Private Banking

private banking

At RBC Private Banking our main priority is you and your family. By bringing all of our people under one roof you will benefit from a unique personalized service which is hassle-free and saves you time and money. You will also have a qualified and experienced expert manage your financial affairs.

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Our Private Banking philosophy revolves around our personal relationships with each of our clients. We take time getting to know you, your family and your goals.

Then, using our exclusive wealth planning process, we’ll complete a multi-step analysis of your liquidity, debt and risk management, investments and estate plan. Next, we distil this understanding of you and your family into a wealth plan that addresses your needs today and helps you create the path to a better future.

Finally, we bring the experts together from within and outside RBC to actualize each aspect of your plan.

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As a Private Banking client your Private Banker will be the first in line to deliver your Private Banking experience. Your Private Banker is supported by a dedicated Private Banking Associate and a credit solutions team. Collectively, their purpose is to help you achieve your goals while assisting you with the ongoing management of your finances.

Our Private Banking team works individually with each client, drawing upon the full resources of RBC to create sophisticated banking and tailored credit solutions, for individuals and families who are dealing with multiple income streams and often require complex solutions.

Our Client Profile

Private Banking clients are typically business owners, wealthy families, executives or professionals with $1,000,000 (local currency) or more in investable assets or business volume (including mortgages) and/or family income of at least $300,000 (local currency) per annum.

Each client receives ongoing, tailored Private Banking solutions, created by a dedicated team and encompassing a minimum monthly fee.

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As a Private Banking client you will experience the highest level of care, which includes:

  • Personalized service at our Private Banking Centre
  • A dedicated relationship manager – your Private Banker – who acts as your advocate throughout all areas of RBC and accepts your instructions by telephone, fax or email and setting-up of permanent instructions
  • Access to a comprehensive and ongoing review of your full wealth needs, and those of your family and/or business(es), including succession and estate planning
  • Credit facilities designed specifically for the high net worth client, such as customized structuring of credit facilities and higher limits on RBC personal and business credit cards.
    Your credit vehicles may include:
    • Line of Credit facility with no maximum limit
    • Black or Platinum Card with no annual membership fee
    • Customized structuring of credit facilities with preferential pricing
    • Financial solutions for complex credit needs
    • Leveraging debt to increase net worth
    • Flexible long/short term lending solutions
    • Financing on second homes, construction or investor properties
    • Letters of credit
    • Foreign exchange credit lines
  • Private Banking Operational Account PLUS a combination of any three of the following accounts for one flat monthly fee:
    • Day to Day Savings
    • Day to Day Banking
    • RBC Enhanced Savings
    • RBC High Interest Bearing eSavings Account
    • Business Current Account (for Trust/Holding companies only)
  • In addition to the four (4) accounts comprising the basic Private Banking package, each dependent child within your household under the age of 18 and/or each full time student under the age of 25 is entitled to a free RBC Leo’s Young Savers Account or Student Banking Account, as part of your Private Banking package.
  • Specially designed Private Banking personalized cheques
  • Customized daily limits at Automated Teller Machines (ATM) and Point-of-Sale (POS) terminals
  • Free rental of a small safe deposit box or equivalent discount on a larger safe deposit box
  • International access to ATMs and POS through RBC Royal Bank Visa Debit
  • No service charges on:
    • Standing orders
    • Certificate of account balance/ certificate of interest paid
    • Additional bank statements
    • Local and foreign currency drafts
    • Renewal/replacement of debit card

 

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We understand that keeping track of “the big picture” can be challenging when you’re busy leading an active life. That’s why the RBC Private Banking model provides you with a dedicated Private Banker, who is also an accredited financial advisor, supported by a dedicated Private Banking Associate and a Credit Specialist, to do it for you.

Each member of your team understands your complete financial picture and works closely with you to achieve your goals.

Combined Excellence

The unique advantage of having both a Private Banker and a Credit Specialist working close together is that you can be put on the fast track to responsive high-end credit vehicles.

Their combined expertise can help you to leverage credit to grow wealth, create personal equity in your company, acquire or diversify investment holdings, purchase real estate, provide financial assistance for family members or consolidate your existing lending.

Comprehensive Approach

While remaining your primary point of contact, your Private Banker is also able to draw upon the extended support of a diverse group of RBC professionals.

Instead of having to deal with multiple service providers, should you require the specialized services of an investment specialist or a commerical banker, that person will be included as part of your financial team.

Commitment to meet all of your high net worth needs

At RBC we take great pride in knowing that we’ve served generations of families. Our goal is to be your partner through all the stages of your financial life, and to create the vision you see for yourself, your family and your future.

We know you have choices when it comes to your financial partners and we will work to continually earn your business.

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If you prefer to take a more active role in your investments, your Private Banker will work with you and partner with wealth management experts and investment advisors to match your needs and the discretionary investment management you require.

You will have an unparalleled selection of investments to choose from – everything from government bonds, corporate bonds, international equities, mutual funds and derivatives.

Your Private Banker will help you choose which investments are right for your individual situation based upon your needs and preferences. Always keeping a watchful eye on your overall wealth management strategy, your Private Banker can captain a tailor-made team of specialists to meet your needs.

To keep things simple and personal, your Private Banker can remain your key point of contact for all of your RBC relationships.

The Private Banking Team Provides:

  • Estate Trust and Planning
  • Investment Management
  • Credit Strategies
  • Financial Literacy
  • Banking & Cash Management
  • Business Owner Planning
  • Credit Capability
  • Other Services

 

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