The seven-advisor group oversees high-net-worth and ultra-high-net-worth clients, bolstering RBC’s U.S. wealth management growth strategy.
RBC Wealth Management has recruited a seven-person team from UBS managing $1.5 billion in client assets, based in Palm Beach Gardens, Florida. The group, led by managing directors James Mahoney III and Peter Foley Jr., specializes in wealth transfer and exit strategies for business owners and ultra-high-net-worth families.
The team’s move follows RBC’s broader push to expand its ultra-high-net-worth segment capabilities. The bank currently employs over 2,200 advisors in the U.S. and aims to add 600 more by 2029. Earlier this month, RBC also recruited a six-person team from Stifel in Dallas.
RBC Florida Complex Director Ken Ross stated the team sought direct access to local leadership and a client-first culture, aligning with the bank’s growth objectives.