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Industry Spotlight > Women in Wealth

RBC Wealth Grabs Rival’s Top Recruiter

By Janet Levaux

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RBC U.S. Wealth Management says it hired Michael Parker is the firm’s new head of advisor recruiting. Formerly with HighTower Advisors, Parker was tapped Monday to propel RBC Wealth’s recent hiring drive in the U.S. “to the next level,” the firm says.

“We are just wrapping up one of our best recruiting years on record,” said Tom Sagissor, president of RBC U.S. Wealth Management, in a statement. “With a skilled business development executive like Michael Parker leading the charge, we will build on that momentum.”

RBC Wealth has $310 billion in total client assets and some 1,800 financial advisors in 200 locations in 40 states. Last week, Swinn Toll Wealth Management Group joined RBC’s Las Vegas branch from Merrill Lynch, where advisors Cason Swinn, Daniel Toll and Tahirih Toll managed $350 million in assets.

At HighTower Advisors, Parker served as executive vice president and chief development officer. He focused on revenue growth and helped lead the firm to a Top 5 industry ranking in recruiting results, according to RBC, as well as strong organic growth. He also worked on HighTower’s award-winning practice management platform.

“RBC U.S. Wealth Management is a firm with a stellar reputation and enormous potential for growth,” Parker said, in a statement. “No other firm has been able to combine a boutique feel within an established, global financial institution without infringing on financial advisor autonomy, flexibility and choice.”

Other new executives at RBC include Sean Kellenberger, head of Marketing; Amit Sahasrabudhe, head of Strategy & Technology; Ann Senne, head of Advice & Solutions; Angie O’Leary, head of Wealth Planning; and Bryan Mullin, head of Alternative Investments.

“Over the past year we’ve made numerous investments in technology and people, all with the goal of strengthening the advisor-client relationship,” said Michael Armstrong, CEO of RBC U.S. Wealth Management, in a statement. “That story of growth is resonating with some of the top talent in the industry.”

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