RBC Picks Up $213M Advisor From Merrill


RBC Wealth Management recruited advisor Felipe Blanco in Miami, the firm announced Monday.

Blanco joins RBC from Merrill Lynch with $213 million in assets under management. He brings 15 years of industry experience.

“After careful consideration, I made the decision to join RBC Wealth Management in Miami because of the firm’s commitment to growing in the U.S.,” Blanco said in a company press release.

RBC Wealth is a subsidiary of the Royal Bank of Canada, which offers personal and commercial banking, wealth management, investment management and insurance products to institutional, high-net-worth clients, corporations and businesses. It services approximately 16 million clients across 34 countries, including the U.S.

When asked about RBC Wealth’s growth plans for the U.S., spokeswoman Jonell Lundquist said, “RBC Wealth Management has been making critical investments in technology and people to meet the rapidly changing needs of advisors and clients.”

Minneapolis-based RBC Wealth in July announced it revamped its practice management program to offer more advisor centric services to its top producers. In June, the firm partnered with Envestnet to launch new advisor-client software programs.

RBC Wealth Management manages $353 billion in total client assets and has about 1,800 financial advisors in 42 states. RBC Wealth is a division of RBC Capital Markets.


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