Welcome to Financial Advisor IQ
Follow

First Republic Nabs FAs from Jefferies

By Alex Padalka May 16, 2018

Two financial advisors at the private wealth management unit of Jefferies have jumped ship to First Republic Investment Management, according to a press release from First Republic Bank.

Jeremy Wenner joins the firm’s San Francisco office, First Republic says. Wenner began his financial services career at Bank of America in 1999 and joined Jefferies in 2010, according to his BrokerCheck profile.

Adam Beard joins First Republic’s Boston office, meanwhile. He started in the industry in 1996 and joined Jefferies likewise in 2010, according to his BrokerCheck profile.

Wenner and Beard will offer wealth management to individual investors, families, businesses, nonprofits and foundations, according to First Republic.

The duo collectively produced almost $3.5 million annually in fees and commissions and oversaw around $500 million, AdvisorHub writes, citing people familiar with the move and the bicoastal practice.

First Republic has been on a hiring spree for its wealth management unit in recent months. In April, the company nabbed a $4.5 billion team from Merrill Lynch. Earlier the same month, First Republic recruited an advisor from Wells Fargo Private Bank. And in January, Merrill Lynch lost a duo of advisors managing $1.5 billion to First Republic.