Expert Resources to meet the Wealth Management needs of medical professionals

 

RBC Wealth Management has a unique offering to health care professional. We have a 'heath care' specialist team which focuses on your unique financial situation which requires specialized advice. Drawing on the depth of experience that members of our team have developed as financial, taxation and legal professionals, we are able to present strategies that are appropriate for your personal situation. Reaching your goals often requires an interaction of strategies that minimize taxation, provide sufficient retirement income, safeguard your wealth, and provide for the
effective transition of assets between generations.

 

Taxation

  • Provide specific corporate and personal tax planning strategies for medical professionals
  • Recommend strategies to help reduce your family’s tax burden
  • Discuss strategies to minimize tax through structures such as family trusts, holding companies and insurance

 

Financial planning

  • Development of a comprehensive financial plan that includes projections to determine if you are on track to meet your goals such as retirement, estate and risk management
  • Help you take a financial planning approach related to every financial decision that impacts your life
  • Help you determine the best approach for debt repayment and annual savings

 

Business succession planning

  • Discuss strategies to effectively transition from your practice in a tax-effective manner
  • Identify the missing elements of your succession plan and provide strategies and solutions to fill in the gaps
  • Assist in implementing an Individual Pension Plan for yourself or your key employees as part of your practice succession plan
  • Assist in providing you with an overall financial plan and contingency plan as part of your practice succession plan
     

Charitable giving

  • Help you determine which charitable giving strategies are most suitable for you based on your objectives
  • Assist you and your family to implement a charitable foundation to minimize tax and leave a lasting legacy


Education savings

  • Provide you with strategies and a variety of options to fund your children or grandchildren’s education in the most tax-effective manner
  • Through a financial plan, determine the required annual savings required to meet your education funding goals

 

Estates and trusts

  • Provide tax-efficient strategies to transfer your wealth to chosen beneficiaries
  • Review your current Will and provide Will and estate planning recommendations consistent with your objectives
  • Help you determine which trust solutions may be appropriate for you based on your family situation and your objectives

 

Insurance

  • Assist you in analyzing the need for insurance to provide for your loved ones due to disability or death
  • Deliver creative insurance strategies to minimize tax, maximize your estate, increase retirement income or create a legacy

 

Retirement

  • Help you determine strategies and techniques to meet your retirement income goals
  • Provide you with strategies to maximize your after-tax retirement income

 

Holding companies

  • Provide creative strategies to minimize tax during your lifetime and maximize your estate for your holding company assets
  • Provide robust, consolidated financial reporting to corporations owning significant investment portfolios and seeking professional administration

 

U.S. and international

  • Provide you with information and strategies on U.S. tax and estate planning related to issues such as purchasing U.S. properties, moving to and from the U.S. and U.S. citizens living in Canada
  • Discuss international planning strategies and issues of owning foreign assets and having family members located outside Canada