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Achieve financial freedom with professional wealth management

You’ve achieved a lot in life, yet there’s so much more you want to do. Maybe you want to help your loved ones with a milestone purchase or fund your new business venture. Your next project may be to create a lasting legacy for future generations or, perhaps, you'd like to make a meaningful difference in your community, right there, right now. It could be that you yearn for a legendary life of adventure, or maybe a simple, cozy retirement is exactly right.

Whatever your goals, we take the time to understand what you want to accomplish with your wealth. Whether you need assistance managing wealth for yourself, your family or your business, we provide the professional advice you need, from start to finish.

And your wealth is indeed just the beginning – it’s a way to achieve more, give more, and experience more. We'll help manage your investments, plan your retirement, protect your financial security and plan your estate, so you can take comfort knowing you’re receiving expert wealth management and attention.

Contact us to learn how our knowledgeable team of professionals, backed by the resources of RBC Wealth Management, can help you grow more than wealth.

Your account statement

You will receive an account statement every quarter, or monthly when there is activity in the account. In addition, you will also receive a quarterly portfolio review statement, which shows how the value of your portfolio has changed over various time periods. 

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Delivering tailored, sophisticated banking solutions

Through RBC Wealth Management, Private Banking, we work in close partnership with Private Bankers who offer sophisticated banking and high-end credit solutions to our high-net-worth clients. They can help simplify and build your wealth, diversify your assets and leverage opportunities.

Banking designed for your unique high-net-worth needs

Private Banking delivers a tailored banking experience that is designed for your individual needs, however varied or diverse. In consultation with you, your Private Banker will create a sophisticated package that is customized to include:

• A full complement of banking options
• A range of personal, family trust or holding company accounts
• A sophisticated suite of credit tools

Using credit to create wealth management planning opportunities

Many high-net-worth clients use credit to grow their wealth. Your Private Banking team includes a dedicated Manager of Credit Structures who can draw on high-end credit vehicles to help you create personal equity in your company, acquire or diversify investment holdings, purchase real estate, provide financial assistance for family members or consolidate your existing lending.

Partnering with Canada's top private bank

We are proud to work with RBC Private Banking, which has once again been ranked number one in Canada for its private banking services in the 2018 Euromoney Private Banking and Wealth Management Survey. This is the 11th consecutive year that RBC Private Banking has topped the Euromoney survey.

For more information on tailored RBC Wealth Management Private Banking solutions, please contact us to arrange a discussion today.

Insurance solutions

A solution for your corporate needs

Every day, you make crucial business decisions affecting the financial health of your business organization. And you know how important it is to have the best possible services and products to help effectively manage your finances. Making the right financial decisions is a big responsibility – and we can help.

Some of the best opportunities for small corporations, including holding companies, come from using tax-exempt life insurance. It is a tax-efficient means of transferring wealth out of a corporation into the hands of the next generation when you pass away. 

We can provide you with access to a vast array of products and services geared towards the needs of businesses and corporations. An important part of preparing your business for continued success is to prepare it for the unexpected. We have access to a wide array of business protection strategies:

Funding buyout agreements

In the case of partnerships, the death or disability of one partner can have a devastating effect on the survival of a business. Insurance can provide an excellent method of funding buyout agreements so that the remaining partner takes full control of the business and the surviving family is properly compensated.

Shared ownership

For companies that wish to retain top employees, the shared ownership of a permanent insurance policy can be an attractive opportunity. It protects the company against the death of the employee, and motivates that person to remain with the firm through the enticement of an attractive, low-cost retirement asset. This arrangement can create a win-win situation for everyone.

Minimizing corporate taxes

If corporate assets are invested in fixed income, then an insurance strategy can not only reduce its taxable income but it will lower the value of the business by the amount of the investment, thereby reducing the inevitable capital gains tax liability.

Maximizing corporate assets

By taking advantage of tax-deferred growth inside a Universal Life or Whole Life policy, corporate assets can avoid accrual taxation and grow to a much greater value than if they were invested in a regular account. Not only that, but upon death, most, if not all, of the proceeds can be paid out of the corporation tax-free. Ordinarily they would be paid out as taxable dividends, requiring approximately one third of the value to be paid in taxes.

Executive life insurance planning

Executive life insurance enables you to provide managers and executives with a supplementary benefit package. In this instance, both you and your executive purchase a tax-exempt life insurance policy with your executive named as the insured. Both of you will share the benefits. This form of insurance provides protection for an executive's family, while you benefit from an investment offering tax-deferred growth.

