RBC Hires Another Wells Manager, This Time in California
RBC Wealth Management-U.S. has again dipped into Wells Fargo Advisors’ talent pool, drafting a manager to run its reorganized Walnut Creek branch in northern California.
Sean Phillips, who had been overseeing Wells’ private client group offices near San Francisco for the past three years, joined RBC two weeks ago to oversee 14 brokers, a spokeswoman said.
Minneapolis-based RBC is one of several firms that have been expanding at the expense of Wells. Since May, it has recruited large Wells teams and managers in West Palm Beach and Boca Raton, Florida, Wisconsin and Nashville.
“As we continue our explosive growth in northern California, Sean’s exceptional leadership and recruiting skills will help us attract the very best advisors in this important market,” Michael Schipper, RBC’s northern California complex manager, said in a prepared statement.
Bruce Meyers, a producing manager who had been running Walnut Creek since RBC combined it and an Oakland office into expanded quarters in May, has returned full-time to production, a spokeswoman said. Meyers has spend 16 of his 20-year career as a broker with RBC.
A spokeswoman at Wells Fargo Advisors, which has lost over 1,000 brokers on a net basis since its parent company disclosed fines for creating fake checking and credit card accounts two years ago, did not return a request for comment on Phillips’ departure or on his replacement at its Walnut Creek branch.
Phillips, who began his career as a registered rep in 2001 at Merrill Lynch, was producing around $1 million at the firm before assuming a complex director role for the firm in northwest Florida, according to RBC. He left Merrill in February 2015 to become a manager with Wells, according to his BrokerCheck history.