RBC grabs $300M pair from Morgan Stanley Smith Barney
A duo of veteran financial consultants that have advised on $300 million in client assets has joined RBC Wealth Management from Morgan Stanley Smith Barney, RBC said in a statement today.
A duo of veteran financial consultants that have advised on $300 million in client assets has joined RBC Wealth Management from Morgan Stanley Smith Barney, RBC said in a statement today.
John Menefee and Tom Meagher, who specialize in managing fixed income and equities, will operate under the title of senior vice presidents/financial consultants and will be based in Bend, Ore. They generated more than $4 million in production at Morgan Stanley Smith Barney, the statement said.
This is the second team in recent months that RBC has recruited from Morgan Stanley Smith Barney, as InvestmentNews noted last year.
In September, RBC recruited Patrick Duff and Vincent Crudo to its New Haven, Conn., office as senior vice presidents and financial consultants. At the time, that duo had $340 million in client assets.
RBC, which now has more than 2,200 financial consultants in the United States, recruited 308 advisers last year and added another 400 advisers through the acquisitions of Ferris Baker Watts Inc. and J.B. Hanauer & Co., said spokeswoman Jonell Lundquist.
Since the start of the fiscal year Nov. 1, RBC has added 10 financial consultants, she said.
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