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We begin by sitting down with our clients, and listening. Its just that complicated. The first thing we emphasis is that even though we will help create a plan for moving forward, everything is part of a process. Our job is to help you get organized and work with your other advisors to ensure that your plan, whatever it may be, is going to work the way you had envisioned it. From selling your business to your kids, to spending winters in Florida on the golf course. Planning is key. Updating that plan as you go along, is even more important.
Together with a team of professional staff, Jay custom builds financial solutions that will structure your wealth in a simple and measurable manner. Why is that important? We have found that clients worry about three three things - Death. Losing Money. Having enough Income. Not necessarily in that order. Our job is to address these primary concerns and make sure your plan addresses each of these issues in a simple and understandable language.
Getting the right investment advice is a key part of managing wealth. But it's just one part of a bigger picture.
That's why you deserve a coordinated wealth management strategy that helps to address the financial concerns at each stage of life, such as:
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Do you ever find yourself asking questions like, how can I manage my family's higher tax burden and lower our taxes? How can I reduce the financial risks facing my family? How can I maximize my after-tax retirement income? How can I leave a greater legacy to my family and charity? If you're asking questions like these, you may have reached a stage in life where your financial affairs have become more complex.
That's where wealth management can help. So, what is wealth management? Wealth management is a term often used synonymously with investment management. But it's actually much more than that. Wealth management goes beyond investment management to look at your overall financial situation. It brings together the different areas of expertise and solutions you need in a single overall wealth plan.
This includes investing, financial planning, tax minimization strategies, retirement planning, business succession planning, wealth protection strategies, and estate planning. Essentially, wealth management looks at everything you need to address your various financial concerns at each stage of your life, from building your wealth for future goals like retirement to converting your wealth into a tax-efficient retirement income to transferring your wealth to the next generation.
One of the most important benefits of wealth management is that it's a coordinated approach. That means that you have one key advisor who links in experts from other areas. For example, RBC wealth advisors each specialize in different areas, such as investment management, financial planning, or private banking. But they work together to make sure their clients have the benefits of all of these different areas of expertise.
And at RBC, each of our wealth advisors also has the support of the RBC wealth management services team. The RBC wealth management services team has over 200 tax, legal, and financial experts all focused on helping RBC advisors manage their clients' wealth.
So what is wealth management? Ultimately, wealth management is really all about helping you make sense of the greater financial complexity you face and giving you greater confidence in your financial future. If you would like to learn more about how you can benefit from wealth management, I invite you to contact your RBC wealth management advisor.