Toronto-based Macquarie Private Wealth has appointed Michael Philbrick and Adam Butler from wealth management firm Richardson GMP, The Wall Street Journal reports. The pair served as financial advisers and portfolio managers at Richardson, where they oversaw $160 million in assets. Philbrick was also serving as director.

The duo focuses on fee-based discretionary type of business from high net worth customers. Butler, who joined Richardson in 2007, and Philbrick also worked as its Toronto branch managers, adds Investment Executive.

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