{"id":569783,"date":"2026-08-01T04:32:24","date_gmt":"2026-08-01T04:32:24","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/569783\/"},"modified":"2026-08-01T04:32:24","modified_gmt":"2026-08-01T04:32:24","slug":"rbc-snags-1-5b-advisor-team-from-ubs","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/569783\/","title":{"rendered":"RBC Snags $1.5B Advisor Team from UBS"},"content":{"rendered":"

RBC Wealth Management has drawn a seven-person team from UBS to oversee approximately $1.5 billion in client assets.<\/p>\n

Focus Wealth Management, based in Palm Beach Gardens, Fla., has moved to RBC after its most senior member had been with the bank advisory for about 14 years, according to BrokerCheck.<\/p>\n

The team includes managing directors and financial advisors James \u201cTrey\u201d Mahoney III and Peter Foley Jr., as well as Justin Warzala, senior vice president and financial advisor, among other staff. The team, which was not available for an interview, works with business owners and high-net-worth and ultra-high-net-worth families who seek wealth transfer and exit strategies.<\/p>\n

Toronto-based RBC has been working to expand its capabilities for the UHNW segment of the market, according to the announcement.<\/p>\n

\u201cThey were looking for direct access to local leadership and a culture where the client always comes first. That\u2019s precisely what we offer,\u201d RBC Florida Complex Director Ken Ross said in a statement.<\/p>\n

Related:Fidelis Capital on Breaking Away to a ‘Different Path’<\/a><\/p>\n

In an interview with <\/a>Wealth Management<\/a> in March<\/a>, RBC Wealth Management CEO Neil McLaughlin said the firm is working to add 600 advisors by 2029. The bank has most recently said it has more than 2,200 advisors in the U.S. working out of 196 offices across 43 states.<\/p>\n

Earlier this month, RBC announced it had drawn a six-person team<\/a> from Stifel, Nicolaus & Company in Dallas that had been overseeing $1.6 billion in client assets.<\/p>\n

The attrition from Zurich-based UBS comes as its advisor count appears to have dropped year-over-year through June. In an earnings report on Wednesday<\/a>, the bank reported 5,644 advisors in the U.S. as of the end of June, compared to 5,773 in June 2025.<\/p>\n

UBS Group Chief Financial Officer Todd Tuckner said on the wirehouse’s earnings call that the firm is \u201cactively recruiting and investing in teams aligned with our profitability ambitions.\u201d<\/p>\n

He added that \u201cit\u2019s important to note that rotation among financial advisers remains elevated across the industry, given record valuations. But we continue to expect these dynamics to normalize in our book over the course of 2026.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"RBC Wealth Management has drawn a seven-person team from UBS to oversee approximately $1.5 billion in client assets.…\n","protected":false},"author":2,"featured_media":569784,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,268,85,46,266,267],"class_list":["post-569783","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-il","tag-israel","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/569783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=569783"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/569783\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/569784"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=569783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=569783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=569783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}