RBC Wealth Management Adds $670M Retirement Team in Houston
RBC Wealth Management – U.S. has expanded its footprint in the South Texas market with the addition of the Ellsworth Fair Wealth Management Group, a team managing approximately $670 million in client assets. The group joined RBC from Robert W. Baird & Co., strengthening the Houston Memorial branch in the Texas South Complex.
Led by Financial Advisors Steve Ellsworth and Marcus Fair, the team brings deep expertise in employer-sponsored retirement plans and advisory services. Ellsworth has more than 20 years in financial services, while Fair has bolstered the practice over the past seven years with specialized retirement expertise.
“We are excited to welcome Steve, Marcus, and their team to RBC Wealth Management,” said Terri Edwards, director of the Houston Memorial branch. “Their deep expertise in large-scale retirement plans and employer plan structures will benefit from our capabilities in this area.”
The duo cited RBC’s retirement solutions, advanced banking and lending services, and leadership support as key drivers in their decision to transition.
“I’m excited to join RBC Wealth Management at a time when retirement plan sponsors are seeking greater clarity, scale, and partnership,” Ellsworth said. “RBC’s commitment to retirement solutions and advisor support aligns perfectly with how our team serves clients.”
Fair added that the move enables his team to both maintain a relationship-driven advisory approach and leverage RBC’s institutional consulting resources.
The Houston expansion is part of a broader momentum at RBC Wealth Management. The firm has been actively recruiting experienced advisors, adding roughly 90 advisors in its U.S. wealth unit in the latest fiscal year, with plans for continued hires as part of a multi-year growth strategy.
Most recently, RBC added the Fogarty Hernandez Wealth Management Group, a former UBS team in Los Angeles managing about $660 million, and an advisory team that oversaw about $646 million in client assets at Morgan Stanley.
In late 2025, the firm brought on a $1.1 billion UBS team in Michigan and a $1.2 billion UBS team in Louisiana, part of its strategy to build scale in key regional markets with experienced advisory teams.