Three advisors in Newport Beach, California, who had overseen about $1 billion in client assets at First Republic Bank are affiliating with RBC Wealth Management, in the latest attrition in First Republic's ranks.
Todd Halbrook, Adam MacDonald and Vince Lovoy will operate as the Todd Halbrook and Adam MacDonald Wealth Management Group. They are joined in the move by staffers Christie Gregg and Parker Howard.
All three advisors had been affiliated with First Republic since 2018. Halbrook has 27 years of experience, according to his BrokerCheck report, and had done stints at Wells Fargo and Citigroup before joining First Republic. MacDonald, with 16 years of experience, had also worked at Wells Fargo before joining First Republic. Lovoy, with 39 years of experience, has worked at Wells Fargo, Citigroup, Lehman Brothers, Kidder Peabody and Crowell Weedon.
First Republic has seen a few teams exit since the collapse of Silicon Valley Bank cast a shadow over other West Coast and regional banks, including First Republic.
San Francisco-based Marchetti Porter Wealth Partners, with a reported $1 billion in AUM, joined Rockefeller Family Global Office. Vikshal Bakshi, with $1.5 billion in assets, joined Morgan Stanley, as did a team of New York City-based financial advisors led by Adam Zipper and Joseph Duarte, with $10.8 billion in total client assets.
Nine-month electronic trading freeze and share lending program at the center of dismissed claim.
Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.
With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.
Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.
The brokerage giant tells Wall Street it will use artificial intelligence to reach clients it has never been able to serve — and turn the technology's perceived threat into a competitive edge.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
