{"id":26344,"date":"2024-12-04T10:35:38","date_gmt":"2024-12-04T15:35:38","guid":{"rendered":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/?p=26344"},"modified":"2024-12-04T10:41:38","modified_gmt":"2024-12-04T15:41:38","slug":"how-private-banking-can-help-families-prepare-the-next-generation-for-wealth","status":"publish","type":"post","link":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/how-private-banking-can-help-families-prepare-the-next-generation-for-wealth","title":{"rendered":"How private banking can help families prepare the next generation for wealth"},"content":{"rendered":"\n

The sight of children walking wide-eyed across RBC\u2019s trading floor isn\u2019t quite as unusual as you might think.<\/p>\n\n\n\n

A group of kids aged from five to 15 recently toured space in Toronto as part of financial literacy month in November, arranged for the extended family of an RBC Private Banking client. \u201cIt was meant to be lots of fun with games and active elements, all infused with an honest discussion around financial values,\u201d says Jennifer Wood, an RBC private banker who helped organize the event.<\/p>\n\n\n\n

Those talks can lead to deeper financial discussions with the parents about their own financial planning<\/a>, she adds. The event left a strong impression, with these types of soft services attractive to high-net-worth families.<\/p>\n\n\n\n

\u201cPrivate banking is about the trusted, personal relationships we make with our clients,\u201d Ms. Wood says.<\/p>\n\n\n\n

This relationship combines with a strong lineup of tailored products or services to satisfy clients. \u201cIt\u2019s about profoundly understanding their complex needs.\u201d<\/p>\n\n\n\n

Instilling values\u2014and financial literacy\u2014in the next generation<\/h2>\n\n\n\n

One of the most complicated, yet necessary, needs within high-net-worth families is figuring out how to manage intergenerational wealth. Wealth transfers<\/a> are periods in time when past financial decisions bear fruit and new decisions are made. Through it all, a central question looms large: is the next generation ready to handle what\u2019s coming?<\/p>\n\n\n\n

Many private banking clients have net worths of several million dollars, encompassing sizable investment portfolios, significant real estate and numerous business interests. They want a tax-efficient transfer of assets from one generation to the next, and they want to not only preserve but grow their wealth over time.<\/p>\n\n\n\n

These clients also seek to instill values around wealth in the next generation, to ensure they will become good stewards of the family\u2019s fortune. \u201cThat really speaks to their desire for wealth to promote family harmony,\u201d says Kim Mason, executive vice president and head of RBC Private Banking Canada.<\/p>\n\n\n\n

Clients want the best outcomes possible for their children and grandchildren. That often involves ensuring their financial and emotional well-being are supported by values and financial literacy<\/a>, helping them become well-rounded, independent and productive members of their community.<\/p>\n\n\n\n

\u201cOur clients will often ask us to help their family members get ready for this responsibility,\u201d Ms. Mason says.<\/p>\n\n\n\n

That can mean connecting clients with the right professionals to establish family office-style structures, such as governance and shareholder agreements, and family councils. If clients already have family offices<\/a>, private bankers work with these entities hand-in-glove to facilitate whatever is required to build succession, estate and business transition plans<\/a> that protect a healthy family dynamic, Ms. Wood says.<\/p>\n\n\n\n

\u201cWhen we first meet with a client, we look at their situation as a family, not just the individual or the couple,\u201d she says. \u201cIt\u2019s about understanding the big picture first, and then figuring out how we can help.\u201d<\/p>\n\n\n\n

The importance of preparing children for wealth transfer<\/h2>\n\n\n\n

RBC Private Banking\u2019s comprehensive approach aims to help families address intergenerational wealth challenges from the start, recognizing that preparing for generation two or even three doesn\u2019t happen overnight.<\/p>\n\n\n\n

\u201cGood, meaningful learning takes time,\u201d says Stephanie Dean, manager of Financial Literacy for RBC Family Office Services.<\/p>\n\n\n\n

Private bankers often call on their team to help clients with financial education for their family members. It\u2019s a big task; one that\u2019s challenging for individuals to do alone.<\/p>\n\n\n\n

