A seven-person team in Princeton, N.J., joined RBC Wealth Management, according to a Tuesday announcement. The team managed $1.6 billion in assets at its previous employer, UBS Wealth Management USA.
Advisors Michael Gara, Bruce Berman, Chad Goerner, and Dustin Illgen, along with three support staff members, join RBC. The team works with institutional clients, multigenerational high-net-worth families and consults on more than $5 billion in retirement plan assets, endowments and foundations.
Gara specializes in the equine industry, and Goerner focuses on ESG and socially responsible investing.
“They are a seasoned team with the insight and skill to manage the complex needs of their clients,” said Scott Ceniccola, director of RBC Wealth Management’s Philadelphia complex.
RBC has $463 billion in client assets managed across 2,000-plus advisors.
This is the second team recently to join RBC from UBS. Last week, The Meridian Group, which managed $900 million in assets in Roanoke, Va., left the wirehouse for RBC. And two weeks ago, the Paulson Holman Gatto Group, which managed $2 billion at Merrill Lynch, joined RBC's Lake Branch, Ill., branch.
