Rbc Capital Markets, LLC (New York)


Rbc Capital Markets, LLC is a large advisory firm based in New York. It manages $118.73 billion of regulatory assets for 293,129 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

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Rbc Capital Markets provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, educational seminars and workshops, and service public & private employee benefit plans, endowment funds, foundations, family trusts & various capital/operating funds. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Rbc Capital Markets: assets under management

The assets under management (AUM) of Rbc Capital Markets, LLC is $118.73 billion. The firm's AUM has grown by 246% since the beginning of its operation, and $500.08 million of the total AUM is attributable to clients outside of the United States.


The firm manages $68.54 billion in discretionary accounts and $50.19 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $346.71 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $525.92 thousand.
Rbc Capital Markets has custody of $108 billion in cash and securities for 134,375 clients in total and acts as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 45% of the total AUM. The second-largest asset type is exchange traded securities, which make up 38% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Rbc Capital Markets, LLC for their services and products based on a percentage of assets under management, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Rbc Capital Markets serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, pooled investment vehicles, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Rbc Capital Markets is individuals with 127,646 clients and $70.79 billion of assets under management. Among the 9 most similar advisory firms, Rbc Capital Markets has the highest percentage of individuals out of all clients.


The amount of regulatory assets under management is $108.86 billion for 136,600 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Rbc Capital Markets also advises several private funds.

Careers at Rbc Capital Markets, LLC

The company employs 7,576 people that are either part- or full-time employees. 24 percent of the employees work as investment advisers or researchers. 2,974 employees are registered as investment adviser representatives with the state securities authorities.

There are 40 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
Steven J Decicco Md, chief financial officer 1 Feb 2008 Other 3240084
Richard Joseph Tavoso Md, head of global arbitrage trading 1 Feb 2008 Other 1957029
V. Troy Maxwell Non employee board member 1 Feb 2008 Other 5497651
Alex Douglas Mr. Mcgregor Non employee board member 1 Feb 2008 Other 4715919
Mary Ellen Zimmer Evp, board member 1 Feb 2008 Other 2455924
Thomas Bryan Donovan Managing director, chief operations officer 1 Feb 2008 Other 860963
Melville George Lewis Non employee board member 1 Feb 2008 Other 5497649
Bryan Kenneth Osmar Non employee board member 1 Feb 2008 Other 5497648
Michael Robert Kavanagh Evp, cao, rbc wealth management & board member 1 Feb 2009 Other 1021014
Mark Allan Standish Chairman of the board 1 Feb 2009 Other 2223303
Howard R Plotkin Md, chief compliance officer 1 Jan 2010 Other 1970722
Richard Troy Chase General counsel 1 Jan 2010 Other 2949113
Joseph Daniel Fleming Sr. vp, chief compliance officer, wealth management 1 Oct 2010 Other 2093776
Rbc Usa Holdco Corporation Direct owner 1 Nov 2010 75% - 100% 20-0563684
John Godfrey Taft President & board member 1 Nov 2010 Other 1007933
Deborah Anne Freer Ceo and coo 1 Nov 2010 Other 2580102
Thomas Steven Sagissor Sr. vp, board member 1 Jan 2011 Other 2429425
Cathleen Bridget Tobin Sr. md, board member 1 Jan 2011 Other 1902086
John Godfrey Taft President, ceo & board member 1 Jan 2011 Other 1007933
Deborah Anne Freer Md, chief operating officer 1 Jan 2011 Other 2580102
John Godfrey Taft President & board member 1 Jun 2011 Other 1007933
Clinton Dale Lively Non employee board member 1 Jun 2011 Other 5952520
Deborah Anne Freer Chief executive officer, chief operating officer & board member 1 Jun 2011 Other 2580102
Matthew Todd Demonte Md, chief operations officer 1 Feb 2014 Other 5004317
Blair Fleming Md, chairman of the board 1 Mar 2014 Other 5704028
Blair Fleming Chief executive officer & chairman of the board 1 Jul 2014 Other 5704028
John J Thurlow Managing director, chief operating officer 1 May 2015 Other 5726613
Kevin Robert Genirs Md, general counsel 1 Oct 2015 Other 5827358
Thomas Steven Sagissor President of rbc wealth management, board member 1 Apr 2016 Other 2429425
Ahmed Kachenoura Md, head global equity linked products 1 Aug 2016 Other 4825331
Brett Lane Thorne Senior vice president, credit risk 1 Aug 2016 Other 2523268
Nadine Ahn Non employee board member 1 Aug 2016 Other 6709312
Derek Arthur Neldner Non employee board member 1 Aug 2016 Other 6709285
Thomas N Murphy Md, head, us cm operations 1 Oct 2016 Other 4519183
John L. Weitzer Md, chief compliance officer, capital markets 1 Nov 2016 Other 4350211
Wendy J Gorman Non employee board member 1 Dec 2016 Other 6296245
Andrew Christopher Small Senior vice president, chief compliance officer, wealth management 1 Mar 2017 Other 3068715
John L. Weitzer Md, chief compliance officer, capital markets 1 Apr 2017 Other 4350211
David Craig Downie Md, chief risk officer, usa 1 Jun 2017 Other 5077914
Eugene James Chiulli Md, chief financial officer 1 Nov 2017 Other 2976702
John Christopher Walmsley Interim general counsel 1 Feb 2018 Other 4226472
Andrew Christopher Small Senior vice president, chief compliance officer, rbc wealth management - us 1 Apr 2018 Other 3068715
Elizabeth Eileen Bailey Md, chief compliance officer, rbc capital markets - us 1 Apr 2018 Other 4154255
John Christopher Walmsley Head of us capital markets law group 1 May 2018 Other 4226472
Matthew Ross Stopnik Co-head, us investment banking & board member 1 Nov 2018 Other 2580834
Andrew Christopher Small Senior vice president, chief compliance officer 1 Nov 2018 Other 3068715
Jonathan Tsun Yin Yu Non-employee board member 1 Jan 2019 Other 7074967
Andrew Christopher Small Svp, chief compliance officer, rbc wealth management - u.s. 1 Feb 2019 Other 3068715
Ryan Joseph Taylor Chief compliance officer, rbc capital markets - u.s. 1 Feb 2019 Other 4570484
Edward Gray Interim principal financial officer 1 Feb 2019 Other 4246881

Indirect Owners

The SEC currently registers 2 indirect owners.

Name Entity Date acquired Ownership Employer ID
Royal Bank Of Canada Ultimate owner 1 Nov 2010 75% - 100% 13-5357855
Rbc Us Group Holdings Llc Direct owner 1 Jun 2018 75% - 100% 36-4903725

Based in New York

The principal office where Rbc Capital Markets, LLC performs its advisory services is located at 3 World Financial Center, New York, NY 10281, which is also the mailing address of the firm. An additional office of the firm is in Washington, DC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-858-7000 or by fax 866-756-5765. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at rbccm.com.