A conversation with Tom Sagissor, President, RBC Wealth Management–U.S.
So how did a bank out of Canada rise to the ranks in the US wealth management space? In this episode, we explore regional firm RBC Wealth Management–U.S. with President Tom Sagissor. Tom shares an insider’s perspective plus why their “Wall Street meets Main Street” culture is attracting some of the industry’s top advisor talent, and much more.
About this episode…
As regional firms keep knocking it out of the park in the race for top talent, we continue our series highlighting the leaders who are at the helm, driving incredible growth and interest amongst advisors.
In this episode, we explore regional firm RBC Wealth Management–U.S. with President Tom Sagissor.
So how did a bank out of Canada rise to the ranks in the US wealth management space?
It all started in 2001 when the Royal Bank of Canada acquired Dain Rauscher, a US firm with a century-old history built through several acquisitions of regional firms across the nation. In 2008, it was rebranded as RBC Wealth Management with headquarters in Minneapolis.
For Tom, his journey with RBC came after a career as a pro hockey player, joining the advisor training program at Dain Bosworth (one of Dain Rasucher’s predecessor firms) in 1994. In the midst of RBC’s acquisition, Tom built a strong advisory practice, winning the firm’s prestigious President’s Council award several times. Then Tom rose up the ranks to assistant branch director in Minneapolis and complex director for Milwaukee.
Yet it was in 2016 when Mike Armstrong joined as CEO of RBC Wealth Management US, bringing with him experience from Jeffries and Morgan Stanley, that kicked the firm into high gear—with Tom elevated to the position of President.
It’s a combination that’s been working for RBC, along with a culture that Tom describes as “Wall Street meets Main Street”—derived from the “quilt” of different firms that were acquired over the years, giving RBC a unique “regional feel” that spreads across the country.
In this episode, Tom takes us through the growth and success the firm has experienced, including:
- The real value of culture—and why RBC’s is resonating so well with advisors leaving the wirehouses.
- The firm’s unique infrastructure comprised of 3 key businesses—and how RBC Wealth Management–U.S., their capital markets business, and the Beverly Hills elite private bank City National each benefit advisors and their clients.
- The advantage of greater freedom and flexibility—and how the firm compares to other regional and boutique firms, as well as the wirehouses and independence.
Ultimately, regional firms like RBC have recognized that advisors want to have greater control over how they grow their businesses and serve their clients. Listen in to learn how this mindset is fueling an evolution in the wealth management industry—and driving growth outside of the wirehouse world.
RBC Wealth Management – U.S.
As president of RBC Wealth Management-U.S., Tom Sagissor plays a critical role in preserving the firm’s strong culture and accelerating its growth as a leading provider of banking and wealth management services to entrepreneurs, professionals and families throughout the United States. He leads the day-to-day operations of the firm’s private client group, which is comprised of approximately 1,800 advisors operating in 40 states.
Following a career in professional hockey, Tom was trained to become an FA for RBC Wealth Management in 1994. As an advisor, he built a successful practice, earning the firm’s prestigious President’s Council status multiple times. He has also served as assistant branch director in Minneapolis and complex director for Milwaukee. Tom was named Complex Director of the Year in 2006.
He serves on the board of directors for the Ronald McDonald House Charities of the Twin Cities, The Herb Brooks Foundation and the Bob Suter Memorial Fund, “It’s All About the Kids.”
Tom graduated with a Bachelor of Arts degree from the University of Wisconsin – Madison and was a member of the 1990 national championship hockey team. He holds the Accredited Investor Fiduciary (AIF) designation as well as the Series 7, 9, 10, 63 and 66 licenses from FINRA.
Tom resides in Stillwater, MN with his wife Tricia and their four boys. He is very active in the Stillwater community and is a strong supporter and active volunteer with the high school sports programs.