By Sabrina Escobar, Barron’s – An eight-person advisor team managing $1 billion in client assets became the latest to break away from the thundering herd, joining RBC Wealth Management’s Pacific Northwest complex. The team, which calls itself Inter Alia, is composed of advisors Stephen Groth, Patrick Cummings, Robert Chavez, and Katrina Stump, and client associates Susan Junell, Mimi Jue, Deborah Jenkins, and Rachel Akerson.
By AdvisorHub Staff – Four career Merrill Lynch brokers who had spent a total of 73 years at the “thundering herd” left on Friday for RBC Wealth Management-U.S. in Portland, Oregon, punctuating ongoing attrition at the wirehouse.
By Jacqueline Sergeant, Financial Advisor Magazine – A longtime Merrill Lynch father-son team with $500 million in assets has left to join RBC Wealth Management in Chicago, according to a news release.
By Miriam Rozen, AdvisorHub – RBC Wealth Management on Thursday nabbed a Chicago-area Merrill Lynch Wealth Management father-son team that managed more than $500 million in client assets, according to an RBC spokesperson.
By Andrew Welsch, OnWallStreet – Stifel signed on two teams managing more than $450 million in combined assets to staff two new branch offices, according to the firm, furthering the regional broker-dealer’s aggressive hiring streak in recent months.
By InvestmentNews – A team of advisers that managed $1.2 billion in client assets at UBS in Overland Park, Kansas, is joining Raymond James & Associates, the broker-dealer’s employee adviser channel.
By Erika Wheless, Financial Planning – Raymond James snapped up five former Merrill Lynch advisors who managed a collective $515 million in client assets, according to the firm. All five cited Raymond James’ technology platform as motivation for making the career change.
By Jake Martin, Citywire – Bedminster, New Jersey-based advisor Robert Bacino recently switched to the employee channel of Ameriprise Financial, leaving behind the independent RIA space he had joined more than 15 years ago. While the Covid-19 pandemic might have accelerated the move, Bacino says he was already leaning toward an exit from the independent channel.
By Andrew Welsch, OnWallStreet – Advisors managing more than $600 million in client assets have joined Raymond James, furthering the firm’s recruiting efforts. Advisors Jon Russell and Ryan Winkler are leaving Merrill Lynch for Raymond James. Based in Novi, Michigan, a suburb of Detroit, the team managed $214 million in client assets, according to Raymond James.
By Andrew Welsch, OnWallStreet – A team that managed $1 billion in client assets quit Merrill Lynch to join J.P. Morgan Securities, the bank’s high-end brokerage unit. Financial advisors Christopher Andrews, Jacob Robert Webb, David Luther signed on with J.P. Morgan Securities in Palm Beach, Florida, where they report to regional director Rick Penafiel.
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