RBC picked up a Merrill Lynch adviser who oversaw $164 million in client assets, according to the firm.
Greg Lunak, who generated over $1 million in production at Merrill Lynch, joined RBC’s branch office in Stillwater, Minnesota, the regional firm said.
Lunak had been with Merrill Lynch since 2002, according to FINRA BrokerCheck records. He did a 1 year stint at Morgan Stanley before that, BrokerCheck records show.
This same branch recruited another advisor with $154 million AUM from Wells Fargo last October. “We are continuing to attract talented financial advisers to the firm,” said Bill Kohn, director of the Stillwater branch.
A spokeswoman for Merrill Lynch declined to comment on Lunak’s departure. His exit comes after a team of advisers, who generated $230 million in annual revenue, left the wirehouse for RBC in December.
RBC has recently been on a recruiting spree. In the last two months, the firm has grabbed wirehouse advisers and teams from UBS, Morgan Stanley and Wells Fargo.
RBC has $279 billion in total client assets with approximately 1,800 financial advisors operating in 200 locations in 40 states, according to the firm.
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