RBC Hires Wells Fargo Brothers with $460-Mln Book in Massachusetts
RBC Wealth Management-U.S. has hired a team of brothers who had been managing $460 million in client assets at Wells Fargo Advisors in Wellesley, Massachusetts, according to an announcement.
“The Wellesley branch has grown consistently over the past five years as we’ve continued to attract talented, high-quality teams like the Heald Wealth Management Group to the firm,” David Milowe, a producing manager of RBC’s Wellesley branch, said in a statement.
The Wellesley branch includes 15 advisors managing around $1.8 billion in client assets, according to an RBC spokeswoman.
Timothy Heald first registered as a broker with Putnam Retail Management in 2004 but was not registered between 2005 and 2008, when he joined Wells Fargo, according to BrokerCheck.
Andrew started at Putnam in 1997 and also was not registered for three years between 2005 and 2008 when he signed on with Wells predecessor A.G. Edwards & Sons, according to the database.
Neither could immediately be reached for comment, and a spokeswoman declined to comment on the team’s production. Milowe, who joined RBC from Wells predecessor Wachovia Securities in 2009, according to BrokerCheck, did not return a call for additional comment.
Minneapolis-based RBC has been an aggressive recruiter in recent years and last week added a Merrill Lynch team with $2 billion in assets in the Chicago suburbs.