Skip to Main Content
SUBMIT A TIP RECEIVE DAILY NEWS
Menu AdvisorHub
  • News
      • Latest News
          • (left to right) Brian Beraha, Alexis Audisio, Jared Pillar, Michelle Gonzalez, Horacio Aguirre and Vicente Del Rio moved to UBS's private wealth business in Miami from J.P. Morgan's private bank.UBS Nabs $11-Mln J.P. Morgan Private Bank Team in Florida, Another in Ohio
          • Advisor HeadcountWirehouses: Just Say No to Disclosing Broker Headcounts
          • Age discrimination47-Year Industry Veteran Targets Wells with Age-Bias Claim
          • Stifel Chief Executive Ronald KruszewskiStifel Bumps CEO Pay 15% to $11.5 Million
        • Close
      • Advisor Moves
          • (left to right) Brian Beraha, Alexis Audisio, Jared Pillar, Michelle Gonzalez, Horacio Aguirre and Vicente Del Rio moved to UBS's private wealth business in Miami from J.P. Morgan's private bank.UBS Nabs $11-Mln J.P. Morgan Private Bank Team in Florida, Another in Ohio
          • Doris Neyra, Melissa Van Putten-Henderson and Gina Jamurath moved to UBS's private wealth business in Miami from Wells Fargo's private bank.UBS Lands $14-Mln Team from Wells Private Bank in Miami
          • Merrill Lynch Exterior Sign and LogoMerrill Recruits Citi Private Banker in SF, Loses Teams to Janney, Sanctuary
          • Advisor movesFirst Republic Hires $4.6-Mln Morgan Stanley Team in NYC
        • Close
      • Enforcement
          • Advisor FraudSEC Charges RIA with Pro Athlete Niche for Ripping Off Clients
          • advisor-diy-tools-772×485Ex-Jones Broker Suspended for Attempting DIY Settlement with Client
          • Advisor GuiltyEx-Merrill Broker in Chicago Pleads Guilty to $3-Mln Fraud
          • J.P. MorganFinra Fines, Suspends Ex-J.P. Morgan Broker Fired over Unauthorized Trades
        • Close
      • Markets
        • `Nothing Safer Than Cash’: Tech Rout Puts Silicon Valley on Edge
        • ‘Any News Is Bad News’ as Earnings Fail to Save Equity Bulls
        • ‘50 Cent’ Profited From Volatility Jump, Wells Fargo Says
        • ‘Beaten Down’ ETF Is a Way to Play Inverted Curve, BofA Says
        • Close
      • Opinion
          • TRO-772×485Sirianni: Toxic Culture
          • Opinion-How-Will-The-Coronavirus-Affect-The-Stock-Market-Opinion: Coronavirus – What Advisors Need to Know
          • opinion-investors-conquered-fees-next-up-is-their-own-behaviorOpinion: Investors Conquered Fees but Not Their Own Behavior
          • Investor-Confidence-In-Stocks-Rightly-Declines-Opinion-772x485Investor Confidence in Stocks Rightly Declines: Opinion
        • Close
      • Fintech News
          • Fintech Cryptocurrency ClearingFintech Firm Apex Clearing Agrees to Go Public Via SPAC
          • System outageMerrill Systems Hiccuped on Thursday as Stocks Slid
          • 7 dollar rolls‘The Rock’ Invests in Finance App Acorns, and New Users Get $7
          • TraderHigh-Frequency Traders Love Business With Robinhood
        • Close
      • From the Publisher
          • TRO-772×485Sirianni: Toxic Culture
          • Welcome to AdvisorHub RIA-772×485Welcome to AdvisorHub RIA
          • 2021 PredictionsFrom the Publisher: Sirianni’s Predictions for 2021
          • Josh Rogers – 772×485Seven Questions with Tony Sirianni: Josh Rogers, Founder and CEO, Arete Wealth
          • Phil Hildebrandt — 772×485Seven Questions with Tony Sirianni: Phil Hildebrandt, Principal, CEO of Segall Bryant & Hamill
          • Christian Hyldahl, President of Varium Investment Partners-772×485An AdvisorHub Interview with Christian Hyldahl, President of Varium Investment Partners
          • John Peluso – 772×485Timely interview with John Peluso and AdvisorHub CEO Tony Sirianni
          • Louis Dworsky Coronacrash Interview-772×485Coronacrash Update: Hayden Royal’s Louis Dworsky & Tony Sirianni
        • Close
    • Close
  • Deals & Comp
  • Recruiting Wire
  • Breakaway Center
  • Resources
    • resources-home-menuResources Home
    • PRACTICE MANAGEMENT RESOURCESPractice Management Resources
    • Transition ResourcesTransition Resources
    • Fintech ResourcesFintech Resources
    • menu fintechFintech Product Directory
    • Menu-Institute-772×485Institute
    • Boutique Wealth AdvisorsBoutique
    • EventsEvents
    • Close
  • AdvisorHub TV
  • Podcasts
  • RIA Center
  • Asset Manager Hub
  • Virtual Summit
close X
September 14, 2020

