As part of its global branding strategy, Royal Bank of Canada has changed the brand name of RBC Dain Rauscher, its U.S. wealth management arm, to RBC Wealth Management.
The brand change took effect Monday. The unit oversees a platform with a sales force of nearly 1,800 financial consultants and a network of 161 locations in 39 states, $141 billion of assets under administration, and $130 billion of assets under management as of Dec. 31.
In conjunction with the branding initiative, RBC Wealth Management has introduced a new technology platform and created a U.S. broker-dealer to give clients and employees increased access to the unit's products and services.
In addition to the new brand name, the unit's legal name has been changed to RBC Capital Markets Corp.
Royal Bank announced last month that its RBC Centura Banks Inc. will start using the RBC Bank brand starting next month.
