A team of six has moved to the RBC Wealth Management branch in Philadelphia having managed $450 million in client assets at Morgan Stanley.
The DeCaro Eisenberg Wealth Management Group comprises four financial advisors and two client associates and follows several big value defections in recent months including another team from the wirehouse in Syracuse, New York.
The Canadian-headquartered wealth management firm has picked up teams with a combined $7.6 billion from UBS and a team from Wells Fargo, but lost a $900 million team who recently switched to LPL Financial. The firm has $544 billion in total client assets with more than 2,100 financial advisors operating in 190 locations in 42 states.
The new team joining in Philadelphia include managing director and financial advisor Roy DeCaro,
Financial advisors and vice presidents Max Eisenberg and Sean McFadden, associate financial advisor
Appalonia Tankersley, and senior registered client associates Ann Marie Ade and Chelsea Wise.
“We are very excited to have the DeCaro Eisenberg team join RBC Wealth Management,” said Scott Ceniccola, RBC Wealth Management’s Philadelphia Complex Director. “The team’s industry experience and dedication to their clients will be a great addition to our business and elevate the firm’s expertise, client offerings and presence in the Philadelphia market.”
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income