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Every client becomes a part of our family, and we can’t help but care deeply. Our genuine passion for achieving our clients’ goals and being there when they need us most is what drew each of us to this business in the first place.
When parents Denise and Kevin get life-changing news, wealth management planning to secure their daughter’s future takes top priority.
When Garry’s brother Greg suddenly passed away, leaving him to pick up the pieces, he welcomed the compassionate guidance of our expert team.
Establishing a new life in Canada was made easier for John, Yolanda and family by the full-service guidance provided by Yvonne Chan and her team.
After years of trying different financial advisors, Louise and Don find the holistic approach they were looking for with our team.
Our expertise helped these business owners achieve an unexpectedly high sale price for their business, along with significant tax savings.
When her 35-year marriage ended, Janet found answers to her financial questions from Yvonne Chan and her team, along with the reassurance she needed to move forward.
As parents of a daughter with special needs, business owner Kevin and his wife, Denise, had overcome many challenges over the years. When Denise was diagnosed with cancer, however, they faced the biggest crisis of their lives.
“It was quite an ordeal for us,” said Kevin, about Denise’s diagnosis. “Securing the future for our daughter Kayla, with her disabilities, once we are no longer here, was of paramount importance.”
Denise felt the same way. “We wanted our daughter to be properly taken care of.”
Kevin and Denise turned to Yvonne Chan and her team for guidance and peace of mind. “I got a call from Kevin looking for some reassurance,” recalled Yvonne. “Could he shut down his business, or wind it down to focus on Kayla and care for Denise – these were the sorts of questions they came to me to seek answers for.”
The team worked closely with the couple to do an overview of all the components of their portfolio, help them develop the optimal structure for their holdings – both personal and business – and explain the benefits for their family.
“I think a life event like that causes even the most dedicated business owner to step back and look at what’s really important,” said Grant Henri, Vice-President, Financial Planning Specialist.
Will and estate planning expert Robyn Solnick also discussed more practical issues that parents with special needs children need to consider: “It’s not all about the tax and the numbers. We’re also looking at the softer issues that are so important.”
Kevin and Denise felt it was very important to know that, once they’re gone, Kayla could maintain the quality of life she currently has and will be properly taken care of in the future. “So wealth preservation has been something that's been on the forefront in working with the team here at RBC and it means everything to us.”
Today, Denise has recovered and the family continues to live life to the fullest. “It’s all good now. Our house is in order because we had a great team working with us to make sure everything was in place. What sets the Yvonne Chan Wealth Management Group apart is the breadth of services offered to us,” said Denise.
“It is nice to know that the people that you're working with, who are determining the quality of your retirement, understand what we require as a family and they do care.”
Garry was devastated when his brother Greg unexpectedly suffered a fatal heart attack at the age of 57. Grieving the loss of his brother on top of the complex duties of an executor left Garry feeling overwhelmed.
“The sad reality was that a month before Greg passed unexpectedly, he was in my office preparing for the unexpected,” said Yvonne Chan. None of us expected him to die of a heart attack three weeks after our meeting.”
Garry turned to Yvonne for help with Greg’s estate. Knowing that Garry needed support with the emotional and technical aspects of estate settlement, Yvonne immediately referred Garry to RBC Estate & Trust Services (E&TS) where he was introduced to Ernard Cavas, a senior trust officer.
“From the very beginning, Ernard took the burden off my shoulders. Every time the phone rang, I would think 'what's wrong?' but he took the pressure off me and took care of every single detail," recalled Garry. “He kept me informed of the process, explaining things every step of the way."
Yvonne and Ernard opened the lines of communication, not only with Garry but with colleagues who provided additional resources and support.
Garry initially thought he was on his own and would be facing the daunting role of executor single-handedly. That changed when he received advice, support, and a compassionate ear, from Yvonne and the team at E&TS and RBC.
“This wasn't customer service, this was compassionate service. Everything was just a fog for me after Greg died. In a way, Ernard saved my life,” said Garry. “By taking the stress off my shoulders, he may well have saved me from a similar fate to my brother.”
When John and Yolanda first immigrated to Canada from China in 2014, their goals were similar to those of many new Canadians.
“We hoped we’d be able to settle down in our new homeland, support the kids in receiving a good education and get a good start in their career, and look forward to having a peaceful, worry-free retired life,” said John.
The couple first met Yvonne Chan and her advisors in 2015 and was impressed by the team’s willingness to listen, and to understand their situation. They also welcomed the ideas proposed to help them in a range of areas from various in-house experts. “They were able to meet all our needs, including financial, insurance, real estate, wills, trusts, and so on,” said Yolanda.
Yvonne and her team helped manage John and Yolanda’s capital market assets, bringing impressive capital gains each year, and offered professional suggestions on how to refinance for advantageous investing and tax reduction. Yvonne also arranged a meeting with RBC legal experts who gave the couple professional guidance on wills and estate planning.
“She also arranged a meeting with RBC Royal Trust to discuss the importance of setting up a trust for our children and how to choose the right trustee, which was very helpful, especially if you have young kids.”
