Strategic Talent Shifts Across Wealth Management: RBC, DPL, and Prime Capital Bolster Leadership Teams

The wealth management industry is experiencing a notable wave of strategic personnel moves this week, as major firms seek to strengthen their competitive positioning through high-level appointments. From institutional leadership changes at RBC Wealth Management to specialized growth initiatives at DPL Financial Partners and Prime Capital Financial, these moves signal a broader industry effort to attract seasoned expertise in the face of evolving advisor and client needs.

RBC Wealth Management Taps Raymond James Veteran for Texas South Leadership

In a significant leadership acquisition, RBC Wealth Management – U.S. has appointed Shawn Bernhard as the new complex director for the Texas South region. Announced on October 23, the move places Bernhard at the helm of a critical territory, where she will oversee financial advisors across Texas and Louisiana. This appointment is the latest in a series of strategic maneuvers by RBC as it seeks to expand its footprint in the U.S. wealth management market, often successfully targeting talent from major wirehouses like UBS.

Bernhard brings over 25 years of deep industry experience to her new role. She joins RBC from Raymond James, where she most recently served as managing director and branch manager of the firm’s Tucson, Arizona, office. Her background is characterized by a strong track record in operational leadership and market development. Prior to her tenure at Raymond James, Bernhard held several influential leadership positions at UBS Wealth Management, where she was responsible for overseeing major markets in Arizona.

The recruitment of Bernhard follows a high-profile period of expansion for RBC, which has been aggressively courting top-tier advisor teams. By securing leaders with extensive experience at both wirehouse and independent firms, RBC is positioning itself to capture a larger share of the advisory market.

Scott Skinner, RBC’s Mountain South divisional director, highlighted the importance of the hire, emphasizing the firm’s commitment to its advisor-centric philosophy. "She understands that when you empower advisors with the right resources and support, everyone thrives—advisors and clients alike," Skinner noted.

For Bernhard, the decision to join the firm was heavily influenced by RBC’s corporate identity. "What drew me to RBC is the firm’s genuinely collaborative, advisor-centric culture and the way everyone works together to help advisors and their clients reach their goals," she said. Beyond her operational expertise, Bernhard brings a high level of professional accreditation to the region; she holds the Certified Financial Planner (CFP) and Certified Exit Planning Advisor (CEPA) designations. Furthermore, her leadership experience extends to the broader industry, having previously served as chair of the Women’s Wealth Advisors of Arizona, a role that underscores her commitment to professional development and advocacy within the sector.

DPL Financial Partners Expands Executive Suite Amid Strong Asset Growth

As the independent advisory space continues to shift toward fee-based models, Louisville, Kentucky-based DPL Financial Partners is scaling its leadership team to match its rapid growth. The firm, which provides a specialized platform for commission-free annuities, announced it is nearing $7 billion in assets under administration, a milestone that has prompted the creation of two key executive roles: head of experience and head of sales strategy and operations.

Mark Forman has been tapped to serve as head of experience, where he will oversee service delivery for DPL’s member advisors, partners, and the end consumers they serve. Forman brings a wealth of experience in the annuity and insurance technology space, having previously led experience initiatives at Jefferson National, where he worked alongside DPL founder and CEO David Lau. Following his time at Jefferson National, Forman held roles at Nationwide Financial and served as chief marketing officer at RetireOne. His background also includes stints as a fractional CMO and a recent tenure as CMO at Optifino.

Simultaneously, the firm has appointed Kendal Wetzel as head of sales strategy and operations. Wetzel is tasked with overseeing the firm’s sales enablement and operational infrastructure—a function that aligns closely with her previous professional experience. Before joining DPL, she served as a vice president at Jackson National Life Distributors, where she focused on similar sales operations initiatives. Her background also includes a tenure as director of RIA distribution at Allianz Life, giving her a deep understanding of the unique requirements of the Registered Investment Advisor (RIA) channel.

The growth at DPL comes at a time when commission-free annuities are gaining traction among fiduciary advisors. Unlike traditional insurance products, commission-free annuities are designed to eliminate the inherent conflicts of interest associated with sales-based compensation. DPL has been at the forefront of this movement, providing RIAs with essential tools to transition their legacy commission-based books to fee-based arrangements. This includes the development of sophisticated portfolio-level analytics tools specifically built for RIA practice management.

"Mark and Kendal both know the RIA market well and bring expertise tailoring annuity and insurance solutions to its unique needs," CEO David Lau said in a statement regarding the appointments. Wetzel echoed this sentiment, expressing her commitment to building the firm’s capacity. "I’m eager to help build the systems and infrastructure that will support that momentum as advisor and consumer demand increases," she said.

Prime Capital Financial Strengthens Mid-Atlantic Retirement Practice

In the retirement plan consulting sector, Prime Capital Financial is executing a regional growth strategy with the hiring of Ekaterina "Katie" Sheliga as a retirement plan consultant. Based in Overland Park, Kansas, Prime Capital has been in the spotlight this year, particularly following its recapitalization deal with Carlyle’s Global Credit platform earlier this summer, which valued the firm at $1.8 billion.

Sheliga joins the firm with more than 15 years of experience in the financial services and retirement industry. Most recently, she served as sales director of strategic accounts at PCS Retirement, where she was responsible for managing complex relationships with national broker-dealers, RIAs, and major wealth management firms. Her resume also includes leadership roles at the American Retirement Association and The Standard, with the foundations of her career laid at Arthur J. Gallagher & Co.

At Prime Capital, Sheliga’s focus will be on deepening relationships with employers, financial advisors, and centers of influence throughout the Mid-Atlantic region. This appointment is part of a broader push by Prime Capital to elevate its retirement practice, which was bolstered earlier this year by the arrival of Jania Stout. Stout, who joined the firm to lead its retirement practice in 2024, emphasized that Sheliga’s comprehensive background makes her an ideal fit for the firm’s goals.

"She’s worked in consulting, recordkeeping and strategic partnerships, so she understands how the pieces fit together," said Stout, the firm’s president of retirement and wellness. The appointment is expected to provide Prime Capital with a stronger foothold in the Mid-Atlantic, as it seeks to scale its retirement and wellness services to a wider array of employers.

For her part, Sheliga is looking forward to the collaborative nature of the role. "I’m eager to return to working directly with employers and their employees, helping more people build a path toward a retirement they can look forward to," she said. In addition to her professional responsibilities at Prime Capital, Sheliga remains an active voice in the industry, serving as the Northeast regional leader for the We Inspire Promote Network, an organization dedicated to supporting and advancing women within the retirement services industry.

As these three firms integrate their new talent, the appointments highlight a broader trend across wealth management: the pursuit of specialized expertise to navigate an increasingly complex regulatory and competitive landscape. Whether through the leadership of large-scale complexes at RBC, the innovation of fee-based annuity platforms at DPL, or the expansion of retirement consulting at Prime Capital, the industry remains focused on professionalizing service delivery to meet the evolving needs of both advisors and the clients they serve.