New York-listed First Republic Bank has opened a new office in Palm Beach, FL, bringing its total number of US offices to 70.

The branch is located at 241 Royal Palm Way and provides private banking and wealth management services.

Florida proved an attractive place for wealth managers to launch offices and hire staff last year and so far 2013 looks like it's heading down the same route. Earlier this month, for example, the Private Client Reserve, a unit of US Bank that targets high net worth clients with over $1 million in investable assets, relocated its Naples, FL, office as part of a strategic move to target high net worth clients in Florida. Similarly, in the same week Tampa, FL-based Beacon Asset Management opened an advisory office in Naples, FL.

Click here to view a feature examining how and why many firms launched operations or added new staff in Florida in early 2012.