Merrill nabs $300M RBC trio in New York

Merrill nabs $300M RBC trio in New York
Ronald Slevin and team produced approximately $2.5 million in annual revenue.
MAR 16, 2015
Bank of America Merrill Lynch has picked up a $300 million RBC Wealth Management U.S. team in New York as Merrill Lynch continues to build out its herd of around 14,100 brokers and advisers. The trio of former RBC advisers, who are led by Ronald Slevin, brought in around $2.5 million in annual revenue last year, according to Bank of America Merrill Lynch spokeswoman Ana Sollitto. Mr. Slevin is joined by advisers George Gladman and Jared Stone, as well as their client associate. They report to Merrill Lynch complex manager Jeffrey L. Tucker, who oversees the firm's Fifth Avenue center. Merrill Lynch has 734 advisers in 10 branches in New York, according to Ms. Sollitto. Mr. Slevin has been in the industry almost four decades. He began his career at J.B. Hanauer & Co. and had been with RBC since 2005, according to records with the Financial Industry Regulatory Authority Inc. The team did not have international clients, according to Ms. Sollitto, and the move was unrelated to other RBC departures in New York and Miami, where some internationally focused advisers have left as the parent company, Royal Bank of Canada, has shut down certain business units in Latin America and the Caribbean. A spokeswoman for RBC, Jonell Lundquist, did not immediately respond to an e-mail seeking comment.

Latest News

Integrated Partners, Kestra welcome multigenerational advisor teams
Integrated Partners, Kestra welcome multigenerational advisor teams

Integrated Partners is adding a mother-son tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.

Trump not planning to fire Powell, market tension eases
Trump not planning to fire Powell, market tension eases

Futures indicate stocks will build on Tuesday's rally.

From stocks and economy to their own finances, consumers are getting gloomier
From stocks and economy to their own finances, consumers are getting gloomier

Cost of living still tops concerns about negative impacts on personal finances

Women share investing strengths, asset preferences in new study
Women share investing strengths, asset preferences in new study

Financial advisors remain vital allies even as DIY investing grows

Trump vows to 'be nice' to China, slash tariffs
Trump vows to 'be nice' to China, slash tariffs

A trade deal would mean significant cut in tariffs but 'it wont be zero'.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.