Expert advice on business succession a key concern for high net worth business …

— /CNW/ – Business succession has very quickly
become one of the top concerns identified by high net worth clients in
a second annual survey by RBC Wealth Management. At the same time,
retirement planning and tax minimization remain other key concerns
expressed by clients.

This survey was conducted by RBC Wealth Management as part of one-on-one
planning sessions with clients. In the past year, approximately 1,800
sessions were conducted across Canada wherein these concerns were
identified as the most pressing for high net worth clients.

“We are seeing a recent shift in the concerns of our high net worth
clients. While they continue to seek out advice on retirement planning,
and as part of that, tax minimization to ensure a successful
retirement, they are also now increasingly putting on their
business-owner hat and seeking out advice around the succession of
their business” said Howard Kabot, vice-president, Financial Planning,
RBC Wealth Management Services. “Business owners, because of
demographics and because of our offerings and expertise in this field,
are realizing issues around the successful transition of their business
are not only crucial to the future of their businesses but also to the
well-being of their own personal and family’s financial future.”

RBC Wealth Management has an in-house highly-specialized team of
professionals that are available to work with Wealth Management Canada
advisors and private bankers to offer high net worth clients a full
array of financial advice. The RBC Wealth Management Services team
provides access to a vast array of products and services geared towards
meeting the needs of high net worth clients, including business owners.

“Focusing on the needs of business owners has become a huge priority for
us,” said Anthony Maiorino, vice-president and head, RBC Wealth
Management Services. “To that end, we have created the Business Owner
Planning Team within RBC Wealth Management Services with best-in-class
experts specializing in the needs of business owners. In the last year,
high net worth business owners across Canada were offered the
opportunity to take advantage of complimentary Business Owner Planning
Sessions, which we feel has resulted in this increased demand for our

“RBC Wealth Management is unique in offering a complete end-to-end level
of highly specialized service to clients,” said Maiorino.

About RBC Wealth Management
RBC Wealth Management is one of the world’s top 10 largest wealth
managers. RBC Wealth Management directly serves affluent,
high-net-worth and ultra high net worth clients in Canada, the United
States, Latin America, Europe, the Middle East, Africa and Asia with a
full suite of banking, investment, trust and other wealth management
solutions. The business also provides asset management products and
services directly and through RBC and third-party distributors to
institutional and individual clients, through its RBC Global Asset
Management business (which includes BlueBay Asset Management). RBC
Wealth Management has more than C$562 billion of assets under
administration, more than C$324 billion of assets under management and
approximately 4,300 financial consultants, advisors, private bankers
and trust officers.



Wednesday, November 28th, 2012 EN

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