RBC and Wells Fargo have each bolstered their ranks this week with new hires from UBS, while Raymond James expands its own employee advisor channel with an experienced duo switching from a rival broker-dealer.
RBC Wealth management announced it has added a $500 million team in New York, with the Austin and Smith Wealth Management Group joining the firm’s Syracuse branch from UBS.
The team includes financial advisors Thomas Austin and Ryan Smith, as well as senior registered client associate Elizabeth Moynihan. Combined, the group brings more than 50 years of industry experience and focuses on planning and wealth strategies for individuals, institutions, and business owners.
“The Austin and Smith group is a well-respected and experienced team with a high-quality book of business,” said Frank Albanese, Great Lakes Complex director at RBC. “We are excited to welcome them to RBC.”
The addition supports RBC’s ongoing expansion in the Great Lakes Complex, where the firm has opened three new offices and brought on 35 advisors over the past four years.
RBC's most recent advisor additions include a $5-billion ensemble from JPMorgan Wealth Management and a billion-dollar advisor formerly with US Bank, with both moves happening last month.
At Wells Fargo Advisors, Thomas Robinson joined the Private Client Group after departing UBS. With more than two decades in the industry, Robinson brings over $184 million in client assets and generates more than $2.1 million in annual production as he operates in Boston, Massachussetts.
Earlier this week, Wells Fargo also welcomed Roswell Steadman to its bank-based channel in the Carolina East market. Steadman arrives from Raymond James with nearly $100 million in AUM and more than $1 million in production.
He has eight years of experience in financial services under his belt following a six-year career in the Marine Corps infantry where he completed his service as a sergeant.
Meanwhile, Raymond James has recruited veteran advisors Lisa Fouraker and Steven Victor to its employee channel, Raymond James & Associates. The Pennsylvania-based pair previously managed over $165 million at Janney Montgomery Scott. Their team also includes sales associate Joshua Fouraker and senior registered client service associate Mary Kane.
Fouraker began her advisory career at Smith Barney in 1997 after working in the tech sector, while Victor entered the business in 1983 and brings over 40 years of experience.
Prior to Janney, both Fouraker and Victor had stops at RBC, Citi, and Merrill Lynch at various points in their careers, according to their BrokerCheck records.
Both advisors will operate under the supervision of Kelly Anderson, Northeast divisional director at Raymond James, as they serve a range of clients, including business owners, nonprofits, and retirees.
Earlier this week, Raymond James made another addition to RJA with the arrival of Seth Diamond, also a veteran from Janney, in Connecticut.
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.
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