A Morgan Stanley dealer in Seattle left to hitch RBC Wealth Administration in June, however the welcome get together was quick lived as he returned to the wirehouse simply over a month later.
David D. Powell, who had been with Morgan Stanley for 16 years, joined RBC on June 10 and rejoined Morgan Stanley on July 15, in response to registration information.
At Morgan Stanley, Powell had been on the Pacific Wealth Administration Group, which managed $7.eight billion in property, in response to a supply near the workforce. He rejoined the workforce as a part of his return to the wirehouse, the supply mentioned. Not one of the different dozen advisors moved with Powell, in response to registration information and a since-deleted LinkedIn publish from an RBC supervisor asserting Powell’s transfer.
The workforce’s web site lists Powell as a senior vice chairman with the advertising designations of household wealth director and portfolio administration director. The household wealth designation is a “rigorous, invitation solely strategic coaching program that requires in depth research and a sequence of 15 oral and written exams” on matters resembling property planning, philanthropy and behavioral finance, in response to his agency biography.
An RBC spokesperson didn’t return a request for touch upon Powell’s 35-day spherical journey. The dealer additionally didn’t reply to a request for remark despatched via social media.
Powell began his profession as an institutional marketing consultant at a New York broker-dealer in 1990, in response to his BrokerCheck report and agency bio. He spent 20 years in institutional consulting earlier than pivoting to retail wealth administration in 2010 with Morgan Stanley, in response to his biography.