Jeffrey Smithson - Who we work with

Challenges

Client in her early 50s sold her successful business
$6M in investible assets, held personally and within trusts and corporate entities
Trustee for inheritance left to her minor child
Travels outside of the country frequently during the year
Primary goal to maintain current lifestyle, while simplifying the management of her wealth

Recommendations

Consolidate personal, corporate, and trust investment accounts to RBC Dominion Securities
Create a Financial Plan and investment strategy focused on wealth preservation and tax-efficiency
Implement a cash-deployment strategy to reduce timing risk
Develop estate plan with Will & Estate Consultant
Develop education plan to prepare child for inheritance
Introduction to private banker to manage complex personal and corporate banking needs

Results

Client’s finances are organized, providing clarity, control, and confidence through simplified household reporting
Reduced the burden of financial management of child’s inheritance
Financial and Estate Plans created and implemented, providing client with the freedom and flexibility to enjoy time abroad with her family

Challenges

Professional couple in their early 40s; physician and nurse
$1M of combined personal and corporate investible wealth
Primary goal of attaining a work-optional lifestyle while simplifying the management of their wealth
Nurse’s parents are considering transitioning the successful family business to their children

Recommendations

Consolidate personal and corporate investments to RBC Dominion Securities
Review benefits provided by physician’s association to ensure appropriate risk management measures in place
Develop Financial Plan integrating personal and corporate wealth strategies
Introduction to dedicated Healthcare Professional banking specialist to address lending needs of the business
Introduction to private banker for management of personal banking needs
Allow us to provide copy of consolidated tax package directly to accountant at tax time

Results

Clients gained clarity and confidence surrounding their financial situation now and in the future
Reduced administrative burden of filing taxes by sharing tax package with accountant, freeing up clients’ time
Clients are able to spend more of their free time travelling the globe and visiting their families

Challenges

Married couple in their late 50s approaching retirement
Two adult children early in their careers; one child with a disability living at home
POA for aging parents’ finances and personal care
$5.5M in investible family assets
Primary goals: simplify the management of the family finances and transition into retirement over the next 5 years

Recommendations

Consolidate family investments to RBC Dominion Securities
Complete financial plan and personalized portfolios tailored to the unique needs of each family member
Craft estate strategy for aging parents with Will and Estate Consultant and family’s estate planning lawyer
Create estate plan that protects and preserves disability benefits for dependent child
Introduction to premier banker to address personal banking and lending needs

Results

Entire household’s finances are organized in one consolidated platform, providing clarity, control, and confidence
Clients gained peace of mind surrounding their children's future by implementing estate plan
Clients have more time to spend with their family, as well as give back to their community and favorite charities