RBC Wealth Administration has expanded into the state of Louisiana, opening a brand new department in New Orleans with a five-person crew that had been managing over $1.2 billion in consumer belongings for UBS.
The Heller Stieffel & Noto Wealth Administration crew, led by Mark Heller and Diana Dalton Stieffel, joined RBC after being with UBS for over 16 years, in accordance with BrokerCheck.
The workplace is RBC’s first within the state because it seeks to broaden throughout america. The Toronto-based wealth supervisor, a subsidiary of the Royal Financial institution of Canada, now has 195 places of work within the U.S. throughout 43 states.
The Heller Stieffel & Noto Wealth Administration crew consists of three monetary advisors and two assist employees. The agency has consumer relationships in numerous states, not simply Louisiana.
“The Heller Stieffel & Noto Wealth Administration crew is an skilled, highly-respected group with deep roots within the New Orleans neighborhood,” Scott Skinner, RBC’s mountain south divisional director, stated in a press release. “We’re very excited to launch this new department in Louisiana, welcome the crew and assist assist their progress.”
RBC has grown new advisor belongings by way of July 2025 by 67% in comparison with the identical interval final 12 months, whereas the agency’s monetary advisor headcount has grown by greater than 22% since 2020. The agency had 2,200 monetary advisors managing $640 billion in consumer belongings as of April 30, 2025, the newest knowledge accessible.
UBS, which has its headquarters in Zurich and Basel, Switzerland, has been fighting a decline in advisor headcount following the restructuring of its compensation setup in late 2024, which favored the highest-producing crew members over the complete group.
CFO Todd Tuckner acknowledged through the agency’s third-quarter earnings name that the agency expects attrition to average, pushed by a pipeline of newcomers and a brand new program designed to retain advisors by way of retirement.
