A Morgan Stanley team that generated $5.5 million in annual revenue left the wirehouse for RBC, a spokeswoman for the regional firm said.
The advisers are the latest wirehouse recruits to join RBC, which has recently picked up several large teams and solo producers. Earlier this month, RBC hired two UBS brokers who oversaw $272 million in client assets. RBC also lured away a Morgan Stanley branch manager in New York.
The Canadian firm's newest hires operate from two locations: Boston and Century City, California.
In Boston, the team includes advisers Alexander Sugar and Alex Davis as well as Sheila Golden, senior registered client associate, and Annie Tse, senior registered client associate. Graham O’Kelly, Grant DeVaul and Taylor Biehn, as well as Tricia Moses, senior business associate, comprises the team in the Los Angeles area.
The group decided to move because RBC is capable of providing "direct access to necessary resources that are valuable to the families that we serve," Sugar said in a statement.
Sugar, Davis, O'Kelly and DeVaul had been with Morgan since 2008, according to FINRA BrokerCheck records. They previously worked at Bear Stearns.
Biehn started his career at Morgan in 2014, per FINRA BrokerCheck.
The Boston-based advisers are reuniting with RBC complex director Brian Katz, who worked at Morgan Stanley and predecessor firm Smith Barney from 1993 to 2013, according to FINRA BrokerCheck recrods.
Mike Melton, director of RBC's Southern California complex, oversees the firm's office in Century City. Melton also previously worked at the wirehouse until 2013.
A spokeswoman for Morgan Stanley was not available for immediate comment.
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