\n The Nepa\/Susco Team in pttsburgh, Pennsylvania.\n <\/p>\n
\n Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL\n <\/p>\n
RBC Wealth Management has recruited yet another team from UBS, announcing on Thursday that it added an advisor trio overseeing a billion dollar-plus book in Pittsburgh.<\/p>\n
The hire leads a round of advisor moves that also brought a $400 million Morgan Stanley veteran to Wells Fargo Advisors in Florida, and a Cetera advisor that launched her own independent practice with LPL.<\/p>\n
RBC adds $1 billion UBS team in Pittsburgh<\/p>\n
The Nepa\/Susco Team, which reported more than a billion dollars in client assets from UBS, has moved to RBC\u2019s Pittsburgh North branch.<\/p>\n
Raymond Nepa and Jennifer Susco, both managing directors and financial advisors, lead the five-person group. They are joined by Julia Munchel, first vice president and financial advisor; Karen Venneri, senior investment associate; and Max Freed, client associate.<\/p>\n
The team, whose members have a combined 70 years in the industry, works with ultra-high-net-worth and affluent individuals, families and business executives on investments, risk management and estate planning.<\/p>\n
Frank Albanese, director of RBC\u2019s Great Lakes complex, said the firm\u2019s structure won the team over. \u201cWhat stood out to the Nepa\/Susco Team about RBC was the genuine culture of collaboration, having decision-makers close at hand, and the sheer breadth of resources they can tap into for their clients,\u201d he said.<\/p>\n
The Pittsburgh hire adds yet another notch to the record\u00a0of UBS teams decamping to RBC this year. A state-of-the-industry report by Diamond Consultants<\/a> found that as of the first half of this year, RBC was the third-leading destination for advisors leaving UBS, behind Wells Fargo and Morgan Stanley.<\/p>\n Read more:\u00a0Advisor moves: UBS loses $2 billion in teams as RBC and Raymond James move in<\/a><\/p>\n Wells Fargo adds Morgan Stanley veteran in Naples<\/p>\n Eric Smith has joined Wells Fargo Advisors in Naples, Florida, from Morgan Stanley, where he oversaw more than $400 million in client assets.<\/p>\n With more than two decades in the industry including earlier stints at UBS and Merrill, Smith works with high-net-worth individuals and families, business owners, executives and organizations.<\/p>\n Smith joins the Naples branch led by Brian Schoenle. The branch is part of Wells Fargo\u2019s Florida Gulf Coast market, led by Marc Beshany.<\/p>\n The office has become a recruiting hub for the firm in Southwest Florida. Earlier this month it added the $410 million Strong Wealth Management Group<\/a>, and in April it brought on the $466 million DiGiorno Wealth Management Group<\/a>.\u00a0<\/p>\n Ex-Cetera advisor launches Kinetic Wealth with LPL<\/p>\n Kacy Walker has left Cetera to start Kinetic Wealth, an practice affiliated with LPL’s supported independence model.<\/p>\n With a 7 year-long BrokerCheck record, Walker reported serving approximately $300 million across retirement plans and individual wealth management relationships at her previous firm, with\u00a0a client base that includes retirees and business owners.<\/p>\n \u201cEvery relationship starts with listening,\u201d she said in a statement. \u201cBefore we talk about solutions, we want to understand what someone is navigating, where they need guidance and what is happening in their life.<\/p>\n Having built her career in the Fresno, California area, she chose to join LPL Independent Advisor Network, LPL\u2019s supported independence model, which gives advisors hands-on transition support and growth coaching.<\/p>\n \u201cI wanted to sustain our independence and build the firm around what our clients need,\u201d she said.<\/p>\n Kinetic Wealth will offer holistic planning services that run the gamut from budgeting and retirement preparation to investment planning, debt management and estate planning.<\/p>\n