RBC Wealth Management has recruited three advisors from separate wirehouses with a collective $292 million in assets under management.
Joseph Farrell, who joins from Wells Fargo, previously managed $125 million in AUM. He will serve as a manager in the Sioux Falls, S.D., branch. Farrell said he moved to RBC because of its “unique culture” and for the management opportunity.
Kris Wappaus, formerly of UBS, managed $97 million. He will be based in the McLean, Va., branch. Wappaus said he was attracted to RBC’s family-like culture and a client-first focus. “It has a boutique-feel but offers a broad array of client solutions and has an impeccable reputation along with a second-to-none credit rating in uncertain times,” he said.
Stephenson (Steve) Gragg, who joins from Merrill Lynch, will be based in the Quad Cities, Iowa, office. He managed $70 million. Gragg said he was attracted to RBC’s core value of putting the needs of clients first and its entrepreneurial culture for advisors. He said he also looks forward to leveraging the organization’s planning tools and platform to better serve his clients.
In the U.S., RBC Wealth Management operates as a division of RBC Capital Markets, which has founded in 1909. RBC Wealth Management has $414 billion in total client assets with more than 2,000 financial advisors operating in 179 locations in 42 states.