Case study: Business owner

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

Case study: Healthcare professional

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

Case Study: Intergenerational family wealth planning

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