RBC Wealth Management

The action in federal court alleges the exiting advisors received an incentive package worth as much as $70 million for joining RBC.

The Canadian firm saw an 8% jump in its net income, but CEO Dave McKay foresees a "softer economic outlook" next quarter.

For the second time this year, the Canadian firm has poached a billion-dollar team from a much larger company.

As he updated RBC shareholders on a disappointing quarter, CEO Dave McKay cited the U.S. banking crisis and gridlock over the debt ceiling.

The moves reflect a wild week of First Republic advisors rushing to firms including JPMC, Morgan Stanley and UBS following their employer's calamitous earnings call Monday.

The regional firm, whose parent is the 10th largest bank in the world by market capitalization, is eager to pitch top advisors seeking stability. At the same time, it's ramping up a major branding campaign with Major League Soccer and Apple to woo next-generation clients.

The move comes as First Republic's struggles in the banking crisis have driven many high-profile advisors to leave, creating an opening for others to poach.

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

The managing director was arrested for two domestic violence incidents over a three-week period.

Kristin Kimmell brings decades of experience and notable success as the replacement to the former head recruiter promoted only last year.