Taking care of your wealth management needs begins with understanding your financial goals and those of your family — from your parents, to your partner, to your kids and the following generations.
In this issue, we discuss the importance of multi-generational wealth planning to help you protect your wealth at every stage of life. Recent research conducted by RBC Wealth Management concluded that only 22 percent of high-net-worth Canadians have a full wealth transfer strategy in place, 52 percent have prepared a Will, and almost 60 percent of Canadian parents don’t feel confident their children will preserve or grow their inheritance. In response to this, we evaluate wealth transfer from a gender perspective, provide a wealth transfer checklist to help you start thinking about key aspects of planning to promote a lasting legacy, offer six financial planning tips for Millennials, and review the importance of business owner succession planning. We also highlight the connection between women’s cognitive health and financial well-being, spotlighting the Women’s Brain Health Initiative, a charitable organization RBC Wealth Management proudly supports.
In addition to addressing the theme of wealth transfer, we look at the shift towards responsible investment — integrating environmental, social and governance factors into overall investment practice — and we discuss multi-generational philanthropic giving.
We also celebrate diversity and inclusion at RBC by profiling three female leaders named to the Women’s Executive Network 2016 Top 100 list of Canada’s Most Powerful Women, learning what sets them apart as role models and leaders. To honour Canada’s 150th anniversary, we share a selection of inspiring youth stories from our Make 150 Count campaign.
I encourage you to contact your RBC Wealth Management advisor about the topics featured in this issue and to explore other ways to address your wealth management needs and goals — for your family, your business and yourself.
David Agnew, CEO
RBC Wealth Management Canada
This document has been prepared for use by the RBC Wealth Management member companies, RBC Dominion Securities Inc.*, RBC Phillips, Hager & North Investment Counsel Inc., RBC Global Asset Management Inc., Royal Trust Corporation of Canada and The Royal Trust Company (collectively, the “Companies”) and their affiliate, Royal Mutual Funds Inc. (RMFI). *Member – Canada Investor Protection Fund. Each of the Companies, RMFI and Royal Bank of Canada are separate corporate entities which are affiliates. “RBC advisor” refers to Private Bankers who are employees of Royal Bank of Canada and licenced representatives of RMFI, Investment Counsellors who are employees of RBC Phillips, Hager & North Investment Counsel Inc. and the private client division of RBC Global Asset Management Inc., Senior Trust Advisors and Trust Officers who are employees of The Royal Trust Company or Royal Trust Corporation of Canada, or Investment Advisors who are employees of RBC Dominion Securities Inc. In Quebec, financial planning services are provided by RMFI which is licenced as a financial services firm in that province. In the rest of Canada, financial planning services are available through RMFI, Royal Trust Corporation of Canada, The Royal Trust Company, or RBC Dominion Securities Inc. Estate and trust services are provided by Royal Trust Corporation of Canada and The Royal Trust Company. If specific products or services are not offered by one of the Companies, clients may request a referral to another RBC partner. The strategies, advice and technical content in this publication are provided for the general guidance and benefit of our clients, based on information believed to be accurate and complete, but neither the Companies, RMFI, nor Royal Bank of Canada, nor any of its affiliates nor any other person can guarantee accuracy or completeness. This publication is not intended as nor does it constitute tax or legal advice. Readers should consult a qualified legal, tax or other professional advisor when planning to implement a strategy. This will ensure that their individual circumstances have been considered properly and that action is taken on the latest available information. Interest rates, market conditions, tax rules, and other investment factors are subject to change. This information is not investment advice and should only be used in conjunction with a discussion with your RBC advisor. None of the Companies, RMFI, Royal Bank of Canada nor any of its affiliates nor any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of this report or the information contained herein. In certain branch locations, one or more of the Companies may carry on business from premises shared with other Royal Bank of Canada affiliates. Notwithstanding this fact, each of the Companies is a separate business and personal information and confidential information relating to client accounts can only be disclosed to other RBC affiliates if required to service your needs, by law or with your consent. Under the RBC Code of Conduct, RBC Privacy Principles and RBC Conflict of Interest Policy confidential information may not be shared between RBC affiliates without a valid reason.
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