Due to last year's regional bank crisis, J.P. Morgan Wealth Management is parting ways with two multi-billion-dollar teams.

Merrill Lynch is set to welcome a 12-person team from J.P. Morgan Wealth Management in Florida, managing a substantial $3.5 billion in client assets. Similarly, Citizens Bank announced its acquisition of a comparably sized team based in San Francisco, also originating from J.P. Morgan.

Following the regional bank turmoil, J.P. Morgan acquired many of First Republic's assets, including loans, securities, and deposits. This transition marks a full-circle journey for many advisors who have begun their careers at large brokerages.

A 2023 WealthManagement.com analysis revealed that 69 percent of First Republic advisors had joined from wirehouses or other major firms such as Ameriprise, Goldman Sachs, Raymond James, and Credit Suisse.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.