\u201cMany families take it upon themselves to educate their children about money, wealth and the family business. Parents are always juggling priorities, and for every 10 things they address, there may be three or four they\u2019re missing. That\u2019s where we step in to help fill those gaps,\u201d says Ms. Dean.<\/p>\n\n\n\n

When it comes to preparing the next generation, RBC private bankers emphasize the need to be proactive. \u201cThe ideal scenario is when parents are thinking well ahead about succession<\/a>,\u201d Ms. Wood notes. That way, fewer surprises are likely to emerge, like parents realizing at the last minute that their adult children have no interest in taking over the family business.<\/p>\n\n\n\n

\u201cWhen we’re building relationships of trust not just with parents but with their kids, we help clients avoid those scenarios,” Ms. Wood concludes.<\/p>\n\n\n\n

\n

Let’s plan for your success<\/strong><\/h4>\n\n\n\n

Discover how RBC Private Banking can help you prepare your family to meet their future financial responsibilities with confidence.<\/p>\n\n\n\n

\nLEARN MORE<\/a>\n<\/div>\n<\/div><\/div><\/div><\/section>\n\n\n\n

This article was originally published in <\/em>The Globe and Mail <\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

It pays to be proactive when it comes to discussing wealth transfer and succession with children.<\/p>\n","protected":false},"author":22,"featured_media":26348,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rbcwm_post_date":"","editor_notices":[],"rbc_url_alias":"","rbcwm_featured_desktop_image_position":"","rbcwm_featured_mobile_image_position":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[64,239],"tags":[50,708,273],"rbcwm_content_owner":[],"rbcwm_need":[84],"rbcwm_segment":[66],"rbcwm_solution":[82],"rbcwm_topic":[94],"rbcwm_channel":[],"rbcwm_format":[],"class_list":["post-26344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-literacy","category-wealth-transfer","tag-financial-literacy","tag-private-banking","tag-wealth-transfer","rbcwm_need-protect","rbcwm_segment-individuals-and-families","rbcwm_solution-wealth-planning","rbcwm_topic-your-wealth"],"acf":{"rbcwm_subtitle":"It pays to be proactive when it comes to discussing wealth transfer and succession with children.","rbcwm_post_author":"","rbcwm_custom_breadcrumb_text":"","rbcwm_custom_breadcrumb_link_url":"","rbcwm_disclaimers":{"add_disclosures":"","perspective_disclaimer":"","expandable":"","omit_from_pages":[],"disclaimer_footnote":"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 \u201cCompanies\u201d) and their affiliate, Royal Mutual Funds Inc. (RMFI). Member \u2013 Canada Investor Protection Fund. Each of the Companies, RMFI and Royal Bank of Canada are separate corporate entities which are affiliated. \u201cRBC advisor\u201d refers to Private Bankers who are employees of Royal Bank of Canada and licensed representatives of RMFI, Investment Counsellors who are employees of RBC Phillips, Hager & North Investment Counsel Inc., Portfolio Managers who are employees 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 licensed 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. \" \u00ae \/ \u2122 Trademark(s) of Royal Bank of Canada. Used under licence. \u00a9 Royal Bank of Canada. (insert applicable year). All rights reserved."},"rbcwm_insight_cta_id":[11937],"rbcwm_pagination":{"next_link":"","next_link_text":"Next article","previous_link":"","previous_link_text":"Previous article"},"rbcwm_video_duration":"","article_time":"","rbcwm_enable_toc":false,"rbcwm_toc_selector":"h2"},"yoast_head":"\nHow private banking can help families prepare the next generation for wealth<\/title>\n<meta name=\"description\" content=\"It pays to be proactive when it comes to discussing wealth transfer and succession with children.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How private banking can help families prepare the next generation for wealth\" \/>\n<meta property=\"og:description\" content=\"It pays to be proactive when it comes to discussing wealth transfer and succession with children.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/how-private-banking-can-help-families-prepare-the-next-generation-for-wealth\" \/>\n<meta property=\"og:site_name\" content=\"RBC Wealth Management\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-04T15:35:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-04T15:41:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/scl-laughing-family-on-couch-How-Private-banking-can-help-families-hor-EN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"chloetejada\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/how-private-banking-can-help-families-prepare-the-next-generation-for-wealth\"},\"author\":{\"name\":\"chloetejada\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/person\/c2bb0a72d12219d75bf7f724d256ed9c\"},\"headline\":\"How private banking can help families prepare the next generation for wealth\",\"datePublished\":\"2024-12-04T15:35:38+00:00\",\"dateModified\":\"2024-12-04T15:41:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/how-private-banking-can-help-families-prepare-the-next-generation-for-wealth\"},\"wordCount\":745,\"publisher\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/laughing-family-on-couch-How-3210x2140-1.jpg\",\"keywords\":[\"financial