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First Republic’s issues stem from its stockpile of loans at low interest rates, including an unusually large portfolio of jumbo mortgages to wealthy clients.
Matt Blocki left the insurance broker/dealer world to build Equilibrium Wealth, allowing him to step away from being “product-driven” and focus instead on being “client-driven.”
Advisor J.P. Garofalo left Morgan Stanley as part of a six-person team overseeing $1.2 billion in early March for the now-troubled First Republic. He returned to the wirehouse this week.
At the Morningstar Investment Conference on Tuesday, the NYU professor said legislators and regulators should take responsibility for the ills that ESG investors seek to remedy.
Advisor Group will merge its eight broker/dealers onto one platform, under a new name, in an effort to reduce complexity, streamline around business channels, and unlock the benefits of its size and scale.