RBC Snags J.P. Morgan Broker Managing $855 Million in New Jersey
RBC Wealth Management-U.S. on Friday lured a team that managed $855 million in client assets from J.P. Morgan Wealth Management, according to an announcement.
Michael M. Taggart joined RBC in Florham Park, New Jersey, along with support staff Dalia Bubbico, Jerry Azzollini and Ria Taggart. They report to North Jersey Complex Director Steve Ornstein, according to the announcement.
Taggart, who did not respond to a request for comment sent through social media, works with customers who have at least $3 million in assets, according to Forbes, which ranked him sixth on its 2024 best-in-state wealth advisors list.
Taggart started his career in 2000 at Bank of America Private Bank predecessor U.S. Trust and moved to J.P. Morgan in 2018, according to BrokerCheck.
A J.P. Morgan spokesperson declined to comment. J.P. Morgan Advisors, a relatively small segment of the parent bank’s wealth division, includes around 650 brokers, roughly a third of whom joined from First Republic Bank.
J.P. Morgan also on Friday lost one of those former First Republic brokers, Brian P. Nagle, to Citizens Financial Group in Boston. Nagle and his team had managed close to $1 billion in assets, according to Citizens.
RBC continues to aggressively recruit veteran brokers and in May landed two Merrill Lynch teams in Bel Air, Maryland that managed $900 million in combined client assets. Also last month, it hired a former First Republic private banker who oversaw $290 million in client assets in Century City, California.
The Minneapolis-based firm has more than 2,100 financial advisors managing $583 billion in total client assets, according to the announcement.