literacy\",\"private banking\",\"wealth transfer\"],\"articleSection\":[\"Financial literacy\",\"Wealth transfer\"],\"inLanguage\":\"en-CA\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/how-private-banking-can-help-families-prepare-the-next-generation-for-wealth\",\"url\":\"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/\",\"name\":\"How private banking can help families prepare the next generation for wealth\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/laughing-family-on-couch-How-3210x2140-1.jpg\",\"datePublished\":\"2024-12-04T15:35:38+00:00\",\"dateModified\":\"2024-12-04T15:41:38+00:00\",\"description\":\"It pays to be proactive when it comes to discussing wealth transfer and succession with children.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#primaryimage\",\"url\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/laughing-family-on-couch-How-3210x2140-1.jpg\",\"contentUrl\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/laughing-family-on-couch-How-3210x2140-1.jpg\",\"width\":3210,\"height\":2140,\"caption\":\"A family of four is laughing on a green couch inside a living room. On the far left is a young woman, with curly brown hair. She is laughing with her eyes closed. She is wearing a green jean button up shirt and blue jeans. Beside her is her mom, who has dark brown skin and dark brown curly hair and is wearing a blue and white striped top and blue jeans. The mom is smiling at her youngest daughter. That daughter is laughing and looking up at her mom and holding her around the waist. She has brown skin, curly brown hair and is wearing a blue and white long sleeve sweater. Beside her is the dad. He has short light brown hair and a beard. He is smiling at his wife and two daughters. He is wearing a light blue long-sleeve button up shirt and dark blue jeans.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How private banking can help families prepare the next generation for wealth\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#website\",\"url\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/\",\"name\":\"RBC Wealth Management\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#organization\",\"name\":\"RBC Wealth Management\",\"alternateName\":\"RBC Wealth Management\",\"url\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/02\/rbc.png\",\"contentUrl\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/02\/rbc.png\",\"width\":3000,\"height\":2000,\"caption\":\"RBC Wealth Management\"},\"image\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/person\/c2bb0a72d12219d75bf7f724d256ed9c\",\"name\":\"chloetejada\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0b3dde7a1d86146de8471500a717b01fe28aa3a67f2ccf8021ba2d1a62ea01df?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0b3dde7a1d86146de8471500a717b01fe28aa3a67f2ccf8021ba2d1a62ea01df?s=96&d=mm&r=g\",\"caption\":\"chloetejada\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"How private banking can help families prepare the next generation for wealth","description":"It pays to be proactive when it comes to discussing wealth transfer and succession with children.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for","og_locale":"en_US","og_type":"article","og_title":"How private banking can help families prepare the next generation for wealth","og_description":"It pays to be proactive when it comes to discussing wealth transfer and succession with children.","og_url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/how-private-banking-can-help-families-prepare-the-next-generation-for-wealth","og_site_name":"RBC Wealth Management","article_published_time":"2024-12-04T15:35:38+00:00","article_modified_time":"2024-12-04T15:41:38+00:00","og_image":[{"width":1200,"height":627,"url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/scl-laughing-family-on-couch-How-Private-banking-can-help-families-hor-EN.jpg","type":"image\/jpeg"}],"author":"chloetejada","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#article","isPartOf":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/how-private-banking-can-help-families-prepare-the-next-generation-for-wealth"},"author":{"name":"chloetejada","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/person\/c2bb0a72d12219d75bf7f724d256ed9c"},"headline":"How private banking can help families prepare the next generation for wealth","datePublished":"2024-12-04T15:35:38+00:00","dateModified":"2024-12-04T15:41:38+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/how-private-banking-can-help-families-prepare-the-next-generation-for-wealth"},"wordCount":745,"publisher":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#organization"},"image":{"@id":"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/laughing-family-on-couch-How-3210x2140-1.jpg","keywords":["financial literacy","private banking","wealth transfer"],"articleSection":["Financial literacy","Wealth transfer"],"inLanguage":"en-CA"},{"@type":"WebPage","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/how-private-banking-can-help-families-prepare-the-next-generation-for-wealth","url":"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/","name":"How