RBC grabs father-son team managing $395M from Wells Fargo
RBC Wealth Management has poached a father-son-team managing $395 million from Wells Fargo Advisors.
The Dominello Investment Group includes advisor George Dominello, senior vice president, and his son William Dominello, also senior vice president. The elder Dominello brings with him 36 years of experience in the industry. He spent 11 years with Wells Fargo and 24 years with Advest, according to BrokerCheck records. His son has 10 years of experience in the industry, all with Wells Fargo.
Also joining the team is Vanessa Mason, senior registered client associate. Mason brings almost a decade of experience to the team, according to BrokerCheck. In addition to Wells Fargo, she has spent time with firms USAA Financial, Charles Schwab, LPL Financial, and NFP Securities.
“We decided to join RBC Wealth Management because of its global reputation for strength and stability,” George and William said in a statement. “We were also incredibly impressed that everyone from senior management to the individual advisor truly puts clients first in all decisions.”
They will be based in RBC’s office in Farmington, Connecticut, which opened Oct. 16.
George and William were not available to comment. Wells Fargo did not respond to requests for comment.
The father of the $141 million team worked for Raymond James for 12 years.
"This is a window for these regional firms to really explode," says Rob Blevins, a recruiter in Dublin, Ohio.
A different regulatory landscape is encouraging brokers to reconsider their options.
The addition of The Dominello Investment Group comes as RBC continues a hot recruiting streak. Recently, a former HighTower executive joined the firm to lead its recruiting efforts. The firm also brought on $350 million advisors from Wells Fargo and Janney. A former Russell Investments executive was hired this month to head RBC’s consulting unit. In August RBC grabbed three new advisory teams in a move that represented almost $1 billion in AUM.