{"id":19560,"date":"2023-06-07T15:30:03","date_gmt":"2023-06-07T19:30:03","guid":{"rendered":"https:\/\/ifintechworld.com\/banking\/first-republic-wealth-advisors-voted-with-their-feet-and-it-wasnt-for-jpmorgan\/"},"modified":"2023-06-07T15:30:04","modified_gmt":"2023-06-07T19:30:04","slug":"first-republic-wealth-advisors-voted-with-their-feet-and-it-wasnt-for-jpmorgan","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=19560","title":{"rendered":"First Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan"},"content":{"rendered":"
\n

But the failure of the California bank was a home run for Morgan Stanley.<\/h2>\n

D<\/abbr>epositors and shareholders weren\u2019t the only ones fleeing San Francisco-based First Republic Bank before it was seized by regulators and sold to JPMorgan. As a crisis of confidence enveloped regional and specialized U.S. banks, especially those with significant levels of uninsured deposits, First Republic\u2019s wealth-management advisors also headed for the exits.<\/p>\n

More than 40% of the struggling bank\u2019s advisors left between the end of February and May 15, data from the Financial Industry Regulatory Authority show. One place those departees didn\u2019t go en masse: JPMorgan Chase, the nation\u2019s largest bank, which on May 1 bought most of First Republic\u2019s assets, including the wealth management operation, for $10.6 billion in a transaction arranged by the Federal Deposit Insurance Corp.<\/p>\n

Analysts and J.P. Morgan have touted First Republic\u2019s $290 billion in wealth management assets as a selling point for the deal. But the advisor exodus suggests the big bank may retain fewer of those assets than widely believed, since wealthy investors tend to follow advisors when they jump ship.<\/p>\n

Using Finra\u2019s BrokerCheck service, Forbes<\/em> counted up the advisors who left First Republic and registered with another firm between the end of February and May 15th. We first searched for advisors who are now, or were previously, registered with or employed by First Republic. We <\/em>then manually reviewed hundreds of individual profiles and respective registration records to see when advisors had switched firms.<\/p>\n

Of the 152 we identified as leaving during the time period we targeted, 28 went to Rockefeller Capital Management (an offshoot of the wealthy family\u2019s own investment management office) and 19 went to Royal Bank of Canada\u2019s wealth management arm. But the big winner was Morgan Stanley, which picked up 49. Only 11 First Republic advisors had moved to JPMorgan before the deal, according to Finra filings.<\/p>\n

<\/fbs-ad><\/p>\n

The bulk of the 152 departures happened before May 1, but about 40 First Republic advisors registered with new firms in the following two weeks. Since there is a lag in postings to BrokerCheck, it\u2019s likely most of those 40 departures were in the works before the May 1 announcement of the J.P. Morgan deal. It remains to be seen how many of the First Republic advisors who haven\u2019t left already (220, according to J.P. Morgan\u2019s most recent estimate on May 3) will stay at the bank for the long run.<\/p>\n

JPMorgan surely realized that such an exodus was taking place and would have adjusted its bid accordingly. Still, after the acquisition, JPMorgan CFO Jeremy Barnum said one of its benefits was \u201caccelerating some of our key growth opportunities, particularly in wealth management.\u201d<\/p>\n

Similarly, the purchase was considered a smart deal on Wall Street in part because First Republic\u2019s high-net-worth client base meshed with the big bank\u2019s ambitions to expand its own wealth-management business. Wedbush analyst David Chiaverini described First Republic as \u201cthe diamond of the season of the FDIC-assisted deals over the past two months,\u201d because of its high-net-worth client base, the kind of operation that \u201cis increasingly being sought after by other banks and wealth managers.\u201d<\/p>\n

S&P Global estimated First Republic\u2019s assets could add 11% to JPMorgan’s existing wealth management operation. \u201cAssuming JPMorgan is able to retain the bulk of FRC’s [remaining] wealth advisers, we believe this should generate consistent recurring revenue,\u201d S&P analysts wrote on May 2.<\/p>\n

In fairness, part of the reason that JPMorgan received so few of the departing brokers may be its own restraint. As First Republic\u2019s deposits and stock price spiraled lower, JPMorgan sent out an internal memo warning executives not to actively recruit First Republic advisors. \u201cWe directed our managers to never exploit a situation of stress or uncertainty,\u201d a JPMorgan spokesperson told Forbes<\/em>.<\/p>\n