The team also advised John and Yolanda on life insurance options that would best suit their family’s needs.
Six years after meeting Yvonne and her team, John and Yolanda have settled into family life in Canada and feel confident their financial affairs are in a good place today and in the future.
“In order to reach our goals, we needed professional help, and we are very fortunate to know Yvonne and her team. We could write a long list about the excellent job they’ve done and how much we’ve benefitted,” said Yolanda. “We can’t express how grateful we are for how they’ve helped us.”
After holding senior executive positions at two major financial institutions, Louise now runs an independent consulting firm and Don is a successful lawyer.
“As busy professionals, we relied on several financial advisors over the years,” said Louise. “It always seemed they were promoting the latest trend or chasing returns causing us to become increasingly disillusioned with the investment industry. Just as we were considering other options, we were referred to Yvonne and decided to give it one more try. We are very glad we did.”
From the very first meeting with Yvonne Chan and her team, Louise and Don noticed a difference from the advisors they’d worked with in the past. “They listened, asked great questions, and understood what was important to us,” recalled Louise.
The couple appreciate the “excellent investment advice” they’ve received, along with the team’s holistic approach. This approach involves including a broad team of experts to provide corporate advice, tax and estate planning and guidance on the couple’s philanthropic efforts.
“Yvonne’s caring and incredibly responsive team made sure that we took care of everything that mattered to us with gentle reminders that made everything easy.”
Today, Louise and Don are glad they gave their search for a financial advisor one more try. They couldn’t be happier with Yvonne and her team and feel confident their wealth management needs are in excellent hands.
“In the past, we would never have referred friends or family to our wealth advisor. That has changed since we moved our business to Yvonne. We have referred friends to team Chan and will continue to do so.”
JR and Dave had been business partners for 13 years and were ready to sell. Their business structure was complex, however, comprised of holding companies and trusts. “It was imperative to maintain some of the advantages for which these were set up while maximizing our tax benefits and simplifying our lives going forward,” said JR.
Beyond this help, JR and Dave also asked Yvonne Chan’s team to work with their children – who range in age from 16 to 30 – on their financial literacy, investment training, and generational wealth counselling. “I have coached and mentored JR’s children (Johan, 25, and Hanna, 30) with their career development, taking them to networking events and many sessions on financial planning,” said Yvonne.
Hanna, a CPA and CFP, said she found Yvonne’s coaching more educational than reading her textbooks. She told Yvonne, “What I read studying for the CFP exam now makes sense.” Yvonne will soon start financial literacy classes with Dave’s children – Emma, 16 and Alex, 19.
Yvonne and her team understood the complexities of JR and Dave’s business and worked seamlessly with tax and legal advisors to optimize the best outcome before and after the sale. They also evaluated how to invest the business’s earnings most effectively while still carrying on portions of the structure.
“We were looking for a team with experience and resources to do this,” said Dave. “The ability to juggle our current tax and legal professionals through the transition while investing and preserving our capital; as well as making a return.”
From investment, insurance, legal, estate, and overall tax planning, Yvonne and her team connected everyone together. “We had worked so hard and sacrificed so much to make our hard earn money and it was our desire to protect it, to grow it and to create a nice legacy for our future generations,” said JR.
Dave added: “Yvonne and her team took a holistic approach and served as the perfect quarterback to bring all the required professionals and expertise together to guide us and hold our hands throughout this process.”
With the expert guidance of Yvonne’s team, JR and Dave were able to sell their business at a value “we could not have accomplished on our own.”
Tax planning pre- and post-sale also saved the business partners millions. “Yvonne and her team deliver results and continue to exceed our expectations,” said JR.
The end of Janet’s marriage of 35 years left the mother of five feeling anxious, frightened, and unsure of where to turn for financial advice. Two of her children were still in university, with a third newly graduated, and a friend of Janet’s ex-husband had been the one managing the couple’s investments.
“As a single senior woman who previously had not handled financial decisions, and facing a divorce, there is a vulnerability that the ex has all the advantage, and you have zero power,” recalled Janet.
A referral to Yvonne Chan and her team helped bring Janet some peace of mind about her situation.
“Yvonne helped me stay calm, first of all,” she recalled. “She assembled a team – and I mean a team – to help me understand what I needed from the divorce, what I needed in the short term, and what I needed to plan for as I exited the divorce, and plan for my future.”
Having a plan in place helped Janet feel safe – “I hadn’t felt safe in a while,” she said. “This was the first time I had regained some of my own power.”
Since her divorce, Janet has been able to increase her financial literacy with respect to monthly costs and managing money, with the help of Yvonne and her team. She’s also been able to plan and execute financial decisions, with the support of the team.
Janet is very pleased that the growth of her portfolio has been slow and steady – with each quarter bringing her a deeper understanding of her wealth management goals and how to achieve them.
“I chose Yvonne and her team because of the comfort I felt with every single person. I feel they protect my wealth,” said Janet. “I also know that if I need anything, it is only a call or email away. I know someone will be able to help and give me the best financial direction.”