First Republic Hires $2.5 Million Merrill Producer in California

by Mason Braswell
|
Advisor Moves, News
|
Bank of America, First Republic, Merrill Lynch, Rockefeller Capital Management
|
Comments (2)
Share This
SUBMIT A TIP
First Republic Hires $2.5 Million Merrill Producer in California

First Republic on Friday landed another multi-million dollar Merrill Lynch producer, this time in its headquarters city of San Francisco.

Brian Addington, who sources said generated $2.5 million in annual revenue on $300 million in client assets, joined First Republic after 13 years at Merrill and another Bank of America brokerage unit. He arrived with three support staff.

Addington did not return a request for comment on his decision.

First Republic has been reaching into wirehouses, and to Merrill in particular, to build the wealth management brokerage arm of its core private banking business. In August, it made waves when Phil Scott—one of Merrill’s top producers who had been with the firm for 35 years—took his team to First Republic. The team, based in Bellevue, WA, generated around $18 million at Merrill, sources said.

The bank in July recruited Stacy Allred, who counseled Merrill advisors on family wealth strategies for very wealthy clients, for a similar role. Its private bank chief investment officer is Chris Wolfe, another Merrill alumnus.

First Republic, which Merrill purchased in 2007 and which Bank of America subsequently sold back to management after buying Merrill in 2009, went public in late 2010. It has been offering top advisors deals that recruiters say can top 300% of the annual revenue they produced at their previous firms.

Wealth management remains a small part of First Republic’s business. Its approximately 205 advisors generated about 12.4% of the company’s second-quarter revenue of $919 million. But it has added at least seven wirehouse teams teams this year, on pace with the 10 who joined last year

Recruiters said First Republic is vying for top wirehouse brokers with other “boutiques” such as Rockefeller Capital Management, which on Friday landed a Morgan Stanley team in Dallas that produced around $5 million in the previous 12 month. (Rockefeller earlier this year hired Brian Riley, a former Merrill and First Republic veteran, to run its San Francisco office and Pacific Northwest division.)

A Merrill spokesperson did not return a request for comment on Addington’s departure.

Addington spent the first six months of his career as a registered rep with Merrill before leaving for stints at Dean Witter Reynolds, Smith Barney and Wells Fargo from 1998 through 2006, according to his BrokerCheck history. He joined Banc of America Investment Services almost 14 years ago, segueing into Merrill in 2009 when the bank purchased the wirehouse.

Like this article? Let AdvisorHub come to you!  Sign up

Share This
Comments (2)
  • on Sep 15 2020, BofAdumpsterfire says:

    The transformation from Ruth’s Chris to Burger King is on schedule.

    > Reply to BofAdumpsterfire
    • on Sep 15 2020, Math Question says:

      Last week was the 37th week of the year and Merrill has lost $36 Billion worth of teams. If a Billion a week is really “historically low levels of attrition”, I wonder what a normal year looks like.

      > Reply to Math Question

Leave a Reply Cancel reply

Tony Sirianni Podcast Banner

CORONACRASH NEWS

  • Stifel Bumps CEO Pay 15% to $11.5 Million

    Stifel Bumps CEO Pay 15% to $11.5 Million

    Apr 20, 2021
  • Fed to End Covid-19 Capital Break It Gave Wall Street Banks

    Fed to End Covid-19 Capital Break It Gave Wall Street Banks

    Mar 19, 2021
  • Credit Suisse Replaces U.S. Exec, Halts Bonuses as Clients Fume

    Credit Suisse Replaces U.S. Exec, Halts Bonuses as Clients Fume

    Mar 18, 2021
  • Firing of Billion-Dollar Broker Sends Warning on Work-from-Home Compliance