Business succession planning

A business succession plan can help protect your business when an owner-shareholder retires or passes away. Elements of a successful business succession plan include buy-sell agreements, a Will and powers of attorney.

A buy-sell provision is a shareholder agreement that allows for the orderly transfer of shares in the event of disability, death or retirement of a shareholder. Upon the death of a shareholder, the buy-sell agreement generally instructs the corporation to purchase the shares of the deceased. Insurance is a cost-effective way of providing the necessary funds to carry out those instructions.

Key person insurance

Many companies, public or private, large or small, often rely on the skills and contributions of a single person. Proficient with all levels of the firm's operations, respected by staff and trusted by clients, such key individuals play a crucial role in the company's success. The sudden departure of a key person can create a void, difficult, if not near impossible and costly, to fill. Taking out life insurance on the key person, or people, in your organization can help mitigate these costs.

A solution for your personal needs

We understand that creating and effectively managing your wealth is just part of the equation. It's also important to preserve it. Through the use of insurance strategies, we can help you preserve your wealth during your lifetime, and protect the value of your estate for your family and other beneficiaries. Insurance strategies can also help you maximize the wealth you transfer to your heirs.

Estate creation and preservation

You can offset costs that are incurred at death and preserve your estate by having insurance proceeds pay them for you. Taxes, liabilities, estate-related and other future costs can all be offset by your permanent insurance coverage. By taking advantage of the preferred status of tax-exempt life insurance, you can maximize the value of your assets and maximize the value being transferred to the next generation. Living benefits insurance is also vital to estate preservation, by ensuring funds are available should you require them at a time of illness.

Tax minimization

Tax-exempt insurance can eliminate the annual taxes you pay on your investment growth, as well as those payable when you die. Individuals tired of being punished for strong earnings may appreciate this tax-protector opportunity. The long-term value of these products is that their earnings can often greatly eclipse what would otherwise be earned through regular investing.

Estate maximization and protection

If part of your portfolio is held in GICs, Canada Savings Bonds or a bank account, you have probably never given a second thought to market fluctuations. Sticking to a conservative investment strategy can lead to peace of mind in the short term, but it may put you at risk in the long run. Essentially, you risk outliving your retirement savings. Generally speaking, one way to ensure that you have enough money to meet your retirement needs is to diversify your portfolio. You can get the security of a GIC and the performance potential of the stock market without needlessly risking your hard-earned savings with segregated funds.

Income enhancement

Certain solutions using insurance products can provide a supplemental stream of cash, thereby enhancing retirement income. The net income derived from this strategy may be significantly higher than what is achievable with traditional fixed-income vehicles, especially during times of low interest rates.

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.

Everything you need to know about estate planning

Proper estate planning requires careful consideration of many factors: reducing taxes, providing for loved ones, passing on assets in an orderly fashion, creating a charitable legacy and more.

Better understand your choices and make informed decisions with our complimentary estate planning guide.

It will help you understand important topics such as:

• Having valid and current Wills for all adults in the family
• Evaluating insurance coverage
• Understanding ownership structures (i.e. the use of Joint Tenancy agreements)
• Realizing advanced estate-planning opportunities (i.e. the use of Living Trusts)
• Planning charitable gifts

Contact us for a free copy of the Estate planning guide.

Achieve and maintain a comfortable retirement

Whether you're years away from retiring, close to retirement or already retired, a comprehensive plan and expert advice are critical in building and protecting your retirement dream.

We're there every step of the way, delivering the strategies, service and solutions that you may need to help achieve or maintain a comfortable retirement.

Our retirement planning solutions can be ideal if you need help:

• Projecting your retirement needs and the steps required to achieve them
• Creating diversified, tax-efficient retirement income with your nest egg
• Protecting your wealth with the right balance of risk and reward
• Keeping track of your savings goals and portfolio performance
• Considering the tax advantages of holding certain investments outside of an RRSP
• Planning when to withdraw from your investment accounts tax-efficiently
• Designing a tax-smart estate plan for a quick and efficient transfer to your loved ones
• Safeguarding personal assets and your family's lifestyle from adverse events
• Building an enduring legacy with your capital, time and passion
• Planning family income-splitting strategies

To learn more, please contact us.

Retirement Checklist

Contact us for a free copy of the Retirement Checklist. 

