RBC Wealth Management has acquired two wealth firms from Janney Montgomery Scott, with combined assets of $570 million, expanding its reach in the Tennessee market. 

MD Wealth Management Group, a Franklin, TN-based investment management firm, brings $370 million in client assets to RBC Wealth. MD Wealth Management offers financial planning, retirement planning, and college planning to families, businesses, pre-retirees, and retirees, according to their website. 

MD Wealth is led by SVP and financial advisor Brad Dickens, VP and financial advisor Jason Minor, and includes senior client associate Colton Wright. Wright was not at MD Wealth when the firm was at Janney. 

At Janney, MD Wealth was supported by the firm’s retirement plan services director Debra Roey, chief fixed income strategists Guy LeBas and Mark Luschini, an RBC spokesperson confirmed to Conney Money.  

In addition to MD Wealth, RBC Wealth acquired JS Wealth Management Group, a Franklin, TN-based investment management firm, bringing $200 million in client assets to RBC Wealth. JS Wealth Management offers estate planning, retirement planning, college planning, investment management, and financial planning to families, businesses, pre-retirees, and retirees, according to their website. 

At Janney, JS Wealth Management functioned as JS Investment Advisors and is led by SVPs and financial advisors Jim Stephens and Jamie Smith, and is supported by senior branch service manager Sheala Smith and senior client associate Ben Davis.

RBC Wealth did not confirm whether Abby Bannon, who was JS Wealth’s registered private client associate at Janney, join the firm’s move to RBC.

At Janney, JS Wealth was also supported by the firm’s chief fixed income strategists Guy LeBas and Mark Luschini. 

Both firms joined RBC Wealth on June 26, an RBC spokesperson said. 

“We are excited to expand the RBC Wealth Management presence in Tennessee with this new office in Franklin, one of the fastest growing cities in the country,” Mark Borcherding, complex director at RBC Wealth Management, said. “Our client-first approach to wealth planning, robust capabilities and a culture that offers easy access to management were big draws for these teams.” 

RBC Wealth has increased its financial advisors in Tennessee by 50% through its offices in the Kansas City Complex, which includes Nashville and Franklin. 

RBC Wealth Management, a subsidiary of RBC Capital Markets, has about $259 billion for 477,674 accounts, according to its latest Form ADV filed in June.