Competitor Profile: RBC Wealth Management

Summary

Headquartered in Toronto, Canada, Royal Bank of Canada (RBC) Wealth Management is one of the five main business segments of RBC, the largest commercial bank in the country. This segment has four divisions, including the company’s Global Asset Management unit. RBC Wealth Management has 1,750 investment advisors in Canada and 1,900 financial advisors in the US. It also maintains offices in seven other countries.

This report provides a comprehensive analysis of RBC’s wealth management operations. It offers insight into the company’s strategy and financial performance, including key data on assets under management (AUM). Customer targeting and service proposition are covered, as are product innovation and marketing activities.

Scope

• RBC Wealth Management mainly caters to HNW and UHNW clients. However, the business segment also extends its offering to affluent individuals with lower investable assets, covering all key segments in the wealth market in Canada and the US, where it has a retail bank network.
• Since its large US acquisition in 2015, the bank has focused on organic growth. It is ramping up its advisor base in key markets to attract more business and aims to employ more female advisors.
• RBC Group has maintained a steady financial performance over the years. Its wealth management business remained the best performing segment in 2018.
• RBC Wealth Management’s strategy in Asia is to cater to global families in order to tap into the fast-growing wealth and number of HNW individuals in the region.

Reasons to buy

• Examine the financial performance, key ratios, and AUM growth for RBC and its Wealth Management division, and benchmark this competitor against other global wealth managers.
• Understand RBC Wealth Management’s current strategic objectives and their impact on financial performance.
• Discover RBC Wealth Management’s key products and client targeting strategies and examine whether these have been successful.
• Learn more about RBC Wealth Management’s marketing strategy, social media presence, and digital innovations.