RBC Wealth Management hired a veteran wirehouse team that managed approximately $280 million in assets from Merrill Lynch, the firm said.
Tom Prentice and his wife Tricia, along with fellow team members Young Chung and Stephanie Barsness joined RBC's office in Palm Desert, Calif.
The team is led by an industry veteran: Tom Prentice worked for Merrill Lynch for 36 years before he joined RBC, according to FINRA BrokerCheck records. His wife started her career in 2010 as advisor at Merrill.
Chung, who entered the industry in 1997, worked for Merrill for seven years as portfolio advisor. Barsness worked at Smith Barney and Merrill for about 20 years before she switched to RBC.
Ryan Wilson, director of the firm's Palm Desert office, welcomed the new additions and said that RBC is aiming to ramp up its hiring of large teams.
Earlier this week RBC promoted an ex-wirehouse advisor to branch director of its Oklahoma City office.