RBC provides banking, wealth management services, insurance, corporate, investment banking and transaction processing services on a global basis.
*Source: Company website
The average financial advisor is in his 50s and mulling retirement. The total number of advisors in the industry has been flat for years and is expected to decline in coming years. These facts are constantly trotted out as proof that a talent crunch is at hand in the industry. But in fact, it may be no big deal....
Merrill Lynch released a new broker recruiting deal a few weeks ago—with two major changes. First, a new hire must now stick around for 14 years instead of nine to get his entire recruiting bonus, and all of the back-end money is now deferred. Second, the firm is now offering recruiting bonuses to fourth quintile advisors....
Like many large Wall Street broker/dealers before it, RBC is sending a message to advisors who are generating below average revenue: Get your numbers up or take a walk. ...
The dizzying industry turmoil of the last few years has induced wirehouses to offer their top producers some of the largest retention packages ever. It was bound to happen, industry insiders say, as these folks had many more questions than answers about their futures—and those of their firms. Still, the deals aren’t necessarily buying advisor loyalty....
Edward Jones topped annual investor satisfaction rankings compiled by J.D. Power and Associates for the second consecutive year, with RBC Wealth Management a close second, according to the study released yesterday. (See how they rated.) Overall investor satisfaction with the dozen companies in the study was markedly higher this year, although the survey also showed that investors increasingly believe that investment firms are more focused on profits than on customer satisfaction....
When the auction rate securities market froze up in February 2008, angry clients blamed their financial advisors; financial advisors blamed their firms. Today, the SEC announced finalized settlements with Bank of America, RBC Capital Markets and Deutsche Bank, “resolving SEC charges that the firms misled investors regarding the liquidity risks associated with auction rate securities (ARS) that they underwrote, marketed or sold,” the SEC said in a statement today....
RBC Dain Rauscher continued its recent streak of acquisitions in February, announcing plans to acquire Ferris, Baker, Watts (FWB), a full-service broker/dealer...
RBC Dain Rauscher is continuing its recent streak of acquisitions, part of an effort by Canadian parent Royal Bank of Canada to build a bigger presence in the lucrative U.S. wealth management market. Dain announced today plans to acquire Ferris, Baker, Watts (FWB), a full-service broker/dealer in Washington D.C....
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