© 2019 SourceMedia. All rights reserved.

RBC recruits $350M advisors from Wells Fargo, Janney

Recruiting momentum is picking up at RBC.

The regional broker-dealer hired three advisors this week who managed $350 million in client assets. That builds on a hiring trend at RBC, which has snapped up more new recruits in the first half of 2017 than all of 2016.

After making renewed investments in its technology earlier this year, the 1,800-advisor brokerage firm is now in "significant growth mode," Tom Sagissor, president of RBC Wealth Management-U.S., told On Wall Street earlier this month.

Gerald Barkley and Bruce Georgi_RBC Capital Markets

Among the firm's new hires, Bruce Georgi and Gerald Barkley joined RBC’s Pittsburgh office from Janney Montgomery Scott. At Janney, they managed nearly $205 million in assets and generated $1.4 million in revenue, according to the firm.

This year has seen more moves, bigger moves and more expensive moves.
July 24

A spokeswoman from Janney could not be reached from comment on the pair’s departure.

Georgi, an industry veteran, started his career in 1985 at Parker/Hunter, which was acquired by Janney in 2005. Barkley had brief stints at Emmett A. Larkin and Tiche Capital before he joined Parker/Hunter in 2004, according FINRA BrokerCheck records.

Separately, Jared Smith jumped to RBC from Wells Fargo Advisors. He managed $145 million in client assets and generated $1.8 million in revenue, the firm says.

Smith started his career at UBS where he worked for four years in 2002, according to FINRA BrokerCheck records.

Joining him at RBC’s Charlotte, North Carolina office is client associate Rick Ruckart, according to the firm.

A Wells Fargo spokeswoman declined to comment on his departure.

Earlier this month, RBC recruited three wirehouse teams who managed almost $1 billion in assets under management, according to company announcements.

For reprint and licensing requests for this article, click here.