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Hybrid RIA Lures Away $220M Advisor Duo From RBC

Hybrid RIA Lures Away $220M Advisor Duo From RBC

Washington Wealth Management lured away a $220 million team from RBC Wealth Management on Wednesday. The financial advisor duo will affiliate with the San Diego-based hybrid RIA as a stand-alone practice based in Salt Lake City, Utah.

Craig Martucci and Todd Adam joined Washington Wealth Management as a new stand-alone practice.

Craig Martucci and Todd Adams, who have over 40 years of combined experience, launched Martucci Adams Wealth Advisors with the intention of serving high net worth individuals and their families, as well as businesses. The team managed $220 million in assets at the time of their move and have clients spread throughout the western U.S.

“Our move away from the wirehouse world allows us to provide our clients the advice they need — without being captive to any potentially competing agendas — along with the exceptional service they expect. There was no question that WWM was the ideal partner to help us make this move,” Martucci said in a statement Wednesday.

The freedom and flexibility of WWM’s platform, as well as turnkey support were a major draw for the team, Adams says. “Our clients benefit from the greater level of time and attention we can devote to serving them, while Craig and I are better positioned to control the future of our business,” he said in a statement.

With the addition of Martucci Adams Wealth Advisors, WWM now has over $1 billion in client assets and has recruited nine new advisors since its acquisition by National Financial Partners Corp in March.

“We are on a mission to return this great financial advisory business to its roots of client service and integrity. Craig and Todd are now part of that mission and we couldn’t be any more proud to be working with them,” says Rob Bartenstein, CEO of Washington Wealth Management.

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