RBC Wealth Management added three advisors from UBS in Leawood, Kansas.
Paul DeBey, Chris Cassaday and Jeff Bahnson – each with over 30 years in the business – have managed a combined $262 million in assets under administration and have total yearly fees and commissions of $1.7 million in production.
“RBC Wealth Management is proud to welcome this team to our Leawood office,” said branch manager Mark Borcherding, in a statement. “They are industry professionals who excel at developing long-term relationships with their clients, and providing the best possible wealth management solutions to meet their clients’ goals and needs.”
RBC has $289 billion in total client assets and some 1,800 financial advisors.
Meanwhile, two employee advisors from Wells Fargo have moved to Ameriprise Financial in North Texas: Thomas Hughes of Southlake and Bill Steele of Dallas.
Together, the two have $239 million in assets under management.
“Our team chose Ameriprise Financial for their strength and safety, particularly through periods of change like we’re in now. We wanted to join a growing firm whose core focus is investment planning and management,” Hughes said in a statement.
Raymond James’ News
Raymond James & Associates (RJA) – the traditional employee channel of the firm – has hired Charles Lambert “Bert” White III from Morgan Stanley to lead the South Florida Complex, which includes 13 branches from Jupiter to Key West.
“It’s exciting to have Bert join the Raymond James team in South Florida,” said Patrick O’Connor, Florida regional director for RJA, in a statement. “Bert was a highly regarded complex manager with Smith Barney, then Morgan Stanley and had many, many suitors. So we are delighted he selected Raymond James as the firm with which he can further his career and contribute to our growth in the very competitive South Florida market.”
White has more than 12 years of branch/complex management experience. He started his career in 1993 with J.C. Bradford and later was with Smith Barney. In 2007, he became the Boca Raton West complex manager for Morgan Stanley. As of 2012, he supported 178 advisors with $18 billion in assets under management and $140 million in annual revenue.
“I am thrilled to be joining Raymond James,” said White. “It’s a firm where the culture of putting clients first is apparent and somewhat reminiscent of my early days at Smith Barney.
“I am also looking forward to reuniting with Don d’Adesky and the Americas Group, whom I recruited several years ago, as well as top-ranked advisors such as Margaret Starner, Peter Bermont and Mickey Silverman. I truly see this as my dream job and a real partnership with one of the best firms on the street,” he said.
Captrust, an independent wealth management and retirement plan advisory firm in Raleigh, North Carolina, said Austin, Texas-based InTrust Fiduciary Group, which specializes in institutional retirement consulting, has joined the group.
“Regulatory mandates are evolving within our industry, but InTrust’s fiduciary duty never wavers,” said InTrust President Michael Maresh, in a statement. “Joining Captrust, a firm that shares the same core beliefs and values, provides us with the resources necessary to strengthen and broaden the services we provide for our clients, while continuing our commitment to serve as their advocate and trusted planning partner.”
Captrust has 120 advisors in 35 locations and advises on about $229 billion in client assets.