By Lavanya Nair
RBC Wealth Management hired an advisor from Merrill Lynch who oversaw $250 million in client assets, according to the company.
Joining the Florham Park office in New Jersey, veteran advisor David Hollenberg has 24 years of experience in the financial services industry. He spent the entirety of his career at Merrill Lynch, according to FINRA BrokerCheck records.
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
