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Merrill Lynch Loses Yet Another Rep to This Popular New Home

By Alex Padalka November 7, 2018

Merrill Lynch advisors continue leaving for the wirehouse’s small rival First Republic Bank. Most recently, First Republic lured a 30-year industry veteran in Napa, Calif., according to a press release from the firm.

Dan Dwyer joins First Republic as managing director and wealth manager, the company says. He offers investment management and retirement planning, among other services, to individuals, families, businesses, nonprofits and foundations, according to the press release.

Dwyer had been a senior financial advisor with Merrill Lynch for nine years before joining First Republic, the bank says. He began his career in 1985 at Dean Witter Reynolds and had stints at Morgan Stanley and Wells Fargo Advisors before coming to Merrill Lynch in 2009, according to his BrokerCheck profile.

And he’s just the latest Merrill Lynch broker to come to First Republic. Last month, First Republic nabbed a pair of advisors from Merrill Lynch in Century City, Calif.

Since April, First Republic has poached several large producers from the wirehouse, including one advisor managing $650 million and a team overseeing $4.5 billion. First Republic has also picked up advisors from Wells Fargo and UBS this year.