Private Investment Management (PIM)

RBC Wealth Management Private Investment Management is the largest discretionary platform in Canada with over $160 billion in assets under management. A platform of this size is a benefit to you, because regardless of what your specific needs are as your life stages evolve, the breadth and specialization of our dedicated resources to this platform helps ensure that we can offer the right solutions to those needs without being restricted by a lack of resources. This discretionary investment solution frees you from the day-to-day details of managing your wealth. As your accredited Portfolio Manager, I will construct, rebalance and monitor a customized portfolio based upon your agreed-upon Investment Policy Statement that will be used as the mandate for your portfolio.

Discretionary relationship that fits your needs and lifestyle

Your investments will be managed on a discretionary basis. What this means is that you are not required to approve every single investment decision. Instead, as your personal Portfolio Manager, I am licensed to make investment decisions on your behalf, working within the specific guidelines that are set out in your personalized Investment Policy Statement. Discretionary management is appropriate for you if you want to minimize your involvement in the investment process, and focus more on your own personal goals.

Fiduciary responsibility as a Portfolio Manager

The highest standard that an Investment Advisor can be held to is that of a fiduciary, which is a higher standard than in a traditional advisory role. This standard carries an explicit legal obligation that dictates that a fiduciary must act in their client’s best interests at all times. This differs from the advisory relationship when the Investment Advisor bears a duty of care, defined as acting as a reasonable and prudent Investment Advisor would act in the same circumstances.

Enhanced risk management

Your portfolio will be monitored by RBC's Portfolio Implementation and Risk Management Group, an independent review group who ensure that your portfolio complies with the investment guidelines and preferences outlined in your Investment Policy Statement. This RBC team is the largest of its kind in Canada offering you the infrastructure to ensure that your assets are safe and you are protected. As your Portfolio Manager, I’m the first line of defense, but having this second and third line of defense where things get reviewed, provides a great deal of value and confidence.

Investment Policy Statement

I will provide you with an Investment Policy Statement, which is a legal document that outlines your current circumstances and investment objectives as well as the asset allocation and investment solution designed to meet those objectives. This document is reviewed on at least an annual basis to ensure that it continues to reflect your investment needs and goals.

Customized Investment Portfolios

Your customized investment portfolio is designed to meet your investment goals, with the asset allocation reflective of your personal investor profile.

More efficient portfolio management

A discretionary relationship allows for faster trade execution, thereby maximizing opportunities. Because you are not required to confirm every trade, you never miss an investment opportunity simply because you are out of reach.

Transparency of fees

Your account(s) will be managed for an annual fee of 2.0%. Fees include portfolio management advice, transaction costs, custody and reporting. The account fee will be charged quarterly by RBC Dominion Securities based on the portfolio value as determined by RBC Dominion Securities as of the last business day of each month. These fees will be shown in your Consolidated Portfolio Report (and may be deductible for income tax purposes for non-registered accounts).

Reporting

You will receive a Consolidated Portfolio Report on a quarterly basis, which will show your portfolio value, asset mix, rate of return, historical performance, and specific holdings. Annually you will receive a Consolidated Tax Reporting package, including dispositions with book costs for non-registered accounts, along with an Annual Summary Fee Letter for non-registered accounts. You will be provided with online account access to your RBC Dominion Securities discretionary account.

Review Requirements

It is important that we meet semi-annually to review your accounts, update your information, and address any questions or concerns that you may have.

Wealth Management

Financial well-being extends beyond portfolio performance. A wealth management approach considers retirement planning and tax strategies to help you achieve important financial goals. Included as part of your discretionary account, you will be introduced to my Wealth Management partners where appropriate:

  • Financial Planning Specialist
  • Estate Planning Specialist
  • Will and Estate Consultant
  • Royal Trust Advisor
  • Private Banking Advisor
  • Premier Banking Advisor
  • Commercial Banking Account Manager
  • Group Advantage

Access to additional investment products

As a discretionary account client, you will have access to investment products only available to discretionary clients, such as those listed below. We would determine if these products were suitable for your portfolio:

  • RBC Private Pools
  • Maple Bonds
  • Customized Socially Responsible Investing