Welcome to Financial Advisor IQ
Follow

Wells Fargo and Baird Advisors Move to this Growing Rival

October 5, 2018

RBC Wealth Management’s hiring spree continues unabated, with the firm picking up several advisors from Wells Fargo and Baird this month, according to ThinkAdvisor.

Michael Foody, who’s been in the financial services industry for more than three decades, joins RBC in Seattle, the publication writes. He previously oversaw around $120 million at Wells Fargo, according to ThinkAdvisor. And in Syracuse, N.Y., RBC has brought on the Buchan Wealth Management Group, led by Grady Buchan, which previously managed around $195 million at Wells Fargo, according to the publication.

In Denver, RBC has recruited Chris Coburn from Robert W.Baird, where he managed around $150 million, ThinkAdvisor writes. Coburn, who’s been in the industry since 1990, is actually returning to RBC, where he had worked from 2005 to 2014 before joining Baird, according to his BrokerCheck profile.

RBC’s aggressive hiring in recent months has brought billions of dollars in assets to the firm. Last month RBC poached a Commonwealth Financial team managing $500 million and several advisors from Merrill Lynch who collectively oversaw $640 million.

(Getty)

RBC nabbed several more Wells Fargo representatives in August who collectively managed $560 million and a UBS team of advisors who generated around $1 million in fees and commissions annually.

In July, RBC picked up another Merrill Lynch team managing $465 million.

By Alex Padalka
  • To read the ThinkAdvisor article cited in this story, click here.