By Mason Braswell
A New Jersey broker who had spent his 24-year career with Merrill Lynch shifted last week to RBC Wealth Management, expressing irritation with the firm’s Bank of America parentage.
David Hollenberg and two client associates joined the Florham Park, N.J., branch of Royal Bank of Canada’s U.S. broker-dealer, RBC said on Tuesday. He had been managing $250 million of client assets at Merrill’s nearby branch in Wayne, according to RBC.
UBS is increasing its recruiting efforts, offering top advisors deals of up to 550% of annual revenue while targeting experienced private bankers.
Advisors at some of the largest firms in the country are leaving, and not in a trickle. In 2024 alone, more than 9,600 experienced advisors changed firms, according to industry data from Diamond Consultants.
June 12, 2026Louis Diamond QuotedBy Andrew Cohen Median compensation for financial planners reached $195,000 in 2025, marking a 15% year-over-year
