A $6.2 Million Charlotte Truist Team Joins Rockefeller

AdvisorHub reported that Paul Irving, Gavin Shuck, and Brett Schmidt left Truist in Charlotte for Rockefeller on Wednesday, producing $6.2 million on about $1 billion. IAPD reports updated in April still list all three at Truist.

A Charlotte team producing $6.2 million a year at Truist Bank joined Rockefeller Global Family Office on Wednesday, a person familiar with the move told AdvisorHub.

AdvisorHub named the group Piedmont Wealth Partners. The advisors are Paul S. Irving, Gavin Y. Shuck, and Brett T. Schmidt. Support staff are Nichole McKeon and Ben Beeson. AdvisorHub said those names are on the team's Rockefeller website. The source put assets at about $1 billion. The advisors did not respond to AdvisorHub. A Truist spokesperson did not either.

Rockefeller had not posted the hire on its newsroom by Wednesday afternoon. IAPD had not moved either. Reports for Irving (CRD 2909700), Shuck (CRD 2366010), and Schmidt (CRD 6074234) were last updated April 9 and still list Truist Investment Services and Truist Advisory Services as current firms. Truist's own pages still call the three The Piedmont Group of Truist Investment Services in Charlotte.

The team reached Truist through BB&T Securities. Irving has been registered since 1997. His IAPD report shows a few months that year at American Express Financial Advisors, the predecessor of Ameriprise, then First Union Brokerage Services from 1998, Wells Fargo Advisors from 2000 to October 2012, Scott & Stringfellow into January 2013, and BB&T Securities from January 2013 until the February 2021 transfer to Truist. Shuck started at PaineWebber in May 1997, spent a year at First Union, and was at Wells Fargo Advisors from October 2000 until he joined Scott & Stringfellow in October 2012. He registered with BB&T Securities in January 2013 and moved to Truist in the same February 2021 transfer. Schmidt's record is only BB&T and Truist. He passed the Series 7 in June 2012, joined BB&T Investment Services that month, moved to BB&T Securities in January 2018, and has been at Truist since February 2021.

AdvisorHub said the team reports to Kristen Sario. Her Rockefeller biography lists her as regional president for the Southeast in Rockefeller Global Family Office. The firm already has a Charlotte office, at 5605 Carnegie Boulevard. It has not said this team will work there.

Truist lost another book near this size in July. Mark Elliott, Scott Friedman, Darren Dawson, and John Kent left a Palm Beach Gardens practice managing about $1 billion for Merritt Point Wealth Advisors, a Wells Fargo Advisors Financial Network firm. WirehouseHUB reported that move.

The Charlotte addition sits inside a longer hiring run. A person familiar with the move told AdvisorHub that Rockefeller, backed by Viking Global Investors and a mix of family offices, has added 15 teams in six months. Earlier this month AdvisorHub reported two teams with a combined $950 million from Stifel and Morgan Stanley. In August it reported a Morgan Stanley team at $550 million. The same month Rockefeller announced Jones Wealth Partners, a Merrill Lynch group, and said it was opening a Columbus office. AdvisorHub and WealthManagement put that team at about $2 billion. The August 7 release did not include an asset number.

The firm-level figure is on the record. As of June 30, Rockefeller said it was responsible for $224 billion in client assets across Rockefeller Global Family Office, Rockefeller Global Investment Management, and Rockefeller Global Investment Banking.