RBC pulls in two advisors managing $550M

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RBC gained two new advisors from Wells Fargo and Merrill Lynch , where they managed a combined $550 million in client assets, according to the firm.

Former Wells Fargo advisor James “Ernie” Koestner has joined RBC’s Dallas branch. He managed $370 million in client assets at his old firm. Koestner logged 19 years at A.G. Edwards before spending the last 12 years at Wells Fargo.

Jericho, New York-based advisor Chris Reilly comes to RBC from Merrill Lynch, where he managed $180 million in client assets. Reilly has 33 years of industry experience, according to FINRA BrokerCheck records, 12 of which he spent at UBS before putting in a decade at Merrill.

“RBC’s reputation for putting clients first was first and foremost in my decision-making, coupled with global resources and world-class fixed-income capabilities of the organization,” Koestner said of his new firm, in a statement.

Reilly chose RBC for its technology platform, small firm culture and banking features offered through City National Bank, according to an email from the firm.

RBC Wealth Management has $379 billion in total client assets with more than 2,000 financial advisors, according to the firm.

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