Former Dain Rauscher has a new manager in suburban Kansas City as a result. RBC Wealth Management, formerly RBC Dain Rauscher, has pulled in a team from H&R Block Financial Advisors. Team leader Mark Borcherding has been made manager of RBC's office in Leawood, Kan., a suburb of Kansas City.

RBC Wealth Management has had an office in Leawood since 1982.

Ramping up

Borcherding is joined at RBC by his H&R Block colleagues Terry Wood, who is also an advisor, and client associate Jody Brunsvold.

In August 2008, Ameriprise Financial agreed to pay Kansas City-based tax-preparation firm H&R Block $315 million for its financial-planning unit H&R Block Financial Advisors.

Borcherding, who never registered as a broker with Minneapolis-based Amerprise, had been with H&R Block for about five years. Prior to that, he spent eight years at Wachovia Securities and its predecessor Prudential Securities. He started his career as a broker in the Dublin, Ohio, branch of Nationwide's Advsiory Services group.

Minneapolis-based RBC Wealth Management, a subsidiary of Toronto-based Royal Bank of Canada, has said it plans to take advantage of recent turmoil in the financial-service industry to pluck brokers away from wobbly rivals. It has brought in 146 advisors in this calendar year through mid October, up from 89 by the same time in 2007.

At last count, RBC Wealth Management had more than $160 billion in assets under management. -FWR

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