A New Jersey-based advisory team with about $640 million in client assets is moving to RBC Wealth Management from Merrill Lynch.
The Callot Wealth Management Group is led by David Callot, an advisor and managing director with over three decades of industry experience. Callot and his team are based in Paramus, N.J.
Callot said RBC was the right fit “because of its global capabilities and supportive, yet entrepreneurial culture.” According to FINRA and SEC records, Callot joined the industry in 1992 and spent his entire career with Merrill before joining RBC this week.
He’ll be joined by Associate Financial Advisor T. Chris Braun, Investment Associate Jon Schulz, Senior Financial Associate Evan Levitaky and Senior Client Associate Patricia Kramer.
In the past few months, RBC’s nabbed several other teams with significant assets under management, including an $855 million team led by New Jersey-based advisor Michael Taggart. Taggart joined RBC from J.P. Morgan in late May, but before that firm, he spent 10 years at Merrill Lynch.
Earlier that month, RBC added the Maryland-based teams The Barnes Group and the Pollard Team. Both teams came from Merrill and collectively managed about $900 million in assets.
In June, RBC added a Virginia-based team with more than $915 million in managed assets from Truist. The Brown-Brinkley Group works out of RBC’s office in Tysons, Va. It includes co-managing directors Alex Brown and William Brinkley, who have nearly six decades of collective industry experience (Taylor Brinkley, William’s son, is also on board as a financial advisor).
RBC was founded in 1909 and currently has approximately $583 billion in total client assets, as well as more than 2,100 financial advisors at 190 offices throughout 42 states.
