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RBC Adds 2 UBS Teams With $900M

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RBC Wealth Management recently welcomed two teams of advisors to its Lincoln, Nebraska, branch from UBS. The teams manage about $900 million in assets, the company said Thursday.

The advisor teams added by RBC are The Burt/Adams Group, which manages $400 million in assets, and Ernst/Stark Group, which manages $500 million in assets. Each specializes in financial planning and asset management for high-net-worth individuals and families. Each of them joined RBC Thursday, an RBC spokesperson said Friday.

The Burt/Adams Group includes: Stephen Burt, senior vice president and financial advisor, with 21 years of industry experience; Brian Adams, senior vice president and financial advisor, with eight years of experience; and Celina Engler, senior client associate.

Burt was with UBS since 2008, according to his report on the Financial Industry Regulatory Authority’s website. Prior to UBS, he was with Morgan Stanley from 2001 to 2008. Adams started his career with UBS in 2012.

The Ernst/Stark Group includes: Gregory Ernst, senior vice president and financial advisor, with 34 years of industry experience; Todd Stark, first vice president and financial advisor, with 17 years of experience; and senior investment associates Marnie O’Brien, Trudy Soper and Amy McGuire.

Ernst was with UBS since 2008. Prior to that, he was with Morgan Stanley from 1995 to 2008. Stark joined UBS in 2010 from Morgan Stanley, where he worked since 2007. O’Brien was with UBS since 2008 after leaving Morgan Stanley, where she started her career in 2000. Soper was with UBS since 2016. Prior to that, she was with Ameriprise 2005 to 2008. McGuire was with UBS since 2009. Before that, she was with Merrill Lynch, where she started her career in 1997.

“RBC’s entrepreneurial culture is the real advantage for our team,” Burt said in the announcement. “The organization has all the capabilities and resources we need to serve our clients, but the focus on creating the best-possible client experience is what ultimately led our decision,” he noted.

“RBC’s local leadership and strong presence in Lincoln, combined with the firm’s advisor-friendly culture, made this the right move for our team and our clients,” according to Ernst.

As RBC continues “expanding in the Lincoln market, we are thrilled to add talented, high-quality teams like the Burt/Adams Group and Ernst/Stark Group,” Tim McEwen, director of RBC Wealth Management’s Lincoln branch, said in a statement. “They are all-around excellent advisors who are known for their client loyalty and integrity, which make them a tremendous addition to our firm.”

RBC Wealth Management has $416 billion in total client assets with more than 2,000 financial advisors operating in 179 locations in 42 states.

— Check out RBC Custody Business Updating Brand, Platform on ThinkAdvisor.