The RIA said it was acquiring the two San Francisco-based teams. This follows last week’s announcements that multi-billion-dollar former First Republic teams had joined Merrill Lynch and Citizens Bank.
Private equity participation picked up after a 2023 dip, five deals involving over $20 billion in assets were announced and a couple of new names appeared on the list of top buyers.
Clayton Ortloff, an advisor out of Midland, Texas, will join the independent broker/dealer’s model for advisors looking for more autonomy while buttressed by back office support.
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