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

Supreme Court bars activist investors from suing funds under investor law
Supreme Court bars activist investors from suing funds under investor law

Saba pushed; the justices pushed back - and the SEC keeps the gavel.

Why do retirees struggle to spend their savings? New research reveals the decumulation planning gap
Why do retirees struggle to spend their savings? New research reveals the decumulation planning gap

Survey of near-retirees and retirees finds widespread anxiety about drawing down savings, with a clear confidence boost for those who plan ahead.

Goldman, JPMorgan grant work-from-home passes as World Cup crowds threaten Wall Street commutes
Goldman, JPMorgan grant work-from-home passes as World Cup crowds threaten Wall Street commutes

Two of Wall Street's most vocal opponents of remote work are bending their own rules for the tournament.

North Carolina court strikes down wealth firm's non-compete and non-solicit as overbroad
North Carolina court strikes down wealth firm's non-compete and non-solicit as overbroad

Two restrictive covenants gone in one ruling - and the drafting flaw is everywhere.

The wealth trap: Why feeling rich matters more than being rich
The wealth trap: Why feeling rich matters more than being rich

Clients' everyday realities, anxieties, and aspirations naturally change as they go up the wealth scale – and that has profound implications for advisors helping them find what "enough" really means.

SPONSORED Estate planning isn't a service add-on. It's your retention strategy.

As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.

SPONSORED Why strategy matters more than performance

In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.