Minneapolis-based RBC Dain Rauscher is now RBC Wealth Management of New York.
The longtime Twin Cities brokerage house, which was acquired by the Royal Bank of Canada back in 2000, said today it had changed its brand name as part of the unit’s merger with RBC Capital Markets of New York.
The combined entity will be based in New York.
“As part of a single broker-dealer sharing the same technology platform as RBC Capital Markets, we will be able to offer our clients seamless access to RBC’s capabilities and increase the range and breadth of the services we are able to provide,” said John Taft, head of RBC U.S. Wealth Management, in a statement.
RBC Wealth Management has 1,800 financial consultants at 161 locations in 39 states. The company manages $130 billion in assets.
The Dain name dates back to 1929 when J.M. Dain & Co. opened in Minneapolis. It’s been known as Dain Rauscher since 1998.
