco-based bank and wealth management company offering personal banking, business banking, trust and wealth management services.
Dominique Jordan, 30, and Isaac Richard III, 28, who were profiled in August for being one of Morgan Stanley’s youngest-ever Black teams, mark the third group to join First Republic this year.
The 10-person group had been overseeing $2.9 billion in assets and is based out of New York City and Boca Raton, Florida.
First Republic’s hire is its first this year after scooping up eight teams in 2020 but marks an unusual recruit outside its typical Wall Street focus.
California-based private bank is giving select recruiters up to 12% of a prospect’s trailing 12-month production—double the industry standard—in an offer that expires in April.
Duo who had joined First Republic in 2013 after running their own RIA had been overseeing $900 million in assets, according to a person familiar with their book.
Group in Los Angeles led by John McNamee is at least the third multi-million Merrill team to join the San Francisco bank since August.
The advisory teams First Republic has been attracting from traditional brokers helped drive a 20% increase in third-quarter assets.
High-profile Washington State broker Phil Scott moved his 11-person team on Tuesday to First Republic.
Group of seven advisors and eight associates had overseen $1.7 billion in client assets and mark the fifth team to join First Republic this year.
Stacy Allred, who guided Merrill’s richest clients on how to think about wealth, left after almost 20 years for First Republic while her former colleague Michael Liersch joined Wells Fargo after stint with J.P. Morgan.