Kris Olsen - RBC Wealth Management - About RBC Wealth Management (2024)

FAQs

How much money do you need for RBC Wealth Management? ›

Our client profile

RBC Private Banking clients are typically business owners, entrepreneurs, wealthy families, corporate executives or other professionals with a minimum of $1 million in investable assets or an overall net worth of $3 million.

Founded in 1869, Royal Bank of Canada (RBC) is a diversified global financial services company and leading provider of wealth management, insurance, corporate and investment banking, mortgage origination, trust services, personal and commercial banking, and online banking.

Investment and insurance products offered through RBC Wealth Management are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount ...

We acknowledge that, when we provide investment advice to you regarding your retirement plan account or individual retirement account (“IRA”) that is held at RBC WM, we are fiduciaries within the meaning of Title I of ERISA and/or the Code, as applicable.

Any minimums in terms of investable assets, net worth or other metrics will be set by individual wealth managers and their firms. That said, a minimum of $2 million to $5 million in assets is the range where it makes sense to consider the services of a wealth management firm.

Early Access to RBC Private Banking: The standard RBC Private Banking requirement for eligible clients to have a net worth of $3 million or a minimum of $1 million in investable assets will be waived.

Citibank's Citigold Private Client (CPC) program has been named the "Best Bank for High-Net-Worth Families" by Kiplinger's for five consecutive years. This prestigious recognition highlights Citibank's commitment to providing exceptional service and comprehensive wealth management solutions to affluent clients.

Wealth Management employees have rated RBC with 4.8 out of 5 stars, based on 43 company reviews on Glassdoor. This indicates that most Wealth Management professionals have an excellent working experience there.

You might not need a wealth manager if you have clear goals and are confident you can create and implement strategies to protect and grow your wealth. However, a wealth manager may be a good idea if you have substantial assets, would benefit from an expert, and have questions you need help answering.

About RBC Wealth Management – U.S.

RBC Wealth Management has $515 billion in total client assets with more than 2,100 financial advisors operating in 187 locations in 42 states.

How do RBC financial advisors get paid? ›

The estimated total pay range for a Financial Advisor at RBC is $60K–$73K per year, which includes base salary and additional pay. The average Financial Advisor base salary at RBC is $60K per year. The average additional pay is $8K per year, which could include cash bonus, stock, commission, profit sharing or tips.

Founded in 1864, RBC is the 8th largest bank globally and the 5th largest in North America, as measured by market capitalization. RBC is among a small group of highly rated global banks and is recognized time and time again for its financial strength, market leadership, and philanthropic work.

Wealth managers typically work with individuals, families, and entities who have a higher-than-average net worth. The barrier to entry will vary from one wealth manager to another. It could be as low as $250,000, or as high as $1 million and beyond.

The estimated total pay range for a Generalist at RBC is $105K–$114K per year, which includes base salary and additional pay. The average Generalist base salary at RBC is $100K per year.

No-load funds with low investment minimums (typically $500 per fund).