RBC Ushers Out a Top Advisor in Minneapolis
RBC Wealth Management-U.S. has dismissed a “Chairman’s Club” advisor who had spent over a quarter century with the firm in its headquarters city in Minneapolis.
Cinda Collins, who led a team that Forbes credits with managing $425 million in client assets, left RBC on November 18. The firm alleged concerns about “workplace interactions with colleagues” that violated its code of conduct, according to a U5 filing it made with state securities regulators.
The charges were not related to customers, customer accounts or sales issues, the filing said.
Collins, a former soybean broker and bond trader who ranked #28 on Forbes’ list of top advisors in Minnesota, declined to comment on her departure or her next steps.
“I do have plans, but I’m not able to speak about them now,” she said in a brief phone interview. She is not currently registered as a broker or advisor.
An RBC spokeswoman did not return a request for comment.
Given her bona fides as a senior producer with a strong public profile in the community, her departure struck at least one source at the firm as a surprise. Her recognition club position signals she was among the top 150 of RBC Wealth-U.S.’s approximately 2,000 advisors, and she ranked as #164 on Forbes’ 2019 list of the top 250 women advisors in the U.S.
Deborah Johnston, a former partner on Collins’ Lighthouse Wealth Management Group team, moved to UBS Wealth Management USA in July 2017 after 16 years with RBC. Two other advisors and two client associates remain on the team, said a person answering the Lighthouse Wealth phone.
Collins began her retail brokerage career with RBC predecessor firm Dain Rauscher in the summer of 1992, according to her BrokerCheck record.