Merrill Lifer Producing $3.4 Million Jumps to First Republic in NYC
First Republic Bank’s Private Wealth Management division has lured a veteran Merrill Lynch broker who led a team generating $3.4 million in annual revenue, according to a well-placed source.
The group is led by Radhika Mehta-Sharan, who started as a client associate at Merrill in 2000, according to her LinkedIn profile and registration records. She moved along with a junior partner, Nick Fanneron, and had managed $350 million in client assets, according to the source.
At Merrill, Mehta-Sharan had been a senior vice president leading the six-person MS & Associates Group, which included another advisor and three support staff, according to a team page. Fanneron, who has been a broker for four years, had the corporate title of assistant vice president.
All the support staff also made the move. Jason A. Steinmetz, who has nine years of experience and was listed on the team page as a senior financial advisor, remains with the thundering herd, according to BrokerCheck. Steinmetz did not return a call for comment.
The move marks the second Merrill team this month to make the journey to First Republic following a $4.3 million group led by Theresa Rutledge and Anthony Custodio in Silicon Valley. Their hire brings the San Francisco-based bank’s recruiting tally this year to seven from around the industry.