RBC Wealth Management is expanding in the Buckeye State with the addition of an advisory team from Merrill Lynch serving about $525 million that will head a new Toledo branch, the firm says.
The TWDS Group includes Robert Thompson, David Williams, Michael Donahue, Debra Sendelbach and senior investment associate Rawanne Smili, according to RBC.
The practice serves a variety of high-net-worth clients, including physicians, business owners, entrepreneurs, corporate executives, retirees and trade unions, RBC notes. Its addition marks RBC’s second Ohio office, in addition to one in Cleveland.
“Expanding to a second location in Ohio is very exciting for our complex and will help us better serve our clients and increase our reach in the state,” said Frank Albanese, RBC Great Lakes Complex director in a statement.
Thompson, the branch director, cited RBC’s resources and culture.
“Moving to RBC Wealth Management provides us access to global resources, along with a unique, smaller-firm culture,” Thompson said.
On the resources front, RBC is a customer of the wealth management technology platform Addepar, which can model asset classes, currencies and other entities in a client’s portfolio, according to an announcement earlier this week.
“Our full-firm rollout of Addepar is an integral part of our vision to provide a best-in-class technology experience for financial advisors across the entire investment lifecycle — all for the benefit of our clients,” RBC U.S. head of technology Greg Beltzer said at the time.
Thompson previously had been registered with Merrill since 2008, and before that he spent 13 years at UBS, according to BrokerCheck records. He started his industry career at Smith Barney in 1994. Williams first started at Prudential Securities in 1985, before moving to UBS in 1994 and on to Merrill in 2008.
Sendelbach similarly joined Merrill in 2008 after an eight-year stint at UBS, and her financial services career began in 1986 at PaineWebber Incorporated, BrokerCheck shows. Donahue came to Merrill in 2011 after five years at Edward Jones and a decade at UBS, according to his BrokerCheck page. His first registration was with Dean Witter Reynolds in 1992.