First Republic is no longer a secret among elite advisors. The banks’ wealth management arm has stacked up big wins from every corner of the wealth management map.
As of late, they’ve been particularly successful with two firms, Merrill and Lynch. In our conversations with advisors engaged with First Republic the word ‘culture’ comes up a lot.
Of course, culture matters, but so does the sizable deal First Republic offers elite advisors. Over a seven-year period, the FRB offer can go as high as 500%. Wow. And 200% of it can be had as you walk in the door moments after resigning from your old firm.
Back to culture for a moment – Merrill advisors continue to seek out the types of firms that feel like Merrill use to feel; exclusive, collegial, and entrepreneurial. FRB fits that bill well, so winning recruiting battles should continue.
Expect more advisors from the firms, Merrill and Lynch, to find their way to FRB. :)