Firm continues growth in U.S., more than doubling size of average advisor in the network.
MINNEAPOLIS, Minn. (September 26, 2014) - RBC Wealth Management, one of the nation’s largest full-service securities firms, recently welcomed two seasoned advisors from Merrill Lynch with a combined $480 million in assets and $5.1 million in production. Jesse Bengtson joined RBC Wealth Management’s Stillwater, Minn. office and Charles “Chip” Pisoni joined the Scottsdale, Ariz. office.
The addition of these two high-producing advisors demonstrates RBC Wealth Management’s growth in the U.S. So far this fiscal year, RBC Wealth Management has recruited 77 new financial advisors with $5.8 billion in assets and close to $50 million in production. Additionally, the average revenue per financial advisor has grown 69% in the past five years.
“RBC Wealth Management has a strong and expanding presence in the U.S.,” said John Taft, CEO of RBC Wealth Management – U.S. “We are driving that growth by attracting high-producing, seasoned financial advisors who are focused on strong client service and asset growth.”
The firm’s assets under administration in the U.S. hit $278 billion in the third quarter of fiscal 2014, an 11 percent increase over the same period last year and up 26 percent from five years ago.
Bengtson joins RBC Wealth Management from Merrill Lynch with 16 years of industry experience and assets under management of more than $230 million and $3.5 million in production. Pisoni joins with 27 years of industry experience and assets of more than $250 million and $1.6 million in production.
Of RBC’s 79,000 employees worldwide, more than 8,000 are in the United States, with approximately 5,000 in RBC Wealth Management – U.S. The firm is the eighth largest full-service wealth manager in the U.S. with over 1900 advisors in 42 states.
About RBC Wealth Management – U.S.
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 more than $278 billion of assets under administration and nearly 2,000 financial advisors operating in 200 locations in 42 states.
For more information, please contact:
Jonell Lundquist, RBC Wealth Management:
612-371-2239 or firstname.lastname@example.org