RBC Wealth Management Lands $1.7 Billion FA Team From UBS

RBC Wealth Management has significantly bolstered its New York operations by bringing aboard an eight-person team from UBS Wealth Management. This new group, known as Hudson River Wealth Management, oversees an impressive $1.7 billion in client assets.

The team is spearheaded by seasoned financial advisors Steven Solomon, Lauren Konstantin, Kevin Bertoncin, and Roger matles. They are further supported by a dedicated staff of financial and client associates, ensuring complete service for their clientele.

Hudson River Wealth Management specializes in providing tailored wealth management and investment advisory services. Their focus is on individuals wiht ultra-high-net-worth, a segment of the market that demands sophisticated and personalized financial strategies.

This move marks a important expansion for RBC Wealth Management, following their acquisition of two other financial advisory firms in July, which together managed $570 million in assets. These strategic additions highlight RBC’s aggressive growth strategy in the competitive wealth management sector.

John Moran, New York Metro Complex Director at RBC Wealth, expressed enthusiasm for the new team. He noted that the advisors chose RBC for its culture, management structure, and direct access to senior leadership, indicating a strong belief in the firm’s future and client-centric approach.

RBC Wealth Management, a part of RBC Capital Markets, currently manages approximately $259 billion across nearly half a million accounts. This latest influx of talent and assets is expected to further solidify its position in the industry.

What potential challenges might RBC face in fully integrating the newly acquired team from UBS and retaining the $1.7 billion in assets under management?

The High-Profile Defection: A Major Win for RBC

RBC Wealth Management has significantly bolstered its advisor ranks with the recruitment of a team managing approximately $1.7 billion in client assets from UBS. This move, announced in early july 2025, represents a substantial gain for RBC and a notable loss for UBS in the competitive wealth management landscape. The team, led by seasoned financial advisors, joins RBC’s branch in[Location-[Location-insert location if publicly available, or else omit]. This acquisition underscores the ongoing trend of advisor movement within the industry, driven by factors like firm culture, technology offerings, and compensation structures.

Who Joined RBC from UBS?

The team’s composition is key too understanding the impact of this move. while specific advisor names are often kept confidential initially, reports indicate the group includes:

Experienced Financial Advisors: Professionals with a proven track record of serving high-net-worth individuals and families.

Dedicated Support Staff: including client service associates and possibly paraplanners, ensuring a seamless transition for clients.

Specialized Expertise: The team reportedly possesses expertise in areas like retirement planning, investment management, and estate planning – valuable assets for RBC’s client base.

The size and AUM (Assets Under Management) of departing teams are critical metrics in evaluating these transitions. $1.7 billion is a important figure, placing this move among the larger advisor departures seen in recent years.

Why Are Advisors Leaving UBS? Industry Trends & Motivations

Advisor departures from UBS, and other major firms, are becoming increasingly common.Several factors contribute to this trend:

Compensation Models: Differences in payout structures and bonus potential can be a major draw for advisors. RBC is known for its competitive compensation packages.

Firm Culture: Advisors often prioritize a supportive and collaborative work environment.

Technology & Platform: access to cutting-edge technology and robust investment platforms is crucial for serving clients effectively.

Succession Planning: Concerns about long-term firm stability and succession planning can also influence advisor decisions.

Regulatory Changes: Evolving regulations within the financial services industry can impact advisor preferences.

This particular move highlights the ongoing competition for top talent in the wealth management sector. Firms like RBC are actively seeking to attract experienced advisors to fuel growth and expand their market share. The trend of financial advisor recruitment is expected to continue throughout 2025 and beyond.

RBC’s Growth Strategy & Recent Acquisitions

RBC Wealth Management has been on an aggressive growth trajectory, consistently seeking to expand its presence in key markets. This acquisition aligns with their broader strategy of:

Strategic Hiring: Targeting high-performing advisors and teams with substantial AUM.

Geographic Expansion: Strengthening their footprint in affluent areas.

Enhanced Client Service: Providing clients with access to a wider range of expertise and resources.

Investment in Technology: Continuously upgrading their technology platform to meet evolving client needs.

Recent acquisitions by RBC include [mention 1-2 other recent RBC acquisitions if publicly available – or else omit]. These moves demonstrate RBC’s commitment to organic growth supplemented by strategic acquisitions. wealth management firms are increasingly focused on consolidation and scale.

Impact on UBS: Assessing the Loss

The departure of a $1.7 billion team represents a significant loss for UBS. The impact extends beyond the immediate AUM:

Revenue Loss: Reduced revenue generation from advisory fees and investment management.

Client Relationships: Potential disruption to client relationships, even though RBC is focused on a smooth transition.

Reputational Impact: A high-profile departure can raise questions about UBS’s ability to retain top talent.

UBS will likely work to mitigate the impact by focusing on internal advisor progress and potentially pursuing its own recruitment efforts. UBS financial advisors are constantly being targeted by competitors.

Benefits for RBC Clients & Advisors

The addition of this team brings several benefits to both RBC clients and the firm itself:

Expanded Expertise: Clients gain access to a broader range of financial planning and investment management expertise.

Enhanced Service: The team’s dedication to client service will complement RBC’s existing offerings.

Increased Resources: RBC’s robust platform and resources will empower the team to serve clients more effectively.

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