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

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.