The holiday season is often a time to reflect on what we’ve accomplished over the year. It is also a good time to think about planning for your financial future, taking care of your family and giving back to your community.
In this issue of Perspectives, we will explore unique wealth challenges faced by Baby Boomers and how everything from estate and wealth transfer planning to business succession planning can help reduce some of the pressure families may be feeling. In addition, we will discuss the considerations for effectively choosing the right executor and the importance of having a Will. While this may be an emotional topic for many, it’s a crucial step to protecting yourself and your loved ones.
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We also feature articles that highlight how giving is an important part of leaving a legacy. In “Bringing new meaning to giving,” we look at how adopting a more structured planning approach to giving can help individuals achieve their objectives while expressing their values. And we also discuss the benefits of having a formal plan in place for giving personal treasures, collections and property.
Ensuring younger generations have a strong foundation of financial literacy is also essential to protecting your personal wealth, as well as Canada’s future prosperity. In “The roots of success,” we discuss the importance of nutrition in healthy brain development and the impact being physically active has on learning. Finally, this issue provides information on the new RBC Wealth Management Financial Literacy Program coming in 2018, which will offer youth a comprehensive, structured approach to building sound financial management skills.
I encourage you to speak with your RBC Wealth Management advisor about any of the topics covered in these articles and to learn more about RBC’s wealth management strategies and how they can work for you and your family.
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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