RBC Wealth Management recruited a Merrill Lynch team that managed over $230 million in client assets, the firm said.
The team generated $2.2 million in annual revenue, according to RBC.
Advisers David Persin, his son Zach, Ted Simos and Kim Beatty joined RBC's office in Walnut Creek, California, the firm said. Also moving with the team are client service associates Amber Strock and Joan Strom.
The team is stocked with Merrill Lynch veterans.
Simos and Persin began their careers at the wirehouse in 1995 and 1997, respectively. Beatty has been at Merrill since 2009, having previously worked at Bank of America and Smith Barney. Persin's son started his advisory career at Merrill in 2014, per BrokerCheck.
A spokeswoman for Merrill Lynch confirmed the team's departure. The wirehouse recently hired adviser Joel Taylor in Bridgewater, New Jersey. He previously worked at UBS, per BrokerCheck.
RBC currently has approximately 1,800 advisers operating in 40 states, according to the firm. Last month, the firm said it recruited a Morgan Stanley team that oversaw $507 million in client assets. The Frankel Patt Group joined RBC's office in Beverly Hills, California.
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