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
NI: FIN ECOSURV
-0- Nov/28/2012 17:21 GMT
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