How we serve your wealth in its entirety

 

Our full-scope service offering brings together the best in professional investment portfolio management and comprehensive planning in all areas of wealth through strategic partnering with best-class-specialists throughout our robust RBC network.

Value-added wealth services		In addition to a vast array of investment products and solutions, we offer a number of value-added services to help you manage your wealth, many of which are complimentary for our clients.
These include: Integration of your investment plan with your other service providers, including your lawyer or accountant Access to financial planning services and a personal financial plan that addresses your cash flow, tax strategies, investments, retirement, insurance, estate planning and more  Will and estate planning consultations through accredited Will and Estate Consultants  Registered estate processing, tax reporting and T3 returns Registered estate tax planning, including multiple and contingent beneficiary designations Insurance consulting on a full range of individual life, health, segregated fund and annuity solutions Custody and safekeeping Annual consolidated tax reporting, including dispositions with book costs Research into old certificates/investments for current status and value Research, commentary and information on specific holdings, markets or economies upon request		Online integration of your RBC investment and bank accounts for consolidated viewing Margin accounts for leveraged investing Multi-currency account functionality Automatic account contributions and withdrawals Automatic mutual fund purchase and redemption plans Electronic Funds Transfer (EFT) capabilities Interest paid on cash balances in investment accounts Corporate reorganization advice Cashless employee stock option exercise service Self-directed Registered Education Savings Plans (RESPs) and formal trusts for educational purposes and income splitting Quarterly "Wealth Management Review" newsletter Introduction to a full suite of RBC partners if needed for: personal, business and private banking; estate and trust services, mortgage services; insurance; direct investing; and more For more information, please contact us today.

 

 

 

myGPS^TM  - your Goals, Priorities, Solutions

Have you ever wondered what your financial future looks like?

Most in the field of personal finance agree that financial planning is an essential part of keeping your finances on track. For many people, though, a full financial plan can be expensive, time-consuming to prepare, and generate complicated output not appropriate in all situations. Wouldn’t it be nice if there were a simpler way to get a holistic view of your changing wealth management needs and track progress towards meeting your future financial goals?

Wondering what your future looks like? myGPS™ provides an overview of your financial picture and how you are tracking to your short-term and long-term goals.

Introducing RBC Wealth Management’s myGPS™
myGPS™ offers a prioritized view of your financial goals and recommends solutions to help achieve your wealth management needs.

• Goals: A wealth planning solution to identify and report on your goals
• Priorities: An integrated approach that pulls everything financially important into one place, enabling you to define and prioritize your milestones
• Solutions: An advice approach that helps identify opportunities and solutions on how to pursue those opportunities

myGPS™ isn’t a financial plan. Rather, it is a report on things you already know (for example, your income, the equity in your house, the current value of your investments, and your annual taxes and expenses) projected into the future based on a set of assumptions about what may happen in the future (for example, the expected average rate of inflation, your long term goals and how much you intend to spend in retirement).

Learn more about myGPS™ here. 

myGPS™ Report: Six key questions you want answered
myGPS™ provides an overview of your financial picture and how you are tracking to your short-term and long-term goals. Helping to provide financial peace of mind, myGPS™ helps answer six key questions that can easily keep you awake at night.

1. What does my current financial situation look like? Current Net Worth & Current Cash Flow – myGPS™ provides consolidated summaries showing your incomes, savings, expenses, investments, real estate and debt – your critical financial information presented in one document.
2. If I live to be 90, will I have sufficient funds to maintain my current and/or desired lifestyle? Projected Net Worth, Projected Income and Distribution & Projected Outflows – Based on the information provided, myGPS™ will project income, savings, taxes, expenses and the value of your assets into the future using a defined set of assumptions.
3. If I die tomorrow, will my family be sufficiently provided for financially? Estate Impact Analysis and Life Insurance Analysis – Anticipating your future financial needs is a difficult task. Anticipating your family’s future financial needs should you or your spouse die unexpectedly, is an even more difficult task. myGPS™ can help you identify any potential financial shortfalls should an unexpected tragedy strike you or your family.
4. How does changing my financial assumptions impact my future financial situation? Retirement Analysis – It’s impossible to know for certain what will happen tomorrow. To provide a financial projection, however, certain assumptions about what will happen in the economy have to be made. But what if some of those assumptions prove to be wrong? What if, for example, you were forced to retire early? Or perhaps you end up spending more in retirement. The myGPS™ Retirement Analysis allows you to independently change the assumptions you have made about the future to see how that change will affect your overall finances.
5. What can I do to ensure my financial goals and priorities become reality? Wealth Management Opportunities – myGPS™ reports the key financial products, solutions and strategies, which are tailored to your financial situation and priorities, helping you to make the most of what you have – both now and in the future.
6. Could my business survive a major change or crisis? Business Owner Opportunities – For business owners, the line between work and life is blurred. Business Owner Opportunities, outline solutions and strategies that can be pursued from the business side or from the personal side of your finances. The opportunities are tailored to your own situation and cover only those topics which apply to you, your business and your family – strategies designed to help keep you in control of your financial future.

