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RBCÂ Wealth Management Expands With Two Teams From Wells Fargo
The firm has strengthened its presence in Conshohocken, Pennsylvania, and Tysons, Virginia.
RBC Wealth Management in the US has brought in two teams with a combined $801 million in client assets.
The Salon Magura Private Wealth Group, a Conshohocken, Pennsylvania-based practice, is joining from US financial services firm Wells Fargo, bringing more than 90 years of combined experience, the firm said in a statement. The team is led by Rob Salon and Pari Hashemi Magura (pictured), managing directors, financial advisors and senior portfolio managers, with $455 million in client assets.
“Rob and Pari lead a dynamic team who was attracted to the RBC Wealth Management culture, accessibility to management and size of the organization,” said Scott Ceniccola, Philadelphia complex director at RBC Wealth Management – US.
Salon started his career at RBC Wealth Management in the US and moved to Wells in 2012 whilst Hashemi began with Morgan Stanley and also moved to Wells in 2012.
Meanwhile, Bernard Suissa, managing director, financial advisor, based in Tysons, Virginia, is joining from Wells Fargo with $346 million in client assets, RBC WM added.
Suissa was also attracted to RBC Wealth Management for its culture and ability to serve clients in various aspects of wealth planning, including philanthropy and legacy planning. He joined Wells from Morgan Stanley.
“Bernard serves high net worth clients well, and has a talent for guiding them through various complex situations,” said Warren Bischoff, mid-Atlantic complex director at RBC Wealth Management – US.
The firm also recently brought in a team based in Paramus, New Jersey, with about $640 million of client money. See more commentary here.
Founded in 1909, RBC Wealth Management – US is a subsidiary of the Royal Bank of Canada (RBC), supporting the needs of high net worth and institutional clients by providing access to private banking, credit, investment management, asset management and other services. In the US, RBC Wealth Management has $619 billion in total client assets with more than 2,100 financial advisors operating from 191 locations in 42 states.
