Client Stories

[Meet Sue and Drew RBC Wealth Management Clients]

[DREW:] Sue and I met at University. I was getting a coffee in the lounge and saw her and just fell in love. Just that simple.

[Drew and his partners recently sold their national network of veterinary hospitals “Calgary North Veterinary Hospital and Emergency Service”]

When the sale of the company came on there's a lot of things that came with that and taxes and creating trusts and things like that that you know aren't really our strength.

[SUE:] You're just relying on what you hear from friends, what you get online and you know, it's difficult because you're always worried you're going to miss something.

[DREW:] We had our goals. They were pretty roughed in goals. We didn't really know exactly how they would be actuated and the team pulled it together and sort of said, “Okay well if you want to do it, here’s the options.”

[VI LIVINIUK:] Drew and Sue sold their Veterinarian Practice.

So that meant that things on the financial front became a little more complicated, and they didn’t really know where to start.

[Vi Liviniuk, CIM, CFP, B.Ed. Vice President, Associate Portfolio Manager. RBC Dominion Securities Inc. RBC Wealth Management]

At that point it was important that would that I bring in all of my financial partners that are specialized in helping clients with different facets of their financial well-being. Whether it's a state planning, tax planning, insurance planning, right down to charitable giving.

[VAN THAI:]

[Van Thai, PFP. Private Banker. RBC Wealth Management]

If you're dealing with the advisor on investment front, and you dealing with me on the personal private banking front, it's just seamless. We are a team.

[Cody Cormier:]

[Cody Cormier, B.B.A. (Finance), LL.B., TEP Vice President, High Net Worth Planning Services RBC Wealth Management]

(Sue and Drew wanted to impart their values and beliefs to their son, but I suggested that they schedule annual family meetings and at that family meeting one of the things they could do is talk about philanthropy and setting up a private endowment fund inside a public foundation would be a good idea, and that endowment fund would generate income annually and it could get directed to the parents’ favorite charity or the son's favorite charity.

[DREW:] To have a fund that's of itself can can make its own wealth and not just be a stagnant donation every year that comes out of your general account. And it's doing quite well so that's also good for our charities.

[SUE:] Whenever we want to make a contribution, we just give them a call and it's all taken care of. We just have to give them the name of the charity and that's it.

[DREW:] It's a rewarding thing to put something together and then have it come through exactly how you envisioned it.

[SUE:] We have this team of people and they know us and they know what we want to do, what our goals are, what our aspirations are and I can’t say enough about it.

[UNKOWN WOMAN SPEAKING]

RBC Wealth Management is Canada's leading Wealth Manager. Our approach brings the best of RBC to you. Our resources solutions and full access to our team of experts, through one single contact, your Wealth Manager.

Simply put, there's wealth in our approach.

[Wealth Management Dominion Securities logo]

[MUSIC PLAYING]

When you talk about legacy, I don't think that it's just after you're gone, what have you left? I think it's how you've lived your life the whole time.

The legacy that I'm the most interested in leaving is the one about having been responsible for what I was given, and doing the best job of making sure that those resources have been used in the best and most efficient and most effective and most impactful way. A part of that part is making sure that we're working with our sons to educate them, and get them ready to take over that part of that legacy.

My role has always been not only to manage their investments, but be a guide, help navigate through many financial choices they have. To do that successfully, it is important for me to be very knowledgeable about who they are, their family histories, their goals, their wishes, and their values. You need a plan that includes insurance, estate planning, business succession, charitable giving. You need other experts to contribute. And that is the role that Arnie, Jamie, and others play.

[MUSIC PLAYING]

As anybody who has children, you want to make sure that you're giving them the best values you can, especially with the responsibility and the challenges that come with large amounts of wealth.

We have tried as best as we can to be intentional parents in all aspects. Life is busy, and sometimes we've been less intentional than others. But in this area, we're trying our best to instill in them some responsibility with money.

We want to think about how we're living our lives now, and what we're being involved in, and the causes that we're supporting.

They're getting to the stage where they're making plans for what they're going to do after high school is over. And so we're working through how to make sure they remain motivated. So that's a bit of a challenge to thread that needle. And so that's something that I'm sure we'll be looking to Harp to give us some insights on as well. It's worth mentioning that Harp has brought us several resources over the years regarding training our boys with becoming good stewards of money.

I think actually when your kids are teenagers, they quite often prefer having other people than their parents give them advice and information. So it's a very good time for us to be bringing people into their lives who can give them advice and to just share some wisdom.

And it changes over time. In a 15-year-old, in a 17-year-old, there's different planning that needs to take place at that stage versus when they're getting involved in relationships. There is another type of planning that you want to look out for, so it's an evolving piece. It isn't just doing and going through a planning process, and now we're done.

So even if tomorrow morning, all is taken away, I'm confident that they'll have learned principles that would help them to avoid problems later in life, just because they've hung around and seen the advice that we've been able to get over these years.

RBC Wealth Management is Canada's leading wealth manager. Our approach brings the best of RBC to you. Our resources, solutions, and full access to our team of experts, through one single contact, your wealth manager. Simply put, there's wealth in our approach.