RBC

After the Schwab-TD merger, rival firms are re-thinking the settlement process, testing new pricing models, and improving advisor efficiency and service. Is David sprinting past Goliath?

The brokers collectively generated more than $88 million in annual revenue while overseeing nearly $15 billion in assets under management.

At an average age of 37, the top-producing brokers operate in 18 different states, plus the District of Columbia and Guam.

The firm’s aggressive hiring streak continues with the onboarding of several wirehouse advisors.

The firm’s new business highlights the beginnings of a shift in the custody marketplace due to a series of consolidations.

Nate Angelo will be responsible for 137 advisors who manage roughly $20 billion in assets.

The former wirehouse advisors specialize in financial strategies for high-net-worth clients, families and businesses.

The advisors are reuniting with a former Smith Barney colleague in one of the firm’s largest hires of the year.

The multigenerational group includes a grandfather, father and son.

The new recruits came at the expense of Merrill Lynch, UBS and Wells Fargo.

The firm expands on both coasts with Glasband Stempel Wealth Management in Florida and Carol Wilshire in California.

“The strategy was really tied to choosing the right partners who we knew had a greater likelihood of integrating well together,” says Amit Sahasrabudhe, COO of the firm’s U.S. wealth management business.

As consolidation reshapes the market, the custodian sees an opportunity to attract tech-forward and multi-custodial firms.

The team caters to athletes, entertainers, and entrepreneurs.

The new hires were previously at Merrill Lynch, UBS, and BB&T.

As anxious as they may be to take advantage of the opportunity, there are pitfalls and hidden costs, advisors warn.

The new hire joins a fast-growing complex in Northern California.

They left Merrill Lynch and Wells Fargo to join their new firm.

The bank’s home city of Toronto boasts a population that is more than 50% foreign-born, but there is little diversity in the upper echelons of its financial firms.

They join a growing St. Louis branch that RBC opened in 2018.