RBC Nabs FAs from Stifel and Merrill Lynch But Faces $2.9 Million Fine
October 28, 2019
By Alex Padalka
RBC made a string of new advisor hires from rivals last week, but the firm must also pay close to $3 million over alleged failures in sending out fund prospectuses.
In Scottsdale, Ariz., meanwhile, RBC has added Bill Herf, a 22-year veteran of the industry, the company says in a separate press release. Herf previously managed around $230 million for 150 families and foundations at Stifel Nicolaus, Stifel Financial’s broker-dealer subsidiary, RBC says.
“I was impressed with RBC’s ability to provide all of the investment solutions and clear, concise planning to lead our clients to success, while maintaining a positive and inviting small-firm culture that also understands the importance of giving back to our community,” Herf says in the press release.