Brokers with Tucker Anthony Sutro are nervous about their pending acquisition by Royal Bank, according to the latest issue of Registered Rep.

Last week, Royal Bank announced it would acquire Tucker and roll it into its RBC Dain Rauscher unit. Boston-based Tucker, a full-service firm of 1,000 retail brokers mostly located in the Northeast and West Coast, will take on the RBC Dain Rauscher name.

The firm will remain based in Minneapolis, and Irv Weiser, Dain’s current chairman, president and chief executive officer, will continue at its helm. The combination will create the ninth largest full-service securities firm in the U.S., with nearly 2,100 retail reps.

With Tucker being swallowed up, Registered Rep reports that some of its brokers aren’t pleased. “We’re not happy about losing the name or about the dollar valuation that the firm is going out at,” says one Tucker rep.

“We’re taking a wait-and-see attitude, but we’re disappointed. If you don’t want to work for a wirehouse, Tucker Anthony was a great place to be. Now that culture is gone.” Reps are anxious to see what kind of retention packages are offered, the rep adds.

The merger is subject to approval by Canadian and U.S. regulators and stockholders of Tucker Anthony. It is expected to close in the fall.