2 Richardson GMP brokers move to RBC

Brokers David and Craig Stovel are making the move from Richardson GMP to RBC Dominion Securities, reports Financial Post.

The move takes about 2.3% of Richardson GMP’s newly acquired Macquarie Private Wealth assets with it.

How? Richardson GMP acquired $12.9 billion under management when it bought Macquarie last year, reports Financial Post. And sources say the father-son duo, who previously worked at Macquarie, had about $300 million of client assets under management.

Read more.

Also read:

Richardson GMP revenue up 7.5%

IIROC approves RGMP-Macquarie

Macquarie comp structure will challenge Richardson GMP