Source: RBC Dominion Securities Inc., myGPS - Your Goals, Priorities and Solutions Factsheet

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Insurance products are offered through RBC Wealth Management Financial Services Inc. (“RBC WMFS”), a subsidiary of RBC Dominion Securities Inc.* RBC WMFS is licensed as a financial services firm in the province of Quebec. RBC Dominion Securities Inc., RBC WMFS and Royal Bank of Canada are separate corporate entities which are affiliated. *Member-Canadian Investor Protection Fund. RBC Dominion Securities Inc. and RBC WMFS are member companies of RBC Wealth Management, a business segment of Royal Bank of Canada. ® / ™ Trademark(s) of Royal Bank of Canada. Used under licence. © 2020 RBC Dominion Securities Inc. All rights reserved.

Seven questions to ask any potential financial advisor

Choosing a financial advisor is one of the most important financial decisions you will ever make. Before entering into any partnership, ask the following questions, and make sure you are comfortable with the answers.

1. How are you accredited or registered?

Ask your prospective financial advisor how they are registered, and the range of services, products and advice they are qualified to provide. The investment firm they are employed by should be a member of the Investment Industry Regulatory Organization of Canada (IIROC), which regulates all investment dealers in Canada (including RBC Dominion Securities). IIROC monitors and enforces rules regarding the proficiency, business and financial conduct of these firms and their advisors. Visit http://www.iiroc.ca/ to learn more.

2. How are you compensated?

Many advisors are paid by commission for the products they recommend, while others receive a salary or a flat fee. Find out how your advisor is compensated, how much the services will cost, what choices you have to pay them and what you can expect to receive in return.

3. What is your experience?

Your advisor should be forthcoming about their industry experience, professional qualifications, memberships and education. Also, fewer years as an advisor may not necessarily mean less expertise. Many advisors enter the profession after many years of working with the people who would later become clients, for example as consultants to business owners who later specialize in business owners' investment portfolios.

4. What kinds of products and services can you provide?

Ask if your advisor is limited to certain investments (such as proprietary products offered by their firm, GICs or mutual funds) or if you can draw on a greater range of investment products. Make sure you ask about your advisor's access to investment research, portfolio strategy teams, and risk management groups. Find out if your advisor focuses on investment solutions only, or can also provide additional services that may help you achieve your financial goals, such as financial, tax, retirement, and estate planning services.

5. What clients do you serve?

Ask whether your potential advisor specializes in any particular client group, such as business owners, medical professionals or retirees. Don't be shy about asking for references either; your advisor is in many ways applying for the job.

6. How will you help me reach my goals?

Your advisor should ask you to outline what you hope to gain – for example, preserving income, building wealth, retiring comfortably – and can guide you if your expectations are unrealistic. Your advisor may also draw on value-added services such as financial, tax or estate planning to ensure that your ongoing wealth needs (in addition to investments) are in sync with the rest of your affairs.

Ask about your advisor's investment process, and how they create and manage your portfolio. Is each portfolio custom-crafted, or is the advisor following a set of established models? Confirm that you are comfortable with this process.

7. What kind of service will I receive?

Your advisor should clarify at the outset the level of service you can expect. This includes how often you will meet to review your progress; how your advisor will update you on portfolio performance; and what sort of contact you can expect from your advisor or support staff.