Expert advice on business succession a key concern for high net worth business owners: RBC Wealth Management survey

Expert advice on business succession a key concern for high net worth business 
owners: RBC Wealth Management survey 
TORONTO, Nov. 28, 2012 /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 services." 
"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. 
Bev MacLean, RBC Wealth Management Communications, 416 974-9334 
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CO: RBC Wealth Management
ST: Ontario
-0- Nov/28/2012 17:21 GMT
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