Tax-Free Savings Accounts

With a Tax-Free Savings Account (TFSA), your investments grow tax-free and you can make tax-free withdrawals at any time, for any reason.

Who can open a TFSA?

• Any Canadian resident 18 years or older with a Social Insurance Number.
• The age of majority is 19 for residents of Newfoundland and Labrador, New Brunswick, Nova Scotia and British Columbia which may delay the opening of a TFSA. However, the accumulation of contribution room will start at age 18.

What are the benefits?

• Tax-free investment income, including interest, dividends and capital gains
• Any unused contribution room can be used in future years
• No upper age restriction on contributions, unlike an Registered Retirement Savings Plan (RRSP)
• Make withdrawals any time for any purpose (e.g. car purchases, vacations, home renovations)
• Previous year's withdrawals are added back to your unused contribution room
• Income earned and withdrawals have no impact on federal income-tested benefits or credits (Guaranteed Income Supplement, Child Tax Benefit, Old Age Security, etc.)
• Canadians can contribute to their spouse's or common-law partner's TFSA subject to available contribution room

What are the considerations?

• Unlike an RRSP, contributions are not tax deductible
• Capital losses within the TFSA cannot be used to offset taxable capital gains outside the TFSA
• Interest on funds borrowed to fund the TFSA is not tax deductible
• Penalty tax on excess contributions

What investments are qualified for the TFSA?

• Cash, mutual funds, guaranteed investment certificates (GICs), publicly traded securities, and government and corporate bonds.

For more information, please contact us or visit the Canada Revenue Agency website.

Build your business and personal wealth with expert advice

Owning and operating a successful company commands a lot of time and attention. Every day, you make critical decisions that affect the financial health of your business. So, you know how important it is to have the best possible services and products to help effectively manage your finances — we can help.

Our business owner solutions can be ideal if you need help:

• Managing business and personal assets separately but efficiently
• Investing, preserving and maximizing surplus cash
• Designing a succession plan for a smooth transition
• Creating diversified, tax-efficient income with the sale proceeds
• Protecting against the sudden loss of a key employee using insurance solutions
• Safeguarding personal and business assets from adverse events
• Building employee loyalty with employer-sponsored retirement plans

Succeeding in business succession

Planning for succession in advance is imperative to maximizing your business’s eventual sale price, protecting the legacy of what you’ve built, transitioning your business smoothly and funding your future plans.

Watch this video to learn about the key elements of a successful business succession plan.

10 strategies to build and protect your family's wealth

When you are responsible for $1 million or more in assets, there are some unique financial planning issues and strategies that you should consider. In our Family Wealth Management guide, we highlight 10 strategies to help you protect your assets, reduce taxes, plan for retirement and maximize your legacy.

The Family Wealth Management guide covers topics such as:

• Managing your higher tax burden
• Reducing additional risks such as lawsuits
• Avoiding the common pitfalls of owning vacation property
• Minimizing taxes when passing on family assets
• Teaching financial responsibility to younger family members

Contact us for a free copy of The Family Wealth Management guide.

The four-step Portfolio Approach

The basis of long-term, successful money management, the Portfolio Approach is predicated around creating a customized investment portfolio that reflects your investment needs throughout the various stages of your life.

There are four steps to the custom Portfolio Approach:

Step 1 : Understanding your needs and goals

Our first and most important job is to listen to you and understand your needs and dreams for the future. We will take the time to understand your specific investment goals, such as saving for retirement or financing a business, and the timeframes available to achieve them. In addition, we will consider your return expectations and tolerance for risk. This “discovery process” doesn't end here—as time passes, and your situation changes, we will work with you to ensure that your investment strategy remains current.

Step 2 : Creating your investment strategy

With an in-depth understanding of your personal situation, we are able to create your investment strategy. This provides the framework for managing your financial assets going forward. It clearly sets out your investment objectives, income needs, timeframes, asset mix guidelines, security selection criteria and review process. Your investment strategy helps keep your investment goals and preferences in clear focus. It also provides a benchmark for measuring the progress you're making towards achieving your goals.

Step 3 : Building your custom-designed portfolio

Once you've approved your investment strategy, we can structure your personal portfolio.

In building a personalized investment portfolio for you, we select from a universe of international investments. This includes:

• Investments for growth, such as Canadian, U.S. and international stocks
• Investments for income, including government and corporate bonds
• Investments for wealth preservation, including guaranteed investments

We also have access to leading-edge investment strategy and research provided by the RBC Investment Strategy Committee, RBC Capital Markets and third-party, independent firms.

