Location: Baltimore, MD
Industry: Financial services
Years in role: 7
Years at company: 25
Divisional Director, East
LEADERSHIP AND MENTORING: At RBC Wealth Management, Pat Vaughan is known as the coach of the East Division. “You always know where you stand with him — there is no gray area. That is what I admire and respect the most,” says Steven Ornstein, director of RBC Wealth Management’s Florham Park, NJ complex. “I would literally run through a wall for the guy.”
FUN FACT: “I was born and raised in Ireland. Even though I have been in the U.S. for 35 years, I am still an Irish citizen.”
OVERCOMING CHALLENGES: Vaughan led Ferris Baker Watts’ private client group when the company was acquired by RBC Wealth Management in 2008. Along with his team, he had to learn the new structure of RBC, new people, new technology and new resources. What’s more, this change was happening at the peak of the market crisis of 2008, which left both clients and their financial advisors unsettled. To help his team through, Vaughan focused on communication, discussing concerns and talking through new resources.
DRIVING VALUE: Vaughan is focused on recruiting and retaining financial advisors who fit in well with RBC Wealth Management’s culture. In the past year, Vaughan’s division has brought in 26 new advisors, with close to $19 million in production. He has demonstrated that RBC is hiring high-profile recruits from larger firms.