The team of Richard Schilffarth and Howard Schnoll, known for their pioneering work in separately managed accounts, is joining the Milwaukee office of RBC Dain Rauscher. The two were formerly affiliated with B.C. Ziegler Consulting Services, where they managed $4 billion in assets.
"Dick and Howard clearly represent the best of the best and we are delighted to have them on our platform," says John Taft, president and CEO of Minneapolis-based RBC Dain Rauscher, which includes some 1,650 U.S. financial consultants. Taft says recruiting Schilffarth-Schnoll was possible thanks to RBC Dain's combination of "a small-firm feel and a wealth-management boutique," as well as the capacity of its parent company, the Royal Bank of Canada - the seventh largest bank in North America.
While the Schilffarth-Schnoll team will give a nice boost to RBC Dain's presence in Milwaukee and other parts of eastern Wisconsin, where 60 financial consultants now do business, the two asset managers can also work with the firm to strengthen its overall U.S. wealth-management operations. "We get to look at different ways of serving clients and the best practices within the industry," explains Taft, "and we can adopt to accommodate what we like, in some cases, throughout the system."
"They will help us look at and adopt our practices and platform to take advantage of what they've done for years," Taft says.