Citicorp and Bank of America issued similar cautions, according to Reuters. Morgan Stanley did not respond to repeated requests to say whether it had distributed similar instructions.<\/p>\n

<\/fbs-ad><\/p>\n

But there are other reasons, too\u2013including culture and compensation\u2013that the brokers may have favored Morgan Stanley over the big banks. Morgan Stanley was created after Congress, in the 1933 Glass-Steagall Act, required that commercial banking and investment banking be split. (One of Morgan Stanley\u2019s founders was the grandson of JPMorgan\u2019s founder.) While the separation of investment and commercial banking was repealed more than two decades ago, the biggest commercial banks still struggle to attract some of the richer wealth management clients.<\/p>\n

\u201cThe fact that many of these wealth advisors were with First Republic and not one of the other large banks in the first place suggests that there could be some adverse selection from JPMorgan\u2019s perspective,\u201d notes Eric Compton, a senior analyst at Morningstar. \u201cMeaning, these are advisors that might be more likely to leave over time to go back to the non-mega bank set up and\/or culture.\u201d<\/p>\n

What the advisors do is critical, because an advisor that moves from one firm to another typically takes roughly 75% of their client assets with them, according to research firm Cerulli Associates.<\/p>\n

But Compton figures JPMorgan structured the deal to be profitable even without the advisors who had already departed. Just acquiring First Republic\u2019s commercial banking business, which accounted for 82% of the bank\u2019s more than $1.6 billion in net income last year, according to filings, would leave JPMorgan with good returns, he says. (At an investor presentation Monday, JPMorgan predicted the acquisition would raise its net interest income for 2023 by $3 billion to $84 billion.)<\/p>\n

\u201cAny ability to keep any of the additional value of First Republic (wealth clients, wealth advisors, private bankers, etc.) would be extra optionality on top of that, which is the smart way to do it,\u201d Compton wrote in an email exchange with Forbes<\/em>, adding, \u201cby structuring it the way they did, JPMorgan minimized those risks financially, and made sure the deal made sense under multiple scenarios.\u201d<\/p>\n

\u201cThere will definitely be some distractions throughout the integration process and it\u2019s pretty hard to know if most clients and advisers stick around,\u201d an Evercore ISI analysts group led by Glenn Schorr wrote after the deal, though they added that it certainly \u201caccelerates\u201d JPMorgan\u2019s U.S. wealth strategy.<\/p>\n

S<\/abbr><\/p>\n

everal advisors interviewed by Forbes<\/em> who asked to remain anonymous predicted there will be a cultural adjustment for many of the former First Republic advisors who stay at JPMorgan. Some will certainly enjoy the stability provided by being at a bigger institution, but many others could have a hard time adjusting to the more rigid structure. One example: First Republic was able to offer loans to clients on attractive terms JPMorgan is unlikely to replicate.<\/p>\n

Another key consideration is compensation structure and what kind of payouts First Republic advisors will get. As an aggressive recruiter of wealth advisors over the last few years, First Republic offered a variety of significant bonuses to attract talent. Now, those advisors will have to adjust to a new reality at JPMorgan, which like many of the other big wirehouses, promotes a team compensation model, rather than outsized awards for the stars, insiders say.<\/p>\n

<\/fbs-ad><\/p>\n

Still, the bank has made aggressive efforts to persuade First Republic advisors to stay, with CEO Jamie Dimon and other executives pitching on conference calls the company\u2019s resources and offerings for clients. JPMorgan will almost certainly be targeting certain advisors (especially those with big client assets on their books) in its retention efforts. First Republic\u2019s strong roster of wealthy clients in coastal cities such as San Francisco and New York is, after all, the heart of this prize.<\/p>\n

\u201cThere are many tools at JPMorgan\u2019s disposal to manage retention risk, such as compensation and incentive structures, or things like additional autonomy within JPMorgan\u2019s overall management structure,\u201d notes Compton.<\/p>\n

Why did Morgan Stanley receive so many of the departing wealth managers? A spokesperson for the firm insisted they didn\u2019t solicit any of the hires. But a source familiar with the company\u2019s operations says that Morgan Stanley did actively recruit at least some of the advisors who signed up with it.<\/p>\n

