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.
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.
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.
A 40-year wirehouse veteran in Pittsburgh anticipates better client-outreach technology as a Dynasty-supported RIA while a veteran Merrill broker in Idaho managing $525 million says he’ll have more freedom within Raymond James’s employee channel.
RBC Wealth Management recruited two UBS teams in Washington, D.C. managing $817 million ten days ago while Wells Fargo Advisors picked up a half-million-dollar UBS producer in Washington State.
Three Manhattan advisors who began their careers more than 30 years ago at Bear Stearns, and had been with Morgan Stanley for seven years, joined RBC last week.
Led by a 19-year UBS “Best in State” veteran, the team negotiated its move through “virtual” recruiting visits because of shelter-in-place coronavirus restrictions, RBC said.
The move is the third within a week that the Royal Bank of Canada unit confirmed amid the chaos of the coronavirus crisis.
U.S. brokerage unit of Canadian bank is latest to accept regulatory sanctions for failing to ensure that eligible customers knew they could have purchased less expensive classes of fund shares.