Rockefeller Global Family Office said Wednesday that it had hired Liberty Wealth Partners, previously a First Republic Bank team. Liberty Wealth Partners manages $2.3 billion of client assets, according to Forbes.
First Republic, which has been one of the most prominent firms hiring experienced wirehouse financial advisors for the past decade, has been losing high-profile teams and financial advisors since March, when turmoil struck regional and West Coast banks, customers began pulling deposits and two banks shut down.
For example, near the end of March, San Francisco-based Marchetti Porter Wealth Partners with $1 billion in client assets left First Republic and also joined Rockefeller Family Global Office. And earlier this month, a New York-based First Republic team with $10.8 billion in client assets led by Adam Zipper and Joseph Duarte jumped to Morgan Stanley.
A First Republic spokesperson didn't return a call Thursday morning to comment about Liberty Wealth Partners leaving the bank's wealth management group.
Liberty Wealth Partners, which is also based in the New York metropolitan region, includes managing directors and private advisors Larry Rothenberg, Shaun Van Vliet, David Farber and Schuyler Perry, and senior vice president and private advisor Timothy Deygoo, according to a statement from Rockefeller Family Global Office.
Before he started work at First Republic Securities Co. in early 2017, Rothenberg had been registered with Merrill Lynch for almost 21 years, according to his BrokerCheck report profile.
Liberty Wealth Partners was recently recognized by Forbes as a top advisor team.
Rockefeller Capital Management is a longtime family office that five years ago plunged into the broader wealth management business, and by all indications, it's intent on hiring top-producing financial advisors. Earlier this month the firm said it had sold a 20.5% stake for $622 million, putting its valuation in the neighborhood of $3.1 billion.
As of the end of last month, the firm oversaw $100 billion in client assets across its three businesses: Rockefeller Global Family Office, Rockefeller Asset Management and Rockefeller Strategic Advisory.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
The fintech firms' new tools and integrations address pain points in overseeing investment lineups, account monitoring, and more.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.
The approval of the pay proposal, which handsomely compensates its CEO and president, bolsters claims that big payouts are a must in the war to retain leadership.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
