Davita Werry - What matters to you today

The freedom to live the life you want

If you desire greater freedom to focus on what’s really important to you, and the confidence of knowing that your portfolio is in the care of trusted professionals, we invite you to consider Private Investment Management, our premium level of discretionary wealth management.

Busy professionals and executives, travelers, retirees and snowbirds often find that the greater their wealth, the more time they require every day to manage it. If you are responsible for investing for a not-for-profit organization, foundation or endowment, you may also find that the expertise required to make investment decisions according to specific guidelines can be time-consuming and complex.

Whether you need your time to focus on your career, manage the needs of an organization or travel outside of the country for long periods, Private Investment Management may be the right solution for you.

How it works

By delegating your investment management to an accredited portfolio manager, who works within your specific investment preferences, constraints and risk tolerance, you can free yourself from and still be confident that your investment plan is on track. Because your approval is not required for every single transaction, we can make time-sensitive decisions quickly, helping you get closer to your investment objectives and freeing you from the burden of daily portfolio decisions.

A dedicated portfolio manager to serve you

You can be confident in the management of your wealth, because only experienced investment advisors who have met strict industry-wide qualifications for education, assets under management and investment experience are licensed to provide this level of discretionary investment management.

Investment policy statements capture your needs

The Investment Policy Statement is your specific mandate that details all your objectives, goals and constraints in managing your portfolio. You can think of it as the charter or master plan that we create to manage your portfolio.

Essential standards for quality and oversight

Every portfolio we build is based on core asset quality requirements that set the standards for security concentration, industry and sector diversification, market capitalization and credit quality. An additional Portfolio Implementation and Risk Monitoring Group monitors the portfolio for alignment with our investment management guidelines and the preferences, constraints and other unique directives set out in your customized Investment Policy Statement. An additional compliance team ensures that your portfolio meets industry regulations and legal standards. By auditing our work, as well as the portfolios we manage, this team can help provide you with even greater peace of mind.

myGPS^TM - your Goals, Priorities, Solutions

Have you ever wondered what your financial future looks like?

Most in the field of personal finance agree that financial planning is an essential part of keeping your finances on track. For many people, though, a full financial plan can be expensive, time-consuming to prepare, and generate complicated output not appropriate in all situations. Wouldn’t it be nice if there were a simpler way to get a holistic view of your changing wealth management needs and track progress towards meeting your future financial goals?

Wondering what your future looks like? myGPS™ provides an overview of your financial picture and how you are tracking to your short-term and long-term goals.

Introducing RBC Wealth Management’s myGPS™
myGPS™ offers a prioritized view of your financial goals and recommends solutions to help achieve your wealth management needs.

Goals: A wealth planning solution to identify and report on your goals
Priorities: An integrated approach that pulls everything financially important into one place, enabling you to define and prioritize your milestones
Solutions: An advice approach that helps identify opportunities and solutions on how to pursue those opportunities

myGPS™ isn’t a financial plan. Rather, it is a report on things you already know (for example, your income, the equity in your house, the current value of your investments, and your annual taxes and expenses) projected into the future based on a set of assumptions about what may happen in the future (for example, the expected average rate of inflation, your long term goals and how much you intend to spend in retirement).

Learn more about myGPS™ here.

myGPS™ Report: Six key questions you want answered
myGPS™ provides an overview of your financial picture and how you are tracking to your short-term and long-term goals. Helping to provide financial peace of mind, myGPS™ helps answer six key questions that can easily keep you awake at night.

1. What does my current financial situation look like? Current Net Worth & Current Cash Flow – myGPS™ provides consolidated summaries showing your incomes, savings, expenses, investments, real estate and debt – your critical financial information presented in one document.
2. If I live to be 90, will I have sufficient funds to maintain my current and/or desired lifestyle? Projected Net Worth, Projected Income and Distribution & Projected Outflows – Based on the information provided, myGPS™ will project income, savings, taxes, expenses and the value of your assets into the future using a defined set of assumptions.
3. If I die tomorrow, will my family be sufficiently provided for financially? Estate Impact Analysis and Life Insurance Analysis – Anticipating your future financial needs is a difficult task. Anticipating your family’s future financial needs should you or your spouse die unexpectedly, is an even more difficult task. myGPS™ can help you identify any potential financial shortfalls should an unexpected tragedy strike you or your family.
4. How does changing my financial assumptions impact my future financial situation? Retirement Analysis – It’s impossible to know for certain what will happen tomorrow. To provide a financial projection, however, certain assumptions about what will happen in the economy have to be made. But what if some of those assumptions prove to be wrong? What if, for example, you were forced to retire early? Or perhaps you end up spending more in retirement. The myGPS™ Retirement Analysis allows you to independently change the assumptions you have made about the future to see how that change will affect your overall finances.
5. What can I do to ensure my financial goals and priorities become reality? Wealth Management Opportunities – myGPS™ reports the key financial products, solutions and strategies, which are tailored to your financial situation and priorities, helping you to make the most of what you have – both now and in the future.
6. Could my business survive a major change or crisis? Business Owner Opportunities – For business owners, the line between work and life is blurred. Business Owner Opportunities, outline solutions and strategies that can be pursued from the business side or from the personal side of your finances. The opportunities are tailored to your own situation and cover only those topics which apply to you, your business and your family – strategies designed to help keep you in control of your financial future.

