Beckel brings over 30 years of industry experience to the role
MINNEAPOLIS (Jan. 4, 2022) – RBC Wealth Management – U.S. has appointed Richard Beckel to lead its Practice Management, Teams and Portfolio Efficiency Group.
The Practice Management and Teams group at RBC Wealth Management is designed to help advisors grow their businesses and maximize their potential. The team applies a fully consultative approach to deliver a unique advisor experience that expedites revenue growth, drives efficiency, elevates the client experience, and increases client loyalty.
“Richard’s deep experience helping advisors navigate the challenges and see the potential in their business is an asset to the division that is focused on helping teams reach their maximum potential,” said Ann Senne, Head of Advice and Solutions.
In his new role as Senior Manager, Beckel will lead a team of six consultants focused on driving growth, efficiencies and organizational health in RBC advisor practices. This work has proven to be effective, especially in remote settings. Beckel was previously a senior consultant for the group and comes to the position with more than 30 years of experience.
“Successful financial advisor teams need to be both smart and healthy,” Beckel said. “We focus on building strong teams with a solid foundation of trust where everyone is committed to the work and everyone is committed to achieving results.”
Beckel’s team runs the coaching programs in which RBC Wealth Management advisors can participate. An internal study shows that advisors who participate in portfolio efficiency coaching see more than 1.5 times the asset growth, and those who’ve benefited from team coaching saw two times the production growth this past year.
Beckel coached one practice in the Midwest that was on the brink of dissolving because the business was running the team rather than the team running the business. However, Beckel was able to help them look objectively at the practice, identify their gaps and needs, create a plan, and hold them accountable to achieving incremental change.
“This speaks to the type of coaching and consulting we do and the resources we’ve created to support our advisors,” Beckel said.
In the United States, RBC Wealth Management operates as a division of RBC Capital Markets, LLC. Founded in 1909, RBC Wealth Management 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 $542 billion in total client assets with more than 2,100 financial advisors operating in 182 locations in 42 states.
Hannah Pederson, RBC Wealth Management, 612-371-2365, hannah.pederson@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.