Two advisers who oversaw more than $300 million left Stifel last week to join RBC Wealth Management, the firm said.
Advisers Darren Lehrman and Brian Marzulli joined RBC in Parsippany, New Jersey. While at Stifel, they generated more than $1.5 million in annual revenue, according to RBC.
The team reports to Steve Ornstein, director of RBC's Florham Park complex.
Ornstein said in a statement that he was thrilled that advisers chose to move to RBC given their industry experience. Both advisers have been in the business for two decades, according to FINRA BrokerCheck records.
Lehrman and Marzulli's work experience includes stints at Wachovia and Prudential, per BrokerCheck. They joined Stifel in 2007.
Lucille Costa, investment associate, also moved with the team to RBC.
A spokesman for St. Louis-based Stifel declined to comment on the team's departure.
RBC recently named Wally Chapman as director of its central region, making the executive responsible for 54 branches and nearly 600 advisers. Chapman had previously overseen the Canadian firm's Minneapolis complex, which consists of 140 employees.
Overall, RBC currently has about 1,800 advisers overseeing $284 billion in client assets, according to the firm.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access