RBC Wealth Management – U.S. expands and enhances benefits for a modern workforce and their families



Resources Help Employees Balance Work and Personal Life

MINNEAPOLIS, Minnesota (May 8, 2019) – In an effort to better support the needs of today’s workforce, RBC Wealth Management – U.S. is proud to announce several significant additions and enhancements to its benefits offering.

“In order to fully promote diversity and inclusion, we must ensure that our benefits take into account the complex lives of a diverse employee base,” said Shareen Luze, senior director of human resources for RBC Wealth Management. “That includes supporting working parents so they can thrive in their careers while also caring for their families.”

The firm has collaborated with Milk Stork, a service that makes work trips easier for nursing mothers by providing cooler kits, postage and shipping supplies to allow them to safely ship or carry breast milk home. RBC completely covers the cost of this service, which is now available to all of its U.S. benefit-eligible employees when they are traveling for business.

Beginning this summer, the firm will also make center-based back-up childcare available to all employees across the U.S. An in-home back-up care option for children, including those who are mildly ill, will also be available.

“Balancing work and home life can sometimes be difficult,” Luze added. “This new service will give working parents the peace of mind that the next time school is closed, the sitter is on vacation or they are between childcare arrangements, high-quality back-up care is available.”

Recognizing that modern families increasingly include heads of household caring for elderly relatives or vulnerable adults, RBC Wealth Management has extended the in-home back-up care benefit to include care of adults. According to a new Ipsos survey conducted on behalf of RBC Wealth Management, one in five (19%) American adults currently assists an older family member. Specifically, 17 percent regularly help with chores, cooking, cleaning or traveling to appointments, 5 percent provide housing and 5 percent offer financial support.

“With chronic disease and cognitive decline on the rise, more and more families are caring for their parents and other adult relatives,” Luze said. “Just as we aim to support the parents among our ranks, we believe it is important to support our colleagues who are caregivers for adults in their families.”

These benefits are the newest in a robust package of options available to RBC Wealth Management employees. Others include:

  • RBC Living Well: Employees can participate in individual, group and coaching activities to improve their well-being and earn incentives.
  • Prime Fitness: Through this program, RBC employees can join participating gyms at no cost.
  • Leaves of Absence: RBC offers up to 12 weeks of paid maternity leave to birth mothers. Additional paid and unpaid leaves are available when employees need extended time away from work, including Parental Leave, Family and Medical Leave, Personal Leave, Bereavement Leave, Military Leave and more.
  • RBC EmployeeCare Program: This program provides no-cost, confidential support to help employees and their dependents manage work-life stress, family issues, financial concerns, substance abuse, legal issues and more.
  • Family Planning Benefits: Employees are eligible for financial assistance with adoption, as well as a variety of infertility support options, from medications to surgery.
  • Expert Medical Opinion Program: Eligible employees and their dependents can use this no-cost service to get advice from renowned doctors who review and recommend the best treatment options.

“At RBC Wealth Management, we are committed to earning the privilege of being our employees’ first choice as a place to work,” said Luze. “Our goal is to support each employee as a whole person, and that means making our workplace more flexible to support them at different stages of life.”

About RBC Wealth Management – U.S.

In the United States, RBC Wealth Management operates as a division of RBC Capital Markets, LLC. Founded in 1909, RBC Capital Markets, LLC is a member of the New York Stock Exchange, the Financial Industry Regulatory Authority, the Securities Investor Protection Corporation, and other major securities exchanges. RBC Wealth Management has $358 billion in total client assets with approximately 1,800 financial advisors operating in 200 locations in 42 states.

Media Contacts:

Jonell Lundquist, RBC Wealth Management, 612-371-2239, Jonell.lundquist@rbc.com
Nicole Garrison, RBC Wealth Management, 612-371-2999, Nicole.garrison@rbc.com