RBC Nabs Wells Fargo Advisors Duo
Financial advisors Joe Ballantyne and Stacy Quiri, along with client associate Mark Marecek, operate as the Ballantyne – Quiri Investment Group and join RBC’s Tucson, Ariz., office. Ballantyne, a 38-year vet of the financial services industry, had been with Wells Fargo Clearing Services since 2003, according to his BrokerCheck profile. Quiri has been in the industry for a decade, the last nine of which she’d spent at Wells Fargo Clearing Services, according to her BrokerCheck profile. RBC’s Tucson office also recently brought on the Langer Wealth Management Group, according to the press release. Langer was previously with UBS, according to the group’s old web page on UBS’s website.
Wells Fargo has been shedding financial advisors since a bogus account scandal shook the company’s banking unit last fall. In October, Ameriprise picked up a $369 million team of advisors from Wells Fargo Clearing Services in Kansas City, Kan. But Wells Fargo Advisors was able to bring on 37 new advisors in the most recent quarter, although the firm still had 3.5% fewer advisors at the end of September compared to the same period a year ago.
Wells Fargo Advisors also recently hired RBC’s former head of product management and strategic initiatives, according to FA-IQ sister publication FundFire. Mary Sumners had left RBC at the end of last year and will now serve as Wells Fargo Advisors’ regional president for the Northern region, the publication writes. She replaces Mary Zimmer, who in August was appointed director of diverse client segments, FundFire writes.
Wells Fargo Advisors has also reshuffled some of its executives, according to the publication. Rob Samson leaves his post as managing director of the Chicago market to take up the position of regional president of the Midwest region, according to FundFire. And Joel Glasco, previously the managing director of the Charlotte market, has been named regional president of the Southern Region, the publication writes. Finally, Dave Altshuler, the former managing director of the Los Angeles and Orange County market, will now serve as director of manager effectiveness for the advisor-led business, according to FundFire.