Tucker Anthony merges with RBC Dain Rauscher

BANGOR – The regional brokerage firms of Tucker Anthony and RBC Dain Rauscher have merged to create the ninth-largest brokerage firm in the United States and Canada. Beginning Monday, the new company will operate under the name RBC Dain Rauscher.

RBC Dain Rauscher Inc. is the Minneapolis-based U.S. broker-dealer subsidiary of RBC Financial Group, Canada’s largest financial institution. RBC Financial Group completed its acquisition of Boston-based Tucker Anthony Sutro in November 2001 and merged it into RBC Dain Rauscher. The combined entity has 2,100 financial consultants, 6,000 employees, and a network of 165 brokerage offices in 39 states.

The Tucker Anthony brokerage offices, including one in Bangor, will begin making changes to reflect the new name Monday.

“Things like new signage and client statements [will be] an important part of marketing the RBC Dain Rauscher brand in our new markets,” said Ben Smith, branch manager in Tucker Anthony’s Bangor office.

“However, our number one promotional tool has always been and continues to be our employees – through their direct contact with clients and involvement in their communities. They’re the ones who can make a lasting impression.”

The number of staffers at the local office will remain the same, but they will have “an expanded platform of wealth management products and services” to offer clients, Smith said.