RBC Wealth Management, a division of RBC Capital Markets, LLC, picked up five new teams and three advisors in November. All of them are from well-known large firms.
Two teams and one advisor joined from Wells Fargo. Advisor Bruce Gelland went to RBC’s Midtown Manhattan office. The Ballantyne – Quire Investment Group joined the Tucson, Ariz. branch and The Hobgood Peatross Investment Group joined in Raleigh, N.C.
RBC made Timothy Woods,a former branch manager at UBS, its senior vice president in Des Moines, Iowa, and added The Langer Wealth Management Group from UBS to its Tucson branch.
“We have a small-firm culture where everyone knows your name, backed by a large, well-capitalized & healthy financial institution in RBC,” said RBC’s president Tom Sagissor. “This gives us a competitive advantage and a good story to tell.”
RBC also recruited Dan Sherman to a division in Sewickley, Pa., and The Hendershot – Frederiksen Group to its Dallas branch. Both were from Morgan Stanley. RBC also added the PVG Group from Merrill Lynch to its division in Palos Verdes, Calif.
When asked if there were any year-end recruitment goals, Sagissor said, “We are very comfortable at the size we are, so [we] have the opportunity to be selective and grow with the right strategic partners.”
The firm has around 1,800 advisors at 200 locations in 40 states, and has $310 billion in client assets.