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.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
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