    Firing of Billion-Dollar Broker Sends Warning on Work-from-Home Compliance

    Mar 12, 2021
  • Big U.S. Banks’ Vows to Halt Job Cuts End as Virus Endures

    Big U.S. Banks’ Vows to Halt Job Cuts End as Virus Endures

    Feb 26, 2021

NEWS

  • UBS Nabs $11-Mln J.P. Morgan Private Bank Team in Florida, Another in Ohio

    UBS Nabs $11-Mln J.P. Morgan Private Bank Team in Florida, Another in Ohio

    Apr 21, 2021
  • Wirehouses: Just Say No to Disclosing Broker Headcounts

    Wirehouses: Just Say No to Disclosing Broker Headcounts

    Apr 21, 2021
  • 47-Year Industry Veteran Targets Wells with Age-Bias Claim

    47-Year Industry Veteran Targets Wells with Age-Bias Claim

    Apr 21, 2021
  • Stifel Bumps CEO Pay 15% to $11.5 Million

    Stifel Bumps CEO Pay 15% to $11.5 Million

    Apr 20, 2021
  • BofA Open to “Rethink” of Crypto Investing Ban: CEO

    BofA Open to “Rethink” of Crypto Investing Ban: CEO

    Apr 20, 2021

Recruiting Winners: 2020 Year in Review

FINANCIAL INDUSTRY PODCASTS

AllIndependence
The must listen-to podcast for financial advisors by Tony Sirianni. Guests to include:
-Ron Kruszewski
-Shirl Penney
-Penny Pennington
-Eric Clarke
and many more
Incisive conversations focused on helping investors navigate the ever-changing global market landscape
Michael Kitces and Carl Richards discuss financial advising topics.
The “new advice value stack,” and how firms can use it to help maximize their own value propositions for their clients.
Interviews and insights for advisors curious about switching to a new broker dealer.
The Brighthouse Financial Insights Panel is a group of leading, independent experts providing powerful insights into the big challenges facing you and your clients.
Powering Independence Podcast, insights and ideas for RIAs, presented by Dynasty Financial Partners. A podcast dedicated to presenting fresh ideas and best practices for the wealth management industry.
As an industry expert, Frank LaRosa provides guidance and advice on a host of topics from recruiting and transitions, succession planning, practice management, M&A and more.
Our goal is to unlock the challenges to reveal the opportunities and what it means to provide advice in the 21st century.
Go behind the scenes with registered investment advisors and other related independent business model experts
As a nationally recognized recruiter and consultant to financial advisors, Mindy Diamond has unmatched experience in introducing advisors to the independent space.
The must listen-to podcast for investors, venture capitalists and financial advisors, with Tony Sirianni and Paul Dietrich.
An Introduction to Independence: 5 Key Episodes to Jumpstart Your Knowledgebase
Jay is an investment strategist, CERTIFIED FINANCIAL PLANNER™ and business consultant to financial advisors.
We interview top financial advisors and visionary voices to bring you the strategies, tips, and tools you need to make a difference in people’s lives.
A financial literacy and commentary show that features a number of investors, financial experts, professional athletes, business owners and more.
Join Sound Financial Group CEO Paul Adams and President Cory Shepherd every week, as they help you Design and Build a Good Life™.
The Kuderna Podcast, focusing on wealth in it's original meaning- a state of well being.
Timeless wisdom, actionable information you can use right now to make smarter investment decisions.
Made for and dedicated to those folks serious about their financial plan.
Suzanne Siracuse asks the questions nobody else asks, as influencers and interviewer collide in her new and truly unique podcast series The Big Reveal.
Our webcast is dedicated to helping our viewers get real insights by avoiding the cognitive dissonance of today’s media outlets and biased editorial filters.

Latest News 
Advisor Moves 
Enforcement 
Opinion 
  • About Us
  • Contact Us
  • Advertise
  • Events
  • Careers

 get our newsletter

Industry focused content and breaking news.

SIGN UP

Contact Us

EMAIL US
1707 Post Oak Blvd.
#484
Houston, TX 77056

© 2021 AdvisorHub
  • |Terms of Use
  • |Privacy Policy
  • |Advertise
  • |Careers
  • Facebook
  • Linkedin
  • Twitter

Back to top