RBC Wealth Management has hired several employees in South Florida, adding a Veteran led advisory team managing $646 million in client assets.
The move that matters
The Thomasco Group, based in Palm Beach Gardens, Florida, recently joined RBC from Morgan Stanley, bringing with it a substantial portfolio and deep industry experience. Led by Edward Thomasco, a financial advisor and senior portfolio manager with roughly 30 years of industry experience, the team includes Michele M. Cianfrone, vice president and senior business associate and Taylor J. Boyle, senior financial associate.
Florida Complex Director Ken Ross said the group chose RBC for its “direct access to local management and a collaborative culture that values their entrepreneurial spirit.”
The move reflects broader trends in wealth management recruiting, where firms seek teams capable of deep client relationships, differentiated planning expertise, and the ability to serve ultra-high-net-worth households — particularly in affluent markets such as South Florida.
Why Florida?
South Florida continues to be a focal point for wealth management expansion. Because of population growth in the region, tax-friendly regulations and a steady stream of investment in the region, Florida has become a destination of choice for large brokerage firms, as well as Registered Investment Advisor firms.
After the hiring of a similar group of planners at Morgan Stanley in 2025, the Thomasco Group purchase by RBC certainly helps to strengthen market competition against a backdrop of intense recruitment of top producers by consulting firms. Clients will be able to take advantage of access to the platform for features including sophisticated planning tools, banking and lending specialists, as well as institutional resources which could enable improved multi-generational wealth planning.
The group behind the data
Beginning in the early 1990s and progressing into senior leadership positions prior to joining RBC, Edward Thomasco’s career spans several decades and companies. The Thomasco Group’s client assets, which are close to $650 million, demonstrate the confidence that wealthy people and families in the area have in their counsel and services.
Such teams are not just about scale but also about the quality of relationships and customized planning — elements that matter heavily when advising wealthy clients who often hold complex holdings and multi-jurisdiction financial interests.
Brokerage recruiting & competitive dynamics
The broader wealth management landscape continues to be shaped by talent migration. Companies like Merrill and Cetera have also announced the hiring of seasoned advisors in recent months, demonstrating how talent acquisitions can impact competitive positioning and, consequently, client assets.
For RBC in particular, having another productive team added to its platform reflects its faith in the platform and its commitment to expanding its pool of advisors in key growth markets. This strategy has assumed much importance in current times, when companies have been trying to recruit outstanding consultants to provide them with a competitive edge and organic growth.
What this means for clients and the market
Improved expertise: Their clients will have access to in-house professionals specializing in tax advisory and estate planning, compared to private bankers.
Continuity and Trust: High-performance teams, such as Thomasco Group, have exhibited the ability to retain continuous client relationships, which are easily transitioned to other platforms.
Market Signal: Actions of this type not only underscore the importance of being present and offering tailored assistance when it comes to managing one’s wealth, but also cement Florida’s importance as a prime wealth destination.
In the case of the Thomasco Group’s transfer of $646 million of assets to RBC Wealth Management, it goes beyond the people angle in that there are ongoing shifts in the manner in which wealth management firms compete for talent and customers. Companies that build strong local networks with unique services remain poised for customer satisfaction and business expansion with the continually expanding wealthy population in Florida.
