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RBC Picks Up $855M Team From J.P. Morgan

The team, led by veteran advisor Michael Taggart, will join RBC's Florham Park, N.J. office.

RBC Wealth Management has recruited a team in Florham Park, N.J. managing $855 million in client assets. The team, led by veteran advisor Michael Taggart, joins from J.P. Morgan.

The Taggart Group includes Senior Business Associate Dalia Bubbico, Senior Financial Associate Jerry Azzollini, and Senior Registered Client Associate Ria Taggart.

Michael Taggart, who will serve as a managing director and financial advisor at RBC, has been in the industry for over 35 years. Prior to his team’s stint at J.P. Morgan, he was with Merrill Lynch for 10 years. In a statement, he said the move to RBC will allow him to access the firm’s resources and improve the client experience.

This follows news earlier this month that RBC added two veteran advisor teams to its Bel Air, Md. office, the Barnes Group and the Pollard Team. Both teams moved from Merrill Lynch and managed about $900 million in combined assets.

RBC has benefitted from the fallout of First Republic Bank, which was purchased by J.P. Morgan last year, picking up several former First Republic teams. The Taggart Group, however, was not with First Republic.

In the run-up to First Republic’s collapse, RBC nabbed multiple teams, including Mark Nickel and Michael Cox, who collectively managed about $452 million in assets. They left First Republic in early May 2023 to form The Nickel Cox Group at RBC. 

One month earlier, RBC snagged a $1 billion AUM team from the beleaguered bank, one of several First Republic-to-RBC moves that month.

RBC currently has $583 billion in client assets across more than 2,100 advisors in 190 locations in 42 states.

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