RBC Snags $1.5B Advisor Team from UBS

RBC Wealth Management continues its expansion strategy by recruiting a seven-person team from UBS. This South Florida-based group, known as Focus Wealth Management, brings approximately $1.5 billion in client assets to the firm. The team is based in Palm Beach Gardens and specializes in serving business owners, high-net-worth families, and ultra-high-net-worth households with wealth transfer and exit planning.

RBC Florida Complex Director Ken Ross noted that the team sought direct access to local leadership and a client-focused culture. This move aligns with RBC’s broader growth objectives in the United States. CEO Neil McLaughlin previously stated the firm aims to add 600 advisors to its ranks by 2029. Currently, RBC operates with more than 2,200 advisors across 196 U.S. offices.

This shift occurs against a backdrop of declining advisor counts at UBS. In its recent earnings report, the firm disclosed 5,644 U.S. advisors as of June 2026, down from 5,773 the prior year. UBS leadership has acknowledged that advisor rotation across the industry remains elevated due to current market valuations but anticipates these figures will normalize as the year progresses.