In another blow for Wells Fargo Advisors, prominent Midwest team that had been with firm for 13 years moves to Canadian bank’s U.S. wealth unit.
After multi-year cessation, the wealth management unit of the Canadian bank restores its retirement account match for brokers and makes no changes to its 2019 payout plan.
Charlie Eldemire leaves RBC in Houston to run his hometown Dallas RayJay branch, while Cathy Galgano shifts from Chicago suburb to run MS complex on Park Avenue.
Joe Chu and partner Chris Phillips leave after a combined 30 years, saying they were frustrated with wirehouse’s growing intolerance for deviation from model portfolios.
Brokers with between 18 and 34 years experience all jumped last week in Texas, Utah and Minnesota.
Moves add to a steady stream of departures from the Swiss bank’s U.S. brokerage business as regional firms lay down the welcome mat.
After recruiting a Tennessee broker with $900 million in client assets in June, it brings over his former branch manager to help expand the RBC office.
Brokers who each spent more than a quarter century at Merrill say they searched for firm that puts clients first, but third team member with 46 years at the firm stuck with the Thundering Herd.