Even if the firm\u2019s recruitment was low key, departing advisers showed a clear preference for going to Morgan Stanley and less interest in JPMorgan.<\/p>\n

\u201cThe good news is that these advisors are going from one strong brand to another strong brand,\u201d says Rob Sechan, CEO of NewEdge Wealth, an investment advisory firm with more than $30 billion in assets under management. He predicts most advisors and their clients will welcome the stability of a bank that is not reliant on uninsured deposits to support its assets. What\u2019s more, he points out, many of the advisors who were on long-term contracts at First Republic are more likely to stay put now in order to get their full payouts.<\/p>\n

\u201cClients will certainly like JPMorgan\u2019s stability better than First Republic, but a lot might consider other options in finding their own preferred new advisor,\u201d says James Stack, president of Investech Research and Stack Financial Management. \u201cIf clients start leaving JPMorgan, the advisors will leave.\u201d And vice versa, of course.<\/p>\n

<\/fbs-ad><\/p>\n

<\/h4>\n

MORE FROM FORBES<\/strong><\/h4>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

But the failure of the California bank was a home run for Morgan Stanley. Depositors and shareholders weren\u2019t the only ones fleeing San Francisco-based First Republic Bank before it was seized by regulators and sold to JPMorgan. As a crisis of confidence enveloped regional and specialized U.S. banks, especially those with significant levels of uninsured […]<\/p>\n","protected":false},"author":1,"featured_media":19561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[237],"tags":[83],"class_list":["post-19560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-featured"],"yoast_head":"\nFirst Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan | iFintechWorld<\/title>\n<meta name=\"description\" content=\"But the failure of the California bank was a home run for Morgan Stanley. Depositors and shareholders weren\u2019t the only ones fleeing San Francisco-based\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=19560\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"But the failure of the California bank was a home run for Morgan Stanley. Depositors and shareholders weren\u2019t the only ones fleeing San Francisco-based\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=19560\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-07T19:30:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-07T19:30:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1686166203_0x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=19560#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=19560\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"First Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan\",\"datePublished\":\"2023-06-07T19:30:03+00:00\",\"dateModified\":\"2023-06-07T19:30:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=19560\"},\"wordCount\":1534,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Banking\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=19560#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=19560\",\"url\":\"https:\/\/ifintechworld.com\/?p=19560\",\"name\":\"First Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-07T19:30:03+00:00\",\"dateModified\":\"2023-06-07T19:30:04+00:00\",\"description\":\"But the failure of the California bank was a home run for Morgan Stanley. Depositors and shareholders weren\u2019t the only ones fleeing San Francisco-based\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=19560#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=19560\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=19560#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"First Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"First Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan | iFintechWorld","description":"But the failure of the California bank was a home run for Morgan Stanley. Depositors and shareholders weren\u2019t the only ones fleeing San Francisco-based","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=19560","og_locale":"en_US","og_type":"article","og_title":"First Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan | iFintechWorld","og_description":"But the failure of the California bank was a home run for Morgan Stanley. Depositors and shareholders weren\u2019t the only ones fleeing San Francisco-based","og_url":"https:\/\/ifintechworld.com\/?p=19560","og_site_name":"iFintechWorld","article_published_time":"2023-06-07T19:30:03+00:00","article_modified_time":"2023-06-07T19:30:04+00:00","og_image":[{"width":1200,"height":675,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1686166203_0x0.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=19560#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=19560"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"First Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan","datePublished":"2023-06-07T19:30:03+00:00","dateModified":"2023-06-07T19:30:04+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=19560"},"wordCount":1534,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Banking"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=19560#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=19560","url":"https:\/\/ifintechworld.com\/?p=19560","name":"First Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-07T19:30:03+00:00","dateModified":"2023-06-07T19:30:04+00:00","description":"But the failure of the California bank was a home run for Morgan Stanley. Depositors and shareholders weren\u2019t the only ones fleeing San Francisco-based","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=19560#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=19560"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=19560#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"First Republic Wealth Advisors Voted With Their Feet\u2013And It Wasn\u2019t For JPMorgan"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/19560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19560"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/19560\/revisions"}],"predecessor-version":[{"id":19562,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/19560\/revisions\/19562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/19561"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}