UBS advisor drain continues as RBC lures $1.1B team in New York

RBC Wealth Management has once again demonstrated its appeal to elite advisors from UBS as a nine-person team that reportedly managed $1.1 billion defects to its new branch in Purchase, New York.

The Centennial Wealth Management Group joins from UBS and will now operate under RBC’s Westchester County office, RBC Wealth Management announced Thursday.

The team is led by Glenn Bianco, Michael Daly and George Kanas, all long-tenured advisors with decades of experience in the financial services sector.

Additional team members include advisors Marisa Bianco and Marc Colamaria, as well as senior associates Benjamin Kanas, Deirdre Joyce, Veronica Casanova and Henriette O’Connor. Collectively, the group brings more than 100 years of experience serving high-net-worth clients such as business owners, medical professionals and professional athletes.

Their practice covers investment planning for retirement, education, charitable giving and wealth transfer strategies.

“The Centennial Wealth Management Group, formerly one of UBS’s elite teams, has helped clients through four recessions, a pandemic and several market corrections,” John Moran, New York metro complex director at RBC Wealth Management, said in a statement. “This team is skilled at navigating various aspects of wealth planning, and we are excited they decided to join RBC Wealth Management.”

The move in New York extends a series of billion dollar-plus UBS teams going to RBC, including one $1.1 billion team in Beverly Hills and a larger $1.6 billion Idaho group in the past month alone.

Meanwhile, UBS Wealth Management announced its own advisor and leadership updates as it looks to strengthen its presence in key regional markets.

In California, Belin Robertson has joined UBS as a financial advisor based in the firm’s Irvine office, part of its Pacific Desert Market. He most recently worked at Wilmington Trust and previously held roles at Merrill Lynch and Neuberger Berman.

With more spent more than 25 years in the industry according to the firm – though his BrokerCheck record reflects 15 years of experience – Robertson specializes in complex trust issues and advising clients during liquidity events.

“With his extensive experience in intricate trust issues and advanced financial planning, we are confident that he will be a valuable asset to our firm and our clients in the Pacific Desert Market,” Howard Woo, Irvine market director at UBS, said Thursday.

Also on Thursday, UBS also named Joseph Lombardo as market director for its Florham Park, New Jersey office, expanding his leadership to include oversight of the firm’s Short Hills and Westfield locations. Lombardo has been with UBS for over 20 years in various leadership roles, including heading its leadership and talent development efforts nationwide.

“Joe’s extensive industry experience, strategic mindset and deep commitment to our financial advisors uniquely position him for expanded leadership responsibilities,” said Mara Glassel, Greater New York metro market executive at UBS.