RBC hires 3 wirehouse advisors with $300M

Pedestrians carry umbrellas while walking past Royal Bank of Canada (RBC) signage displayed at the Royal Bank Building during the company's annual general meeting in Toronto, Ontario, Canada, on April 6, 2017. RBC Chief Executive Officer David urged lawmakers to coordinate interventions and act quickly to cool housing markets, particularly in Toronto and Vancouver. Photographer: Cole Burston/Bloomberg
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RBC notched three wirehouse advisor hires, concluding a strong September for the firm’s recruiting team, according to the company.

The regional broker-dealer has been an aggressive courter of advisor talent this year, luring over a number of hires with promises of better tech and a more advisor-friendly culture. In early September, RBC announced one of its biggest recruits this year: a team overseeing $1.4 billion in client assets.

One of RBC’s latest additions is Joseph Farrell. The Sioux Falls, South Dakota-based advisor oversaw $125 million at his previous employer, Wells Fargo. Farrell moved to RBC for its culture, according to the firm's statement.

He joined RBC Sept. 14, having worked at Wells Fargo and its predecessor firm, A.G. Edwards, since 2003, according to FINRA BrokerCheck records.

Ex-UBS advisor Kris Wappaus joined RBC in McLean, Virginia, a suburb of Washington, D.C. Wappaus previously oversaw $97 million, according to his new employer.

Wappaus, who made the move Sept. 17, also cited RBC’s corporate culture and “boutique feel” as reasons for the career change, according to the firm’s statement He had been with UBS since 2011 and has previously worked at Wells Fargo and Smith Barney.

RBC’s third hire, Stephenson Gragg, joined the firm Sept. 29 from Merrill Lynch. Gragg previously oversaw $70 million in client assets and is based in Quad Cities, Iowa, according to his new employer.

As with the firm’s other new hires, Gragg cited the company’s culture as a factor in his career move.

He has nearly three decades in the business. Gragg had been with Merrill Lynch since 2011, and was previously employed by Morgan Stanley, according to BrokerCheck.

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