Alex. Brown poaches $180M team from RBC
Alex. Brown, a high-end wealth management division of Raymond James, was able to entice an advisor team managing $180 million in client assets away from RBC.
Some regional brokerages have been on red-hot recruiting sprees as of late. Advisors have been ditching some firms for greater independence and more recently due to concerns regarding the Broker Protocol.
RBC has benefitted from this trend, welcoming a surge of new talent lately. However, the Rigler Group, operating in Los Angeles, decided to leave the firm in order to take advantage of the support and resources offered at Alex. Brown.
“Alex. Brown has a proud history in California, strengthened by the firm’s influence during many dot-com era IPOs, including Microsoft, Starbucks, Sun Microsystems and Oracle,” John Davis, Alex. Brown coastal regional director, said in a statement. “Alex. Brown’s strong brand and the resources and support offered by Raymond James continue to attract outstanding advisor teams.”
The firm has been driving its expansion, pulling in talent from its competition.
Regional firms have been on a recruiting spree this year.
Collin Rigler spent 13 years as an advisor with RBC, according to FINRA BrokerCheck records. He brings almost three decades of experience managing portfolios for private and corporate client accounts at a number of different firms including Alex. Brown/Deutsche Bank.
“I am proud to rejoin Alex. Brown, after the reinvigoration of the brand and now backed by the robust support and commitment of Raymond James,” Rigler said in a statement. “We now have all the resources we need to best serve our clients, from staff and back office support, to the sophisticated technology. Alex. Brown and Raymond James make it easy to do business, resulting in a much better experience for me and my clients.”
Rigler wasn’t available to comment directly. RBC did not respond to requests for comment.
Joining Rigler is his associate Eric Montijo, who spent two years as an advisor with RBC before making the move. At Alex. Brown, Montijo will be responsible for all equity research, market analysis, equity syndicate and presentations necessary to guide the team’s portfolios.