Bank of America announced that an advisor team overseeing $3.5 billion in client assets has joined the Merrill Private Wealth Management division from J.P. Morgan Wealth Management.
As reported by ThinkAdvisor, the 12-person team had been associated with First Republic Bank from 2020 to 2023 before transitioning to J.P. Morgan after it acquired First Republic. Before their tenure at First Republic, the team had a lengthy history at J.P. Morgan Securities. Based in Palm Beach Gardens, Florida, the team serves ultra-high-net-worth and high-net-worth clients.
The move is one of several moves by former First Republic teams not pleased with J.P. Morgan.
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