RBC

Regional brokerages and firms that assist breakaway advisors have been picking off top talent at the wirehouses.

The regional firm has been a recruiting tear, picking up a number of ex-wirehouse teams.

In the last month, RBC has hired six teams from wirehouses and other regional firms.

Big banks north of the border are rapidly expanding their U.S. wealth divisions, competing with their stateside peers for higher-income clientele.

Smaller brokerages are benefiting in big ways from cutbacks at three of the four largest firms.

Two of the groups joined the regional firm from Morgan Stanley.

The new complex manager will oversee 43 advisers at the regional brokerage.

The advisers previously worked at RBC Wealth Management, with one of them making the firm’s Chairman’s Council.

The new hires generated almost $2 million in annual revenue, according to the regional firm.

The firm's newest broker generated $1 million in annual revenue while at Baird, an RBC spokeswoman said.