RBC Wealth Management has added a former Merrill Lynch team with about $565 million in client assets to its Wayzata branch in Minnesota, according to a news release.
The Johnson Group include Mark L. Johnson, managing director and financial advisor, Bart McNabb, vice president and financial advisor, Adam Johnson, financial advisor, Carrie Orvik, senior registered client associate and Julie Perrella, senior client associate.
The Johnson Group, which has been with Merrill Lynch since 2013, focuses on wealth management strategies for multiple generations of wealthy individuals and families, including executives at large companies, business owners and legal and medical professionals, the release said.
Johnson, who began his career at Morgan Stanley in 1992 and moved to Merrill Lynch in 2013, said RBC has a strong reputation of financial stability and puts the needs of clients first. “We believe we will be able to continue providing our clients with all the products and offerings of a large, global institution but with a small-firm culture,” he said in a statement.
Mark Gherity, Minneapolis Complex director, said Johnson and his team “are highly regarded in the industry and among clients for their thoughtful, high-touch approach and outstanding client service.” He added that RBC continues to look to attract similar top-tier teams as the firm continues to pursue growth in the Twin Cities.
Founded in 1909, RBC Wealth Management (U.S.) has $528 billion in total client assets with more than 2,100 financial advisors operating in 181 locations in 42 states.