private banking can help families prepare the next generation for wealth","isPartOf":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#primaryimage"},"image":{"@id":"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/laughing-family-on-couch-How-3210x2140-1.jpg","datePublished":"2024-12-04T15:35:38+00:00","dateModified":"2024-12-04T15:41:38+00:00","description":"It pays to be proactive when it comes to discussing wealth transfer and succession with children.","breadcrumb":{"@id":"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/"]}]},{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#primaryimage","url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/laughing-family-on-couch-How-3210x2140-1.jpg","contentUrl":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/laughing-family-on-couch-How-3210x2140-1.jpg","width":3210,"height":2140,"caption":"A family of four is laughing on a green couch inside a living room. On the far left is a young woman, with curly brown hair. She is laughing with her eyes closed. She is wearing a green jean button up shirt and blue jeans. Beside her is her mom, who has dark brown skin and dark brown curly hair and is wearing a blue and white striped top and blue jeans. The mom is smiling at her youngest daughter. That daughter is laughing and looking up at her mom and holding her around the waist. She has brown skin, curly brown hair and is wearing a blue and white long sleeve sweater. Beside her is the dad. He has short light brown hair and a beard. He is smiling at his wife and two daughters. He is wearing a light blue long-sleeve button up shirt and dark blue jeans."},{"@type":"BreadcrumbList","@id":"https:\/\/www.theglobeandmail.com\/investing\/adv\/article-how-private-banking-can-help-families-prepare-the-next-generation-for\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/"},{"@type":"ListItem","position":2,"name":"How private banking can help families prepare the next generation for wealth"}]},{"@type":"WebSite","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#website","url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/","name":"RBC Wealth Management","description":"","publisher":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":"Organization","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#organization","name":"RBC Wealth Management","alternateName":"RBC Wealth Management","url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/","logo":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/logo\/image\/","url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/02\/rbc.png","contentUrl":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/02\/rbc.png","width":3000,"height":2000,"caption":"RBC Wealth Management"},"image":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/person\/c2bb0a72d12219d75bf7f724d256ed9c","name":"chloetejada","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0b3dde7a1d86146de8471500a717b01fe28aa3a67f2ccf8021ba2d1a62ea01df?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0b3dde7a1d86146de8471500a717b01fe28aa3a67f2ccf8021ba2d1a62ea01df?s=96&d=mm&r=g","caption":"chloetejada"}}]}},"jetpack_featured_media_url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2024\/11\/laughing-family-on-couch-How-3210x2140-1.jpg","jetpack_sharing_enabled":true,"publishpress_future_action":{"enabled":false,"date":"2026-05-03 22:45:13","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"RBC Wealth Management","distributor_original_site_url":"https:\/\/www.rbcwealthmanagement.com\/en-ca","push-errors":false,"last_revision_date":"2024-11-28 14:19:53","_links":{"self":[{"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/posts\/26344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/comments?post=26344"}],"version-history":[{"count":9,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/posts\/26344\/revisions"}],"predecessor-version":[{"id":26355,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/posts\/26344\/revisions\/26355"}],"acf:post":[{"embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/rbcwm_cta\/11937"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/media\/26348"}],"wp:attachment":[{"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/media?parent=26344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/categories?post=26344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/tags?post=26344"},{"taxonomy":"rbcwm_content_owner","embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/rbcwm_content_owner?post=26344"},{"taxonomy":"rbcwm_need","embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/rbcwm_need?post=26344"},{"taxonomy":"rbcwm_segment","embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/rbcwm_segment?post=26344"},{"taxonomy":"rbcwm_solution","embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/rbcwm_solution?post=26344"},{"taxonomy":"rbcwm_topic","embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/rbcwm_topic?post=26344"},{"taxonomy":"rbcwm_channel","embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/rbcwm_channel?post=26344"},{"taxonomy":"rbcwm_format","embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/rbcwm_format?post=26344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}