RBC Wealth Management, North America’s best private bank for high-net-worth (HNW) customers, is a clear industry leader in its home market, with the number one market share for HNW assets. The group is also a top 10 full-service brokerage firm in terms of assets and number of advisers in the US, which it regards as its second home. Its US wealth business continues to leverage the combined strengths of City National Bank, the US arm of RBC Wealth Management and RBC Capital Markets.
In Canada, it is hard to find an area of HNW banking where the firm doesn’t dominate – whether it is brokerage (measured by assets, revenue, profit or client advisers), discretionary investment management, estate and trust business, or insurance solutions.
RBC Private Insurance is sold through a new, specialist HNW insurance services team. The product suite provides clients with HNW property and casualty insurance products ranging from high-value homes, vehicles, cottages and boats, to snowmobiles and umbrella liabilities.