Wells Fargo Adds $1.7B Team From RBC
A Greenwich, Conn.-based team with more than $1.7 billion in client assets is joining Wells Fargo Advisors from RBC Capital Markets, the wirehouse announced Tuesday.
The Sheresky Samsen Group of Wells Fargo Advisors includes managing directors of investments Steven Sheresky and his brother Jeffrey and Jeffrey Samsen. Additionally, Steven’s son, Kenneth Sheresky, is on board as a senior vice president of investments.
The firm joined Wells Fargo from RBC on Monday, and senior registered client associates Jeannine Barlotta and Stanley Week accompanied the advisors.
According to SEC records, Steven and Jeffrey Sheresky first entered the industry in 1985 at J.P. Morgan Securities, spending about 27 years with the firm before switching to Morgan Stanley in 2013 and then to RBC in 2020.
Samsen mirrored this trajectory almost identically, having joined JPMorgan in 1986, while Kenneth joined the family business in 2017 with Morgan Stanley before moving to RBC (and now to Wells Fargo).
According to Anthony Arico, the metro north market leader for Wells Fargo Advisors, the Sheresky/Samsen team was “an excellent addition” to the firm’s Metro North market.
“They’ve built their business around deep client relationships and thoughtful, long-term planning,” Arico said. “Our platform combines sophisticated technology with a high-touch, client-centric experience, and we’re excited to welcome them as they tap into our on-the-ground resources for their next phase of growth.”
The team’s move is the latest chapter in a busy couple of months for Wells Fargo Advisors recruiters. In May, the firm added a Morgan Stanley team managing about $5.9 billion in client assets, while attracting another $1.5 billion Morgan Stanley team and a $1.6 billion group from UBS the following week.
The recruitments followed the wirehouse’s move to open the headquarters of its national wealth division in West Palm Beach, Fla., while paying out 11% more in expenses, largely due to higher revenue-related compensation for wealth advisors, according to the most recent earnings report from the firm.
In the same month, the wirehouse launched Advisor Gateway, a desktop technology platform that offers advisors one-click access to over 200 tools and applications, including Wells’ proprietary systems and third-party software. Wells made the new tool available to all channels of its Wealth and Investment Management division, including independent advisors in the Wells Fargo Advisors Financial Network.
