Mike Morgan | Wealth Management Approach

Our Wealth Management Process

As the banner above illustrates, our clients are the nucleus of our universe. As your financial steward, I marshal the vast resources of RBC to deliver immediate access to a sophisticated international team of financial experts, leveraging smart-technology to address your needs promptly, professionally and thoughtfully. This team approach orbits you with an integrated, full-service wealth management solution, one you can only expect to find at a family office acting for Canada’s most affluent families.

Discover

The first step in our approach is to engage in a comprehensive discussion with you to explore your unique circumstances. Our goal is to help you identify and prioritize your financial goals. With a thorough understanding of your needs and definition of wealth, we provide you with simple and convenient solutions to complex financial matters.

Propose

The formal proposal will include different strategies that are personalized to reflect your needs. We will consider and analyze your risk factors, income tax and estate circumstances and tailor your plan to your objectives. At this point we determine if the fit is right for us to proceed.

Implement

Upon agreement, we will implement your plan in coordination with your existing legal and tax advisors. We would begin to consolidate assets and phase in our investment recommendations.

Monitor

We will monitor progress of your plan and make necessary adjustments to take advantage of opportunities, and mitigate risks. We apply a disciplined approach to rebalancing and believe frequent communication is key to ensuring your results-based plan is aligned to your evolving goals. We will hold regular meetings with you to review progress and direction, and ensure your portfolio is reflective of your values.

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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.

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.