Putting your goals in sight with professional wealth management

Jun 06, 2017 | Robert McLean


As your wealth grows, so too do the complexities associated with wealth.

Many Canadians are familiar with the investment management services provided by RBC Dominion Securities. But there’s another side to the story: professional wealth management service that can help to minimize overall taxes, safeguard your assets against undue risk or ensure you leave a legacy for your family and charity.

As your wealth grows, so too do the complexities associated with wealth. This is often the case for successful business owners, executives, large families and those enjoying or approaching retirement.

Your personal and financial goals are the baseline for wealth management. We will work with you to understand your personal goals, and collaborate with professionals from throughout RBC to present strategies that can help you reach those goals. We then build on these strategies with potential solutions to be implemented and coordinated with your own tax and legal professionals.

Financial planning: Clarifying your overall financial situation

The wealth management process normally starts with a comprehensive, professionally prepared financial plan. With this calibre of financial plan, you can address all aspects of your financial affairs, including cash and debt management, tax and risk exposures, investment management, retirement planning and estate planning.

Retirement planning: Ensuring your retirement lifestyle

With your retirement goals in mind, we look at strategies above and beyond maximizing your RRSP or RRIF, including enhanced retirement plans such as Individual Pension Plans (IPPs) and Retirement Compensation Arrangements (RCAs), or tax-advantaged investment vehicles such as Tax-Free Savings Accounts (TFSAs). We may also consider insurance-based strategies utilizing tax-exempt life insurance, insured annuities, and segregated funds, and ways to structure your retirement income to enhance your after-tax retirement income.

Taxation: Minimizing your tax exposures

In consultation with your tax and legal advisors, we consider strategies to manage or reduce your tax liabilities. These considerations include restructuring your personal and business assets, and legal ownership, holding companies, trusts and other strategies. It may also include income-splitting strategies to reduce your family’s overall taxes, or tax-loss harvesting, tax-efficient asset allocation and tax-exempt investment vehicles.  

Estate planning: Leaving your affairs neat and tidy

A major focus of wealth management is on protecting your legacy to your family, while making it easier for them to settle your estate. Working with your tax, legal, insurance and trust experts, we look at your overall estate plan, including major documents such as your Will, Powers of Attorney and Trusts. We then consider insurance-based strategies to enhance and protect your estate value, and estate settlement services, which can especially useful when you have a more complex estate.

Insurance: Protecting everything you’ve built

Insurance is an indispensible and very flexible wealth-planning tool that not only covers the major “what-ifs” in life but can also help build and protect wealth during your lifetime and when your estate is settled. Here we look at how you can maximize insurance to provide financial security for you and your family in case the unexpected happens, shelter your investment and estate assets from taxes and provide tax-free retirement income and tax-free death benefits.

Credit and lending: Using debt wisely

Working with an RBC credit specialist, we assess your credit and lending needs to reduce or eliminate unnecessary debt, restructure your existing debt so that the interest is tax-deductible wherever possible and consider the use of “good debt,” such as a spousal loan strategy or non-recourse mortgage to potentially reduce taxation.

Charitable giving: Giving back and creating a legacy

To help you make the most of your charitable giving, we can help with tax-effective giving strategies such as donating stocks in-kind and establishing family foundations.


If you have not already taken advantage of our extensive wealth management services, please contact us today to learn more.