$640M Former Merrill NJ FA Team Moves to RBC Wealth  

RBC Wealth Management has brought in The Callot Wealth Management Group, a Paramus, NJ-based team with about $640 million in client assets and led by Merrill Lynch veteran David Callot. 

Callot, managing director and financial advisor of the Callot Wealth Management Group, began his career 32 years ago with Merrill Lynch, according to BrokerCheck. He is joined by associate financial advisor T. Chris Braun, investment associate Jon Schulz, senior financial associate Evan Levitsky and senior client associate Patricia Kramer. 

“We feel that RBC Wealth Management is the right place for our team because of its global capabilities and supportive, yet entrepreneurial, culture,” Callot said 

In the U.S., RBC Wealth Management operates as a division of RBC Capital Markets. The firm has $583 billion in total client assets, with more than 2,100 financial advisors operating in 190 locations in 42 states. 

In June, RBC Wealth Management expanded its advisory network to include the Brown-Brinkley Group, a Tysons, VA-based multigenerational financial advisor team from Truist that manages about $915 million in client assets.  

In May, RBC added two advisory teams from Merrill Lynch, the Barnes Group and The Pollard Team, where they managed a combined $900 million in client assets. Both teams will be based in RBC’s Bel Air, MD location. 

Pictured: Callot Wealth Management Group