RBC grows mid-Atlantic footprint with double-team addition from Wells Fargo

RBC grows mid-Atlantic footprint with double-team addition from Wells Fargo
RBC Wealth Management’s latest hires in Pennsylvania and Virginia reportedly managed $801M in client assets combined.
AUG 30, 2024

RBC Wealth Management has expanded its presence in the Mid-Atlantic region with its addition of two Wells Fargo advisor teams with a combined $801 million in client assets.

Based in Conshohocken, Pennsylvania, the Salon Magura Private Wealth Group brings $455 million in client assets to RBC Wealth Management.

The team, led by Rob Salon and Pari Hashemi Magura, offers a holistic approach to wealth planning, drawing on more than 90 years of combined experience.

A seasoned veteran, Salon’s nearly 30-year record of registration as a broker with Finra includes tenures at Morgan Stanley, Citigroup, and UBS.

Both Salon and Magura will serve as managing directors, financial advisors, and senior portfolio managers at RBC.

“Rob and Pari lead a dynamic team who was attracted to the RBC Wealth Management culture, accessibility to management and size of the organization,” said Scott Ceniccola, Philadelphia complex director at RBC Wealth Management. “We’re excited to see them flourish as they continue to deliver a full suite of services to their clients with the firm’s support.”

Elsewhere in Tysons, Virginia, Bernard Suissa joins RBC Wealth Management with $346 million in client assets. Suissa, who will also take on the role of managing director and financial advisor, specializes in serving high-net-worth clients and guiding them through complex financial situations.

Suissa also boasts a nearly 30-year record with Finra, including a history with Citi and Merrill Lynch.

“Bernard serves high-net-worth clients well, and has a talent for guiding them through various complex situations,” noted Warren Bischoff, mid-Atlantic complex director at RBC Wealth Management. RBC Wealth Management, a subsidiary of Royal Bank of Canada, manages $619 billion in total client assets in the US. The firm operates with over 2,100 financial advisors across 191 locations in 42 states, providing wealth management solutions to individuals, families, and institutions.

Latest News

'Bogged down' advisors just want to have fun (again)
'Bogged down' advisors just want to have fun (again)

Jim Cahn, of Wealth Enhancement Group, lifts the lid on his firm's partnership model, his views on RIA M&A, and the widely slept-on reason why advisors are merging into larger organizations.

Vestwell unveils new emergency savings account offering
Vestwell unveils new emergency savings account offering

The fintech firm is cementing its status in the workplace savings space with its latest ESA offering, which employers can integrate into their existing benefits package.

'Money Mimosas' and other ways to show your Valentine financial love
'Money Mimosas' and other ways to show your Valentine financial love

Wealth managers offer unique ideas for couples to grow closer emotionally and financially.

Limra research finds financial confidence on the rise among Black American workers
Limra research finds financial confidence on the rise among Black American workers

Survey findings suggest increased sense of financial security and more optimistic 2025 outlook, while highlighting employers' role in ensuring retirement readiness.

DOGE efforts sideswipe muni bonds backed by federal lease payments
DOGE efforts sideswipe muni bonds backed by federal lease payments

Falling prices for some securities within the $4 trillion state and local government debt market spotlight how the push to shrink spending is sending shockwaves across the US.

SPONSORED Record growth: Interval funds emerge as key players in alternative investments

Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.