How do I qualify for RBC Private Banking?

How do I qualify for RBC Private Banking?

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.

What is the cost of RBC Private Banking?

Full Rebate of Standard RBC Private Banking Package: the standard $125 RBC Private Banking monthly fee will be rebated each month3.

How much money do you need for private banking in Canada?

In general the private banking minimum requirements is that you have $1 million in investable assets or $3 million in total net worth. What is this? So if you are a house rich (and fluid asset poor) Vancouverite with a big mortgage and under $3 million net worth, you won’t qualify.

What does RBC Private Banking do?

Mobile Private Banking meeting our clients at their preferred location, as well as, priority service at all RBC Branches. Borrowing solutions 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.

How much money do you need for private banking?

Having at least $250,000 (or more) in investable assets is the minimum you will need to sign up for private banking.

Is a private banker worth it?

Private banking is designed for high net worth individuals who need a lot of services and personalized attention. If that’s you, and you value the convenience and dedicated service of private banking, it could be a good option despite the cost.

Who Has the Best Private Banking in Canada?

RBC Canadian Private Banking tops the rankings in Canada in 21 out of 34 categories, including Services for High Net Worth Clients ($1 million to $30 million); Relationship Management; Inheritance and Succession Planning; Specialized Services for Corporate Executives, Inherited Wealth and Business