Complimentary second opinion service
The RBC Dominion Securities second opinion service is a complimentary, four-step, comprehensive review of your wealth management plan to determine if your financial affairs are properly structured to achieve your goals. At the end of this process, you will be provided with a preliminary wealth management plan that includes:
- A myGPS™ wealth plan
- Investment Policy Statement (IPS)
- Portfolio Evaluation Report (PER)
- Service plan
Step 1: First, we listen to you
We know the best way to be successful is through careful planning, which requires a high level of understanding and the collection of detailed information. We ask questions and carefully listen as you explain your investment objectives, your financial goals and the specifics of your unique, individual situation. Then, and only then, will we ask to see your portfolio.
Step 2: Next we create a wealth management plan
We start the wealth management process by creating a financial projection using our myGPS™ platform. Your myGPS™ plan is the foundation we use to build an investment strategy designed to achieve your goals. This investment strategy is laid out in your custom-tailored Investment Policy Statement (IPS) – the “blueprint” for creating your personalized investment portfolio. It documents key factors such as your investment objectives, time horizons and risk tolerance. Based on these factors, your IPS outlines an appropriate asset allocation strategy with the right balance of growth, income and security.
Step 3: Then, we undertake a comprehensive analysis of your current holdings
We analyze your holdings by blending your investment objectives with our knowledge of current market conditions and the resources available through RBC Dominion Securities to create your Portfolio Evaluation Report (PER). In your PER, we will provide you our best opinion on the quality and suitability of the investments you presently own, answering questions such as:
- What is our current outlook for your stocks, bonds and mutual funds?
- Is the mix between your fixed income and your equity holdings appropriate for your investment goals?
- Is the risk level suitable for you?
- What adjustments should you make?
Step 4: We bring it all together
In the final step, we take the results of our analysis and compare it to the criteria you outlined at our first meeting. If your wealth management plan is properly structured, we will tell you so. If we feel changes should be made, we will make specific recommendations. What you will end up with is a comprehensive evaluation that is strictly confidential. But most importantly, you will end up with the peace of mind of knowing that your wealth management affairs are properly structured or, if they aren’t, the confidence of knowing what changes you need to make.
Ongoing service
Your service plan outlines what you can expect in the way of service level and costs, should you allow us the privilege of helping you with the future management of your wealth. This plan articulates our commitment to you when it comes to tax and other reporting, face-to-face reviews, online account access, financial planning, Will and estate consultations and insurance solutions.
Learn more about our complimentary second opinion service here.
