RBC Wealth Management recruits $1 billion adviser team from Morgan Stanley
The Evergreen Group joins RBC's office in San Antonio
A team of advisers with about $1 billion of client assets has left Morgan Stanley for RBC’s wealth management business.
The Evergreen Group joined RBC’s office in San Antonio, according to a statement Tuesday from RBC Wealth Management. Most of the five financial advisers and two client associates will operate in the firm’s new Lufkin, Texas, office as well as San Antonio.
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The team, which has produced about $3.6 million annually, includes Phillip Friesen, Chuck Crowson, John Friesen, Greg Bowman and Josh Zeleskey. The two associates are Karen Ronaghan and Bonnie McKinney.
Christine Jockle, a spokeswoman for Morgan Stanley, confirmed the departure of the advisers and declined further comment.
RBC Wealth Management has $284 billion in total client assets and about 1,800 financial advisers in 40 states. Last week, the firm added another adviser in Texas. John McIntyre, who oversees about $100 million in assets, joined RBC Wealth Management in Houston from Wells Fargo & Co., according to the statement.
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