RBC Wealth Management Builds US Talent Pipeline

Tom Burroughes

5 December 2018

RBC Wealth Management-US is sending former interns to the University of Minnesota, the University of St Thomas and the University of St Benedict campuses to build awareness about financial careers, highlighting how some organizations are trying to guard against a potential talent crunch.

The firm’s summer interns collaborated on projects deemed important for RBC and the industry, such as next-generation wealth planning, attracting and retaining diverse and millennial talent, employee recognition, digital planning, emerging technologies and analytics. RBC has built the Student Ambassador program from this process, sending individuals to campus recruiting events, creating advertising, joining on-campus groups, networking with students, and sharing intern experiences.

The program fits alongside moves by RBC and peers to widen the search for talent at a time when there are concerns that as Baby Boomers retire and transfer an estimated $30 trillion to the next generation in coming years, the average age of advisors is rising, creating fears of a talent gap.

“Finance is an exciting industry, but there’s a whole generation entering the workforce that doesn’t know that,” Tom Sagissor, president of RBC Wealth Management-US, said.

“We are constantly adapting to the rapid pace of change brought on by new technology, new kinds of competitors and new clients and employees who view our offerings differently than previous generations. By drawing on the experience of some of our interns, we hope to better attract the next generation to the industry and our business.”