Twenty-nine year Merrill veteran in Scranton moved family team producing $4.2 million to Wells, and eight-person team overseeing $540 million in Minocqua, Wis. joined RBC (which also hired two Merrill teams in northern California).
The U.S. unit of Royal Bank of Canada has recruited at least two UBS teams in August and two Merrill Lynch teams earlier this summer.
Team said to be managing about $440 million is the second to leave Merrill’s Buckhead branch for RBC this summer.
Move by 23-year industry veteran in Nevada on Thursday follows the departure of a 21-year UBS lifer to RBC Wealth earlier this month.
Thirty-four-year industry veteran knew that money mistakenly deposited into his brokerage account was “too good to be true,” a Finra hearing panel ruled.
Four Long Island advisors on an Ameriprise employee-channel team split for offices of rival firm in Manhattan and Boca, while a wirehouse broker in Des Moines leaves to launch an independent practice in the city.
Benjamin Joel agrees with his former firm to a court order restraining him from soliciting former clients to his new practice at RBC, though immediate family members and customers who already signed ACATS forms are excluded, in conformance with Finra rules.
Father-son team overseeing $2.5 billion in assets resigned on Friday, sources said.
Request for TRO claims 30-year veteran who tracked clients on his Rolodex illegally solicited customers before and after his departure.
Together with another family member, brokers who are jointly based in Arizona and California were overseeing about $455 million of customer assets prior to their move last week.