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RBC, Merrill Tap New Execs: Recruiting Roundup

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RBC Wealth Management named Kristen Kimmell as its new head of Advisor Recruiting & Field Marketing. Kimmell has been with RBC, which has close to 2,000 advisors, for nearly 25 years.

The firm says that “thanks in large part to Kimmell’s advocacy and guidance, the number of [its] female advisors … [in the] U.S. has grown by 23% in the last two years, and the number of women in branch director roles has doubled.”

“Kristen’s out-of-the-box thinking and ability to bring together teams to accomplish goals have been proven time and time again throughout her career at RBC,” according to Michael Armstrong, CEO of RBC Wealth Management-U.S. “There is really no better person for this role and I can’t wait to see just how big of an impact she will have.”

“As an industry, it’s our duty to create a supportive environment for professionals of all backgrounds, and in turn give our clients access to advice from diverse perspectives,” Kimmell said in a statement.

Meanwhile, Merrill Lynch said it appointed Kenneth Correa as the market executive for the Manhattan East market in New York, which includes offices at 75 Rockefeller Center and 560 Lexington Avenue.  

Correa replaces Aanal Shah, who will become Merrill’s market executive for Eastern Pennsylvania. This market is based in Allentown and supports nine associate offices: Wilkes-Barre, Harrisburg, York, Williamsport, Reading, Lancaster, Scranton, Chambersburg and Hagerstown, Maryland.

Correa moved to Merrill from UBS, where he was an executive director and market head of its Metropolitan Market. He started with UBS in 1998. For his part, Shah became market executive for Manhattan East in 2014, after joining Merrill in 1999.

Wells Fargo FiNet Gains Advisors

Crystal Walker, formerly of LPL Financial, moved to NorthShore Financial Strategies, an independent practice working with Wells Fargo Advisors Financial Network in Chattanooga, Tennessee. She has 19 years of industry experience and manages about $200 million in assets in concert with Branch Manager Carrie Turcotte.

Also, Jayson Pocius and Michael Tursi have left PNC to open the independent practice JM Equity Advisors with FiNet in Chicago. The team has over 10 years of industry experience and manages about $74 mllion in client assets.

Wells Fargo FiNet says it has added $11.5 billion in assets from 87 financial advisors in 34 new practices this year — bringing its headcount to 1,311 advisors in 612 practices with $114.5 billion in AUM.

Ameriprise Recruits

Three advisors recently moved to Ameriprise Financial from wirehouse firms with a total of $264 million in assets: Karen Vibe from Morgan Stanley and Edward Walterhouse and Ryan Faris from Merrill Lynch.

Karen Vibe, a certified financial planner in Reno, Nevada, joined Ameriprise’s employee channel from Morgan Stanley with about $89 million. “I wanted a firm that is growing fast and has a great culture of supporting women advisors,” Vibe said in a statement.

Walterhouse and Faris of Grand Blanc, Michigan, moved to Ameriprise’s employee channel from Merrill Lynch. Their practice, which operates under the name Walterhouse-Faris Group, has about $175 million in assets.

Stifel Adds 4

Stifel Financial says it recruited Joshua Glass in Los Angeles from Wells Fargo, where he worked with $350 million of assets. 

“Josh is a dynamic and entrepreneurial advisor who is a perfect cultural fit for Stifel,” according to John Pierce, Stifel’s head of recruitment.

The advisor “is another example of larger producers understanding the value of open architecture without the layers of bureaucracy,” Pierce added.

Other advisors coming to Stifel from wirehouse firms are:

  • Harold “Heshey” Uszerowicz in Roxbury, New Jersey, who previously was with Wells Fargo Advisors, where he was responsible for $117 million;
  • Ron Witter of Newport Beach, California, who was with Morgan Stanley and managed $69 million;
  • Ward Abbey in Lima, Ohio, who was with Wells Fargo Advisors and worked with $50 million in client assets.