RBC Wealth Management said it recruited a $500 million team from Commonwealth Financial in St. Cloud, Minnesota.
The Schluchter Investment Group includes advisors Wayne Schluchter and Jeffrey Voit, as well as team members Cindy Lanoue-Sauer, Alexander Coulter, Kim Thyen Nies, Terri Hermanson and Janet McConkey, who have worked together for more than two decades.
"After evaluating several high-quality options, our team decided to join RBC Wealth Management because of its client-first culture," according to Schluchter. "In addition, because of the many investments the firm is making in the U.S., we believe it is the best destination to continue to grow our business."
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LPL Financial says Multop Financial has joined its broker-dealer and corporate registered investment advisor platforms. Multop, which was previously affiliated with the Cetera Financial Group, had some $300 million of client brokerage and advisory assets as of August.
The firm is based in Bellingham, Washington, and was founded in 1976 by Air Force veteran Phillip Multop. Today, it includes three advisors, three certified public accountants and a six-member support staff.
"In today's environment, partnering with a steadfast and proven leader such as LPL enables us to support our clients over the long term," according to Multop. "In addition, our firm's philosophy directly echoes that of LPL. We are 100 percent committed to our clients' growth, passionate about their success and are exceedingly proud to be their partner."
"It's a pleasure to welcome Multop Financial to LPL," said Craig Kamis, LPL executive vice president of business development, in a statement. "We are proud to have the opportunity to support their business."
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Stifel Financial says the following advisors, who have a combined asset level of $382 million, are now part of its broker-dealer:
- Eric Conover of Quincy, Illinois, who moved from Wells Fargo Advisors, where he had $183 million in client assets.
- Craig Whitten of Phoenix, who previously worked for UBS and had $71 million in assets.
- John "Barry" Jenkins of Memphis, Tennessee, who earlier was with Wells Fargo Advisors and had $65 million in assets.
- The father-son team of John A. and John P. Banks of Center Point, Pennsylvania, also with Wells Fargo Advisors before the move, where they had $63 million in assets.
"Over the past three weeks, high-quality, entrepreneurial financial advisors have joined Stifel from all four traditional wires, three of our main 'new national' or regional competitors, as well as independent FAs," said John Pierce, Stifel's head of recruitment, in a statement. "The diversity of our hires across firms, geography and gender show that post-DOL, Stifel is a firm that allows the advisor to choose what is best for their clients."
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Ameriprise Financial says Jeffrey Eagle of West Palm Beach, Florida, is now part of its employee channel, after departing from Mora WM Securities. Eagle's team has about $99 million in assets.
"I chose Ameriprise because of its history and strength in the area of financial planning," Eagle said in a statement. "For my tech-savvy clients, the tools here are exciting. And for all my clients, the client support is paramount."
Stephen Orenchuk of Saddle Brook, New Jersey, left Wells Fargo and became part of Ameriprise's employee channel. He worked in the past with some $92 million in assets.
"At Ameriprise we can run our business and work with our clients in a way that helps them achieve their goals," according to Orenchuk.
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