RBC Wealth Management hires UBS team in Pittsburgh that oversaw more than $1B

RBC Wealth Management has hired a UBS advisory team that oversaw more than $1 billion in client assets for its Pittsburgh North, Pa., branch, according to a firm spokesperson. The group, Nepa/Susco, is led by managing directors and financial advisors Raymond Nepa and Jennifer Susco. WealthManagement.com first reported the hire.

Nepa had been with UBS since 1995 and Susco since 2007, according to BrokerCheck. The team also includes Julia Munchel, a first vice president and financial advisor, Karen Venneri, a senior investment associate, and Max Freed, a client associate.

Toronto-based RBC wants to add 600 advisors by 2029, CEO Neil McLaughlin said in a March interview with Wealth Management. Against the roughly 2,200 advisors the firm reports across 195 offices in 43 states, that target works out to about 27% growth on the current base. RBC Wealth operates as a division of RBC Capital Markets.

RBC's latest hire is the second UBS team the firm has added this year, following a group overseeing about $1.5 billion that joined in Palm Beach Gardens, Fla., in July. Before that, the firm announced that a $1.6 billion team from Stifel, Nicolaus & Company had jumped to RBC in Dallas. Across the three, more than $4.1 billion in client assets were overseen at the prior firms.

Wirehouses shed 517 experienced advisors on net in the first half of 2026, with 1,449 departures against 932 recruits, as WealthManagement.com reported from Diamond Consultants' count.