You will have a diversified portfolio that conforms to the guidelines and direction you set in advance. This process means you will receive specific, appropriate investment recommendations, and each recommendation will be clear and well thought-out.

Step 4 : Managing your portfolio

The last step in the process is to monitor your progress towards your continued success. We will review your portfolio with you on a regular basis, and recommend appropriate changes to keep you on track. You will also receive detailed account statements, portfolio review statements, transaction updates and tax reports.

For more information, please contact us today.

ESG and responsible investing

Our values are at the core of every choice we make. Making decisions with greater purpose helps the world become a better place.

More and more people are turning to responsible investing— an umbrella term encompassing the approaches used to deliberately incorporate environmental, social and governance (ESG) considerations into your investment portfolio.

A growing trend

As companies continue to innovate and strive for positive impacts, responsible investing opportunities continue to increase.

Like many of our clients, RBC Wealth Management focuses on community involvement, diversity and inclusion and environmental responsibility to support both current and future generations. To help you create a positive social and environmental impact, we offer a broad range of solutions designed to align with your values and financial goals.

Responsible investing

We can help you invest with purpose and apply responsible investing approaches to your wealth plan, including ESG integration, ESG screening & exclusion, Thematic ESG investing, and Impact investing.

These approaches are not mutually exclusive; multiple approaches can be applied simultaneously within the investment process. We believe there are four main applications of this data:

ESG integration

Systematically incorporating material ESG factors into investment decision making to identify potential risks and opportunities and help improve long-term, risk-adjusted returns.

ESG integration happens at the same time as traditional financial analysis. ESG integration is about understanding the material factors that are important to a company as it helps create a clearer picture in order to better understand the potential impacts to long term value. A few examples of ESG factors include:

Governance topics — Accounting practices, board accountability and structure, disclosure practices, executive compensation, corporate ethics, regulatory compliance and transparency

ESG screening & exclusion

Applying positive or negative screens to include or exclude assets from the investment universe.

This is often referred to as investing in line with values or values alignment. ESG exclusions and screening can include positive/negative screening, socially responsible investing (SRI), inclusions/exclusions, ethical, faith, and norms-based investing, best-in-class, and seeking leaders’ strategies.

Negative screening

Positive screening

Thematic ESG investing

Investing in assets involved in a particular ESG-related theme or seeking to address a specific social or environmental issue. With thematic investing, there is an intentional allocation of capital to a specific investment theme (e.g. climate change, gender equity, sustainability-related categories).

There is significant investment into technologies that alleviate the threats to sustainability. At RBC Wealth Management, we call the technologies that help tackle the threats to sustainability “SusTech”—Sustainability through Technology. These include:

Impact investing

Investing in assets that intend to generate a measurable positive social or environmental impact. Impact is the third dimension of performance, alongside traditional financial risk and return. Impact investors want a return on their investment, but may also be willing to take a capital loss as long as there are tangible results for the investment. In that way, it is essential to measure the impact of this investment.

A third dimension of performance

Invest with a greater purpose

RBC Wealth Management can help you integrate responsible investing into your portfolio. Contact us today to learn more. 

Required disclosures

Research resources

The strategies, advice and technical content in this publication are provided for the general information only and benefit of our clients. This publication is not intended to provide specific financial, investment, tax, legal, accounting or other advice for you, and should not be relied upon in that regard. Readers should consult their own professional advisor when planning to implement a strategy to ensure that individual circumstances have been considered properly and it is based on the latest available information.

Like any type of investing, ESG and responsible investing involves risks, including possible loss of principal. Past performance is no guarantee of future results. This material has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. All opinions and estimates constitute the author’s judgment as of the date of this publication, are subject to change without notice and are provided in good faith but without legal responsibility. It is not possible to invest directly in an index. Nothing in this communication constitutes legal, accounting or tax advice or individually tailored investment advice. RBC Wealth Management does not provide tax or legal advice. All decisions regarding the tax or legal implications of your investments should be made in connection with your independent tax or legal advisor. The information contained herein has been derived from sources believed to be reliable, but no representation or warranty, express or implied, is made by RBC Wealth Management, its affiliates or any other person as to its accuracy, completeness or correctness. 

â / ™ Trademark(s) of Royal Bank of Canada.  Used under licence.  © Royal Bank of Canada. 2022. All rights reserved. 

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