D.A. Davidson recruits $320M RBC team, opens new office

D.A. Davidson recruited a team managing $320 million from RBC to open a new branch office for the regional broker-dealer, according to a spokesman.

Advisors Jeremy Elbert and Chris Holstad and registered client associate Tina Minske joined D.A. Davidson in West Fargo, North Dakota.

Elbert, previously a branch director with RBC, will also serve as branch manager for the new D.A. Davidson location, according to his employer.

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Both advisors had been with RBC for their entire careers. Elbert joined the company in 2000 while Holstad signed on with RBC in 2003, according to FINRA BrokerCheck records. Minske has been with the team since 2014.

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A spokeswoman for RBC declined to comment on their departure.

D.A. Davidson is a regional brokerage firm headquartered Great Falls, Montana with approximately 360 advisors.

The firm has selectively recruited advisors in recent years. In September, D.A. Davidson picked up a father-son team from Wells Fargo in Bend, Oregon.

RBC, meanwhile, also has been an aggressive recruiter, luring teams away from the wirehouses. Last week, the firm said it hired a mother-daughter team from Merrill Lynch. They oversaw about $150 million at their former employer.