Stephen J. Groth, Patrick M. Cummings, Robert Chavez and Katrina R. Stump managed $1B in client assets and were all “Merrill lifers” with a collective 73 years of experience at the firm. But changes both at Merrill and throughout the industry landscape prompted the team to proactively perform due diligence, with the goal of determining whether they were best positioned to service their clients in the future.
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.