(Adds RBC’s confirmation)
Feb 9 (Reuters) - Raymond James & Associates, a unit of Raymond James Financial Inc, said it had hired two advisers from Royal Bank of Canada’s wealth management division.
Paul Berman and Joshua Rosenzweig managed about $200 million in client assets at RBC and had about $2.6 million in annual fees and commissions, Raymond James said.
The team, which will operate as 24/7 Investment Group of Raymond James, will be based in Los Angeles.
Berman began his career at Merrill Lynch, Pierce, Fenner & Smith and later worked at Drexel Burnham Lambert, Bear Stearns & Co, Prudential and Wachovia.
Rosenzweig worked at Ameriprise Financial Services before joining Berman at RBC.
RBC confirmed the departure of Berman and Rosenzweig.
Reporting by Neha Dimri in Bengaluru