Another Merrill Lynch Advisor Heads to RBC
Felipe Blanco, who’s been in the financial services industry for 15 years, previously managed around $213 million at Merrill Lynch in Miami, RBC says. In making the move, Blanco opted for RBC because of its “commitment to growing in the U.S., as well as its commitment to helping me grow my business,” he says in the press release.
RBC Wealth Management, which operates as a division of RBC Capital Markets in the U.S., was operating as Dain Rauscher in 2001, when it was acquired by the Royal Bank of Canada, according to the company’s website.
RBC Wealth now has $353 billion in assets overseen by 1,800 financial advisors working in 200 offices across 42 U.S. states, according to the firm.
RBC has been scooping up Merrill Lynch’s advisors in recent months. Last week, RBC lured a team managing around $426 million at Merrill Lynch, and in July, it picked up a team of Merrill Lynch representatives overseeing $465 million.