RBC’s hiring spree continues as it recruited three Wells Fargo advisors who managed about $365 million in client assets, the regional firm said.

Advisors James Carbonell and Matthew Forrey as well as Amy Caffese, senior investment associate, are joining the firm's office in Walnut Creek, California, according to RBC.

The broker-dealer’s recruiting momentum picked up in part due to renewed investments in technology made earlier this year. In August, it poached advisors managing over $1.35 billion from Wells Fargo, Janney Montgomery Scott, Morgan Stanley, and others. The 1,800-advisor brokerage firm added more new hires in the first half of 2017 than all of 2016.

RBC expanded its California operation by adding a $365 million team comprised of advisors James Carbonell and Matthew Forrey and senior investment associate Amy Caffese.
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Raymond James grabbed five multi-million teams in a month. Other firms to see big transitions include Wells Fargo and Ameriprise.

A spokeswoman from Wells Fargo declined to comment on the team’s departure.

Carbonell cited RBC’s resources and a “fierce focus on the client/advisor relationship” as reasons why they made the move. He started his career in 1997 and worked for PNC before joining Wells Fargo. Forrey had been with Wells Fargo since 1998, according to FINRA BrokerCheck records.

“Jim, Matt, and Amy are extremely well-respected industry veterans who are known in the Bay area for helping clients achieve their goals,” said Michael Schipper, director of RBC’s Northern California Complex. He added that RBC is “actively recruiting” more advisors that fit its culture.

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