Source: RBC Dominion Securities Inc., myGPS - Your Goals, Priorities and Solutions Factsheet

Insurance products are offered through RBC Wealth Management Financial Services Inc. (“RBC WMFS”), a subsidiary of RBC Dominion Securities Inc.* RBC WMFS is licensed as a financial services firm in the province of Quebec. RBC Dominion Securities Inc., RBC WMFS and Royal Bank of Canada are separate corporate entities which are affiliated. *Member-Canadian Investor Protection Fund. RBC Dominion Securities Inc. and RBC WMFS are member companies of RBC Wealth Management, a business segment of Royal Bank of Canada. ® / ™ Trademark(s) of Royal Bank of Canada. Used under licence. © 2020 RBC Dominion Securities Inc. All rights reserved.

Tax planning strategies for high-income earners

Depending on your province of residence, you may be subject to tax at a rate of 50% or higher when your income exceeds a set amount.

Discover several strategies that make for a tax-smart wealth plan.

View transcript

These days it can seem like there's a tax on everything and with Canada's progressive tax system the more income you earn the higher your tax rate.

If you face a high tax burden, you'll be interested in how you can reduce it or at least manage it.

One way is with insurance.

Most people think of insurance for their home, their Auto and life.

But did you know that life insurance can help cover the taxes due when your estate is settled?

What's more there are Insurance based investment strategies that can provide tax free income during your retirement and tax-free benefits to the beneficiaries of your Estate.

Another way is with family income splitting.

Family income splitting involves transferring investment income that would otherwise be taxed at your higher tax rate to family members who are taxed at lower rates.

Here are two additional ways to split income with your family.

One, a family trust which enables you to provide funds for your children or grandchildren’s needs while reducing taxes.

Two, a spousal loan strategy which enables your lower income spouse to earn investment income at their lower tax rate.

Here's some other ways to reduce tax.

If you have an RRSP contribute as much as you can to maximize the tax deferred growth over time.

Also take advantage of the tax free savings account if you haven't done so already to earn tax-free investment income.

Next look at your non-registered savings and how the different types of investments are taxed.

Capital gains and dividends from Canadian corporations received preferential tax treatment while interest income from GICs or bonds is fully taxable at your marginal rate.

Here's a tip - put more of your interest-bearing investments in your registered accounts like your RRSP where they are sheltered from taxes, then put more of your taxed advantage dividend-paying investments into your non registered accounts.

And here's one more tip.

Always make sure you speak with a qualified professional tax advisor to get the right tax advice for you.

This video is provided by RBC Wealth Management for informational purposes only. The comments contained in this video are general in nature, and do not constitute legal, investment, trust, estate, accounting or tax advice. RBC Dominion Securities Inc.*, Royal Trust Corporation of Canada, The Royal Trust Company, RBC PH&N Investment Counsel Inc., RBC Wealth Management Financial Services Inc. are affiliated corporate entities and member companies of RBC Wealth Management, a business segment of Royal Bank of Canada. *Member – Canadian Investor Protection Fund. Please visit www.rbc.com/legal/ for further information on the entities that are member companies of RBC Wealth Management. ®/TM Trademark(s) of Royal Bank of Canada. Used under license. © 2021 Royal Bank of Canada. All rights reserved.

Build your business and personal wealth with expert advice

Owning and operating a successful company commands a lot of time and attention. Every day, you make critical decisions that affect the financial health of your business. So, you know how important it is to have the best possible services and products to help effectively manage your finances — we can help.

Our business owner solutions can be ideal if you need help:

Managing business and personal assets separately but efficiently
Investing, preserving and maximizing surplus cash
Designing a succession plan for a smooth transition
Creating diversified, tax-efficient income with the sale proceeds
Protecting against the sudden loss of a key employee using insurance solutions
Safeguarding personal and business assets from adverse events
Building employee loyalty with employer-sponsored retirement plans

Charitable giving and foundations

View transcript

You’ve likely supported charitable causes in one way or another. But have you ever considered having a more formal philanthropic strategy in place? Perhaps you’d like to educate and get the next generation involved?

If so, your family may want to consider setting up a charitable foundation. This could be a public or private foundation, depending on your needs.

Both options let you make contributions and receive tax receipts. Both will also accept gifts of cash, publicly listed securities, mutual funds and life insurance—some of which have tax benefits associated with them.

The capital in your foundation will be invested in a balanced approach, and grants are disbursed over time to charities you and/or your family are connected to.

With a public foundation—or a “donor-advised fund”—all administration and reporting will be taken care of, giving you the option of being anonymous; whereas, with a private foundation, you are required to be responsible for fund administration and releasing annual reports to the public.

If you’re looking to be actively involved in your philanthropic activities, then a private foundation could be the right option for you. If you want the tax and legacy benefits that a charitable foundation offers—with less administration—then consider a public foundation.

This video is provided by RBC Wealth Management for informational purposes only. The comments contained in this video are general in nature, and do not constitute legal, investment, trust, estate, accounting or tax advice. RBC Dominion Securities Inc.*, Royal Trust Corporation of Canada, The Royal Trust Company, RBC PH&N Investment Counsel Inc., RBC Wealth Management Financial Services Inc. are affiliated corporate entities and member companies of RBC Wealth Management, a business segment of Royal Bank of Canada. *Member – Canadian Investor Protection Fund. Please visit www.rbc.com/legal/ for further information on the entities that are member companies of RBC Wealth Management. ®/TM Trademark(s) of Royal Bank of Canada. Used under license. © 2020 Royal Bank of Canada. All rights reserved.