RBC Wealth Management-U.S. has added the seven-person Focus Wealth Management team to its Palm Beach Gardens, Florida, office, strengthening the firm’s presence in South Florida and its capabilities for high-net-worth and ultra-high-net-worth clients.
The team previously worked at UBS, where it oversaw approximately $1.5 billion in client assets. Its move to RBC Wealth Management provides the group with access to a broader range of wealth-management resources, local leadership and specialized services designed for families with complex financial needs.
Focus Wealth Management is led by James “Trey” Mahoney III and Peter Foley Jr., who join RBC as Managing Directors and Financial Advisors. Justin Warzala, a Certified Financial Planner, joins as Senior Vice President and Financial Advisor.
The team also includes Senior Business Associate Lori DeJesus, Investment Associate Will Garrett, Registered Client Associate Paula Echeverry and Client Associate Thomas Cooper.
Together, the seven professionals combine experience in portfolio management, financial planning and client service. The group works with business owners and high-net-worth and ultra-high-net-worth families seeking coordinated advice across multiple areas of their financial lives.
Focus Wealth Management’s services include investment portfolio construction, long-term wealth planning and strategies designed to help clients preserve and transfer assets across generations. The team also advises business owners preparing for liquidity events, ownership transitions and potential company exits.
These clients often require planning that extends beyond traditional investment management. Their needs may include coordinating wealth-transfer strategies, preparing for the sale of a closely held business, managing concentrated assets and developing long-term plans for families and future generations.
By joining RBC Wealth Management, the team will be able to draw on the firm’s expanding resources for the ultra-high-net-worth market. RBC has continued developing capabilities intended to help advisors serve clients with sophisticated investment, planning and family wealth needs.
The addition also expands RBC Wealth Management’s advisor presence in Palm Beach Gardens, an important wealth-management market in South Florida. The firm said Focus Wealth Management was looking for an organization that offered direct access to local leadership while maintaining a client-first culture.
RBC Wealth Management-U.S. operates 196 offices across 43 states. The firm provides customized wealth planning, investment management, retirement planning and related financial services to individuals, families and businesses.
As part of Royal Bank of Canada, RBC Wealth Management also offers advisors and clients access to the resources and capabilities of one of the world’s largest diversified financial institutions by market capitalization.
KEY QUOTES:
“The Focus Wealth Management group is exactly the kind of team RBC Wealth Management was built for. They were looking for direct access to local leadership and a culture where the client always comes first. That’s precisely what we offer.”
Ken Ross, Florida Complex Director at RBC Wealth Management
