A Merrill Lynch team managing $103 million in assets has left the wirehouse to join RBC Wealth Management.
Advisor Daniel Thompson, senior financial associate Matt Rittenhouse and senior client associate Alyson Frantz joined RBC's Indianapolis office as the Thompson Wealth Management Group. The group reports to Rhys Helt, director of the Indianapolis branch.
While at Merrill, the team generated about $1.2 million in annual production. Thompson had been at Merrill since 2004, according to FINRA records. Rittenhouse had been with the wirehouse since 2007.
This is the second wirehouse recruit that RBC announced this week. The firm picked up Todd Wilson, a Wells Fargo advisor managing $116 million in assets. Wilson is based at RBC's Ft. Lauderdale, Fla., office.
The Canadian-owned firm said in a statement that this year it has recruited more than 80 advisors managing more than $8 billion in assets. In total, RBC has about 2,000 advisors and $278 billion of assets under administration.