Wealth management process

We follow a disciplined wealth management process designed to keep you on-track to achieve your financial goals. This process keeps everyone focused on what’s important – helping you live life the way you want to live it.

Step 1. Introduction

  • Introduce you to our unique investment management process that every one of our clients benefits from
  • Introduce our wealth management team and the services we provide to ensure the success of our clients’ financial plans
  • Explain fully the services we provide and how we are compensated for our service and guidance

Step 2. Discovery

  • Gather important financial information – tax returns, bank and investment statements
  • Discuss and clarify your financial goals; for example saving for retirement, maximizing retirement income, wealth transfer to beneficiaries

Step 3. Create your investment plan

  • Analyze financial and personal information
  • Analyze your financial information to better understand your return objectives, risk tolerance, time horizon, liquidity and income needs, legal and regulatory considerations, and tax considerations
  • Recommend optimal asset allocation mix of cash, equity and fixed income to meet distribution and return goals
  • Implement specific action plans to achieve your goals
  • Structure your investments tax-efficiently and optimize the risk/reward balance

Step 4. Present and explain

  • Review the different strategies that are appropriate for you

Step 5. Documentation

  • Sign appropriate RBC Dominion Securities account opening documents and provide all pertinent account agreement guidelines
  • Prepare various transfer documents
  • Set up access to our security-protected online account viewing

Step 6. Financial planning

  • Complimentary financial planning available for clients with investments in excess of $500,000
  • Meet with a financial planning specialist of RBC Wealth Management Services
  • This results in a customized and comprehensive personal financial plan incorporating tax, financial, retirement, risk management and estate planning strategies
  • Your personalized action plan summarizes key recommendations to meet your financial objectives or improve your financial situation

Step 7. Will and estate review

  • Complimentary review service available for clients with investments in excess of $750,000
  • Estate and tax review by our RBC Will and estate consultant
  • Identifies any opportunities to maximize wealth in your estate
  • Provides a comprehensive report for you to review with your legal counsel, outlining concepts and strategies we may recommend

Step 8. Insurance review and family wealth transfer

  • Professional insurance consultant with extensive estate planning expertise
  • Review your current life and disability insurance needs and coverage
  • Recommend insurance-based wealth protection, income replacement or wealth transfer strategies

Step 9. Review other financial planning strategies

  • Introduce experts from our professional network as required
  • Tax accountants, actuaries, bankers, etc.
  • Create and implement advanced strategies, including Individual Pension Plans, corporate estate freezes, income-splitting strategies, estate tax planning, as well as personal and business tax planning

Step 10. Service

  • Provide ongoing and regular reviews
  • Ensure your plan is achieving the financial goals and objectives identified specifically for you
  • Identify and present new strategies that may be appropriate for your changing needs