MINNEAPOLIS, Minnesota (September 26, 2017) – RBC Wealth Management, one of the nation’s largest full-service wealth management firms, is expanding in the Southeast with the establishment of new office in the heart of Miami’s financial district to serve high net worth clients.
“Miami is an important major U.S. market to the firm, as it is one of the most vibrant and fastest growing cities in the U.S. and is also recognized as a major domestic financial center,” said Michael Armstrong, CEO of RBC Wealth Management – U.S. “This new branch reinforces our intention to have a strong presence in South Florida and throughout the Southwest.”
Spearheading the new domestic Miami office is the Gibraltar Group which oversees in excess of $1 billion in assets for ultra-high net worth clients. The Gibraltar Group is led by industry veteran Doug Sharon, who was a Senior Managing Director at Bear Stearns for 20 years, and was the Executive Director of Bear Stearns’ Boston office for over ten years before leaving to join Morgan Stanley in 2008. Joining Doug is his longtime partner and Gibraltar Group Co-Founder Carey Bosch, Managing Director – Financial Advisor, as well as the group’s full- client service team.
“We view this as a major opportunity for our firm and sends a clear message that we intend to use this franchise location and our entrepreneurial platform to continue our growth and attract some of the highest quality financial advisors in the business,” said Tom Sagissor, President of RBC Wealth Management – U.S.
“RBC is global powerhouse with a 150 year heritage, an international footprint and one of the largest balance sheets in North America,” said Sharon. “We required a firm that would provide our clients with the comfort of knowing that the safety of their assets would be a non-issue. RBC Wealth Management offers all of the critical ingredients of a top-tier firm – a solid balance sheet, leading capital markets capabilities, and a supportive and responsive management team.”
Sharon added, “I am confident we are going to build a world class office at the center of one of the most vibrant cities in America.”
The RBC Wealth Management Miami office is located at 801 Brickell Ave., Suite 2100.
In the United States, RBC Wealth Management operates as a division of RBC Capital Markets, LLC. Founded in 1909, RBC Capital Markets, LLC. is a member of the New York Stock Exchange, the Financial Industry Regulatory Authority, the Securities Investor Protection Corporation, and other major securities exchanges. RBC Wealth Management has $310 billion in total client assets with approximately 1,800 financial advisors operating in 200 locations in 40 states.
Jonell Lundquist, RBC Wealth Management612-371-2239, jonell.lundquist@rbc.com
Investment and insurance products offered through RBC Wealth Management are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount invested.