Recent industry movement and recruitment activity.
Top-ranked broker and producing branch manager Lauri Droster takes broader role leading RBC Wealth’s eight branches in St. Paul, while firm hires a veteran Merrill broker in Long Island.
Morgan Stanley also recruited a credit union-housed broker in Oregon who generated $1.1 million in annual revenue.
Veteran Atlanta manager Walter Jameson shifts to run a new complex, handing some of his former duties to a manager who rejoined Morgan Stanley from RBC Wealth.
Pierce, who left Stifel in February, will develop recruiting strategies as head of business development for the 8,000-broker Cetera’s network of independent brokers.
Adding to its June influx, Wells says it hired seven advisors last week from two wirehouse competitors and two regionals cumulatively producing almost $6 million.
Colorado broker left Wells, where she spent more than half of her 38-year career, because of growing charges and its clampdown on small accounts.
The team represents RBC’s largest hire by assets in St. Louis, a branch where the Canadian bank-owned wealth management firm has hired nine advisors since its opening in 2018.
Steve Heng, who had been managing around $350 million at a bank branch, joined Baird on Monday, less than two months after his forced exit from Wells.