The Todd Halbrook and Adam MacDonald Management Group in Newport Beach, Calif., is departing First Republic a little more than a month after some regional banks collapsed.

Barry Friedberg, co-chairman of New York Private Bank & Trust, Emigrant Partners’ parent company, will assume Heckenberg’s responsibilities on an interim basis.

The natural order is being tested in the wealth management industry, and it will be some time before we see who the real winners and losers are.

Growth at what cost?

The departure was announced alongside Nuveen’s settlement of a years-long legal battle with Preston Hollow Community Capital.

The platform now features 1,181 strategies from 290 asset management firms, according to the company.

EP Wealth scooped up a billion-dollar firm in its second acquisition of the year while a handful of other deals representing almost $900 million in assets were announced this week, and Private Advisor Group added a new role.

Portrait Analytics exits stealth with $3 million in seed funding and generative AI that is emblematic of what the future holds for advisors.