The Gounaris Bachmann Group, which previously managed around $426 million at Merrill Lynch, primarily for high-net-worth business owners and professionals, has joined RBC’s Baltimore branch, according to a press release from RBC.
The team includes financial advisors Daniel Gounaris, a 29-year veteran of the financial services industry, and Daniel Bachmann, who’s been in the industry for 19 years, as well as senior registered client associate Denise Fiamingo and client associate Melinda Wise, RBC says.
“After careful thought and consideration, we made the decision to join RBC Wealth Management because of its smaller-firm culture, coupled with access to the global resources of RBC,” Gounaris says in the press release. “The firm also has a strong reputation of always acting in the best interests of clients, which is important to us as we continue to build wealth management strategies designed to meet our clients’ needs and goals.”
RBC has picked up several advisors from Merrill Lynch over the past few months. In December, it added a team of advisors in California who previously managed around $300 million at Merrill Lynch. The wirehouse also lost a $246 million team of advisors in Denver to RBC in October.
RBC’s wealth management business overall now has more than 2,000 financial advisors overseeing $389 billion from 170 locations in 42 states, the company says.