RBC Wealth Management Draws $646M Ex-Morgan Stanley Team 

RBC Wealth Management has added an advsiory team, which oversaw about $646 million in client assets at Morgan Stanley. 

The Thomasco Group, which is led by managing director, financial advisor, and senior portfolio manager Edward Thomasco, has joined RBC’s branch in Palm Beach Gardens, Florida. 

The firm also includes VP and senior business associate Michele Cianfrone and senior financial associate Taylor Boyle, RBC said. 

The Thomasco Group joined RBC because of the firm’s “ultra-high-net worth platform and capabilities,” including its resources, planning associates, and banking and lending specialists, the firm said. 

“The Thomasco Group sought a firm with direct access to local management and a collaborative culture that values their entrepreneurial spirit, with the autonomy and flexibility to serve their clients’ needs,” Ken Ross, RBC’s Florida complex director, said.  “We’re thrilled to support Edward and his team as they continue growing their business.” 

In November, RBC lured New Orleans-based Heller, Stieffel & Noto Wealth Management, which oversaw $1.2 billion in total client assets from UBS Wealth Management in Louisiana. 

In October, the firm also added Bloomfield Hills, MI-based BLS Financial Group, which managed $1.1 billion in client assets from UBS Wealth Management in Michigan. 

RBC Wealth Management, a subsidiary of RBC Capital Markets, has about $259 billion for 477,674 accounts, according to its latest Form ADV updated in December.

Pictured: The Thomasco Group