RBC nabs $610M team from Truist

RBC nabs $610M team from Truist
The Cypress Group will operate out of RBC’s office in Wilmington, North Carolina.
JAN 05, 2024

RBC Wealth Management has added a five-member team that oversaw $610 million in client assets at Truist, the firm announced Friday.

The Cypress Group, which is led by managing director Paul S. Brinkley, will join RBC’s office in Wilmington, North Carolina. Its clients include high-net-worth individuals, business owners and executives.

The team’s members include Jeremy Beakes, senior vice president; Adam VanDamme, financial advisor; and staffers Meredith Clark and Leticia Glenn-Jones. The group has a collective 90 years of experience.

“Our team’s mission is to provide stewardship and guidance to help our clients protect and grow their legacy,” Brinkley said in a statement. “We are confident that we can continue to provide the best possible service to our clients at RBC Wealth Management.”

Brinkley had been affiliated with Truist and predecessor firm BB&T since 2013. He has 27 years of experience, having started at Wheat First Securities in 1996, according to his BrokerCheck report. Beakes started at BB&T in 2004, according to BrokerCheck, while VanDamme started at UBS in 2014 and joined BB&T in 2017.

How to use a holistic approach to reduce financial stress

Latest News

Asset-Map, VastAdvisor launches help solve advisors' growth puzzle
Asset-Map, VastAdvisor launches help solve advisors' growth puzzle

Asset-Map makes a bet on a partner ecosystem while VastAdvisor goes deeper on AI and CRM integration to help advisors grow.

RightCapital claims industry first with AI agent for financial planning
RightCapital claims industry first with AI agent for financial planning

The fintech firm's Iris agent arrives as other financial planning tech providers move quickly to incorporate AI into their workflows.

Advisor moves: LPL lands $500M Tribute Financial team from United Planners
Advisor moves: LPL lands $500M Tribute Financial team from United Planners

Also, a Fidelity veteran goes indie with Osaic OSJ Innovative Financial Group, and Citizens welcomes a sports and entertainment-focused trio previously overseeing $800 million from Morgan Stanley.

Wealth management star Dimple Shah joins Humanity Labs to help drive AI push
Wealth management star Dimple Shah joins Humanity Labs to help drive AI push

Former Osaic executive Shah has joined the self-described AI workforce company as managing director in charge of its engagement efforts with wealth firms.

SEC probes private equity continuation vehicles amid surge in deals
SEC probes private equity continuation vehicles amid surge in deals

The SEC enforcement division is reportedly digging into potential conflicts of interest, valuations, and disclosure in fast-growing fund manager-led transactions.

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income

SPONSORED Why direct indexing stopped being optional

Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.