Royal Bank of Canada has expanded its wealth management offering by purchasing the JP Morgan investment advisor servicing business.

JP Morgan’s unit will be re-branded under RBC Advisor Services in the second quarter of 2010. 

RBC Advisor Services is part of RBC’s US wealth management operation, providing custody and clearing services to third party advisors.

RBC continues to expand into the US as one of several Canadian banks to have weathered the crisis in better shape than some of their US-based counterparts.

RBC Wealth Management has been engaged in an agressive recruitment campaign over the past year, and has hired some 1,100 advisors globally year to date. The firm's US hiring spree has garnered particular attention as close to 300 advisors have defected to the Canadian firm from big name rivals over the last year.