New York City-based Liberty Wealth Partners is just the latest team to leave First Republic in the wake of the turmoil that struck regional and West Coast banks.
But the wealth management unit was clearly a bright spot for the firm in the first quarter, with Morgan Stanley's overall earnings falling 19% from the year-earlier period.
Bank of America's wealth management business, which includes Merrill, saw a 3% year-over-year decline in revenue in Q1, as lower equity and fixed-income valuations hit asset management fees.
The agreement between Advisor Group and CAIS on sales of alternative investments, and the revenue such sales would generate, is the crux of the matter.
Chattanooga, Tennessee-based William F. Winchester III was registered with LPL Financial from 2007 to 2012 and then with Raymond James Financial Services.
It's all part of the push by the private equity-owned network of independent broker-dealers toward an initial public offering.
The New York City-based Zipper Duarte team generates $12.5 million in annual revenue.
Rockefeller said it sold a 20.5% minority stake for $622 million to a Canadian investor, IGM Financial.
Toledo, Ohio-based Financial Design Group has 14 advisors. Over the winter, recruiters had cited LPL as one of the firms likely to target Securian advisors.
Open claims against the Iowa-based broker-dealer totaled $32.1 million at the end of 2022, eight times what it reported a year earlier, according to an SEC filing.
