RBC Wealth Management Reviews

The Royal Bank of Canada has effectively managed the wealth of many individuals as a part of the RBC Capital Markets. As a result, people have developed a trust in these people due to their effectiveness, and their popularity spans across the United States. Although other financial institutions may also be into wealth management, we can tell you that the RBC is one of the largest. And, its popularity is what constantly gives them clients. Many people have the mentality that they will not want to dent their reputation. Hence, their services will keep improving.

Key Takeaways

• Wealth management refers to the management of your financial life by professionals
• RBC wealth management is one of the best organization that offers wealth management services
• RBC wealth management organization has low minimum investment requirements and it is $2500
• Key services offered by RBC wealth management are pension services, retirement management, portfolio management, insurance management, tax management, etc.  

Understandably, this may be the first time you are hearing about wealth management, and you are confused about the mechanics. Wealth management refers to the management of your financial life by professionals. So, you have money, but you do not want it to go down the drain. Thus, it would be best to have advice on handling and managing your money, which is where a wealth manager comes to play. Therefore, you are on the lookout for the best organization that offers wealth management services, and we commend RBC wealth management.

So far, people have always commended the RBC wealth management organization as it offers low minimum investment. It means that you do not need to have a large sum before you can engage their services. So, for example, if you have up to $2500, you can be their client. So, yes, $2500 is the minimum amount of money you should have before engaging this firm.

The only complaint people have about the RBC wealth management is its long list of fines. Sometimes, people do not understand all the terms and conditions, and they falter in some areas. Of course, every action comes with consequences, so they pay fines when they falter. It will come in handy if the RBC wealth management firm can make their terms simpler and clearer to their clients.

Below is a summary of some conditions attached to using the RBC wealth management firm:

Factor	RBC Wealth Management
Advice Fee	2.5% for accounts that value at $2,500 – $24,999,999. Negotiable for accounts that value more than $24,999,999
Minimum Entry Amount	$2500

Services Offered By RBC Wealth Management

Here are some of the services you will enjoy when you engage the services of RBC wealth management:

Pension Services: Typically, employers have funds that they keep aside for their employees, gearing towards retirement. The goal is for the employee to have money even when they are retired. Therefore, you will need help in managing your pension funds, and that is where you need the help of the RBC. RBC wealth management firm advises its clients on what they can do with their pension funds as they do not want their clients to squander the money. They could advise on the best investments and much more. They aim to build up their client to have an enjoyable retirement life.

Retirement Management: Now, you may be wondering the difference between pension and retirement services. With the pension services, they give you advice on what to do with your pension funds. But with retirement management, they dialogue with you and make plans to spend your retirement years. So, what do you think about engaging in things that will give you money even during retirement? Yes, it is possible, and you can know the various activities when you get advice from your wealth managers. For example, the RBC wealth management firm presents its clients with different retirement plans, and you get to pick your preferred option. From there, you pick a journey with your wealth manager.

Portfolio Management: For example, suppose you are the type that usually dabbles into different types of investments like stocks or estate management. Of course, you will have a portfolio, and you need help in managing this portfolio. It is one thing to have different investments, but it is another thing to ensure that your various investments are doing the work they are supposed to do. Undoubtedly, there would be risks and some unforeseen circumstances. But when you work with your wealth manager, you get solutions to these hurdles, and your investments will meet their long-term goals. We know that you would be happy when your investments present you with a high ROI.

Insurance Management: It is an unwise decision for anyone not to have insurance plans in our current society. Your insurance plans can cover an array of things, including health. Without a doubt, health challenges are unpredictable, and it would come in handy if you have health insurance. After all, you do not want these health challenges to clear your life savings. So, working with a wealth manager lets you collaborate with the best insurance agencies around you, and they also help you monitor the insurance agency. In case of anything, your wealth manager ensures that the insurance agency plays its role to ensure that everyone is happy. So, it is not out of place to call your wealth manager the middleman man between you and your insurance agency.

Tax Management: It is a no-brainer that every law-abiding citizen must pay certain applicable taxes. Else, you will get into trouble with the authority, and we know that no one wants to go through such stress. To save yourself or this embarrassment, you can decide to engage the services of a wealth manager. Now, your wealth manager can help you save even while you pay taxes. They come up with strategies that help you pay the lowest tax. The goal is to ensure that you are not charged exorbitantly or spend all your earnings paying tax. So, they get the cheapest way for you while still ensuring that you are a law-abiding citizen.

People Who Can Engage The Services Of RBC Wealth Management Organization

So, a person may feel that they are not up to par with those who engage the services of the RBC wealth management firm, but that is not true. We are here to tell you that anyone can engage their services, be you an individual or organization. 

Typically, we see that most of their clients are individuals. But other people who can engage their services are:

1. Banking institutions 

2. Trusts and estates

3. Insurance companies 

4. Pension schemes

5. Governmental organizations

6. Charity organizations 

7. Businesses, etc.

The goal is to ensure that all organs can effectively manage their finances and even make more money for them in the long run.

Jurisdiction Of RBC Wealth Management Firm

Yes, it is the Royal Bank of Canada. But, recall that we earlier mentioned how their services cut across the United States. So, therefore, you cannot say that it is limited to Canada alone. 

If you did not know, RBC is a global bank. Thus, it is only normal that their wealth management services also cover different regions.

Some of the places that enjoy the services as well are:

1. Minnesota 

2. Texas

3. Oregon

4. Arizona

5. Kansas

6. Colorado

7. Maryland

8. Washington

9. Pennsylvania

10. California, etc.

It is a long list, so we cannot highlight all of them. But we can assure you that you can engage their services if you are in or around Canada and the United States.

How To Engage The Services Of The RBC 

So, if you are already considering engaging the services of the RBC wealth management firm, we know that you will want to know how to go about it.

Many people do not go ahead with engaging the services of wealth managers because of the stress involved in the process. Understandably, no human likes stress. But, allow us to tell you that it is not stressful when it concerns RBC wealth management.

First, you need to reach out to them. It could be via their website, phone number, or email address. This process lets you signify your interest in engaging their services.

After that, they will send you a form to fill. The form contains questions about your details so that they can easily reach out to you.

Also, they will need to connect you with an advisor, so you will need to fill another form. Here, you will answer more in-depth questions like stating your financial goals and much more. Thus, these streamlined questions allow them to connect you with an advisor.

As you can see, it is not a stressful process.

FAQs

Here are some questions people ask about RBC wealth management 

Summary

RBC wealth management has only positive reviews, and you should start using them now.

References:

1. https://www.magnifymoney.com/blog/investing/rbc-wealth-management-review-ria/
2. https://www.yelp.com/biz/rbc-wealth-management-san-jose

Last Updated on October 24, 2022 by Magalie D.