The move came the same day as an $890 million-asset Merrill team that shifted to UBS in New York
The team, which had $450 million in client assets, moved Friday and is working from an RBC branch in Connecticut.
Led by 20-plus-year industry vets Jerold Doell Jr. and Douglas Kuszak, the four-person team joined RBC in Lincoln.
Four advisors in Portland had spent a combined 73 years with Merrill.
The SEC said the firm misallocated municipal bond offerings to “flippers” at the expense of institutional and retail investors.
Broker, who started at Merrill Lynch in 1994, had been managing $500 million in assets at RBC, according to a source
The father had logged 42 years at Merrill in Illinois, and the son, who ranked as a top next-gen broker on industry lists, had been there for nine.
Kristen Kimmell will lead recruiting for the six-firm independent broker group with a focus on luring breakaway brokers.
Duo had been generating $5.3 million in annual revenue at the time of their move to Wells in January 2020.
Amanda Dolan helped develop and launch a virtual recruiting platform as part of a pandemic response—efforts that will “slingshot us forward as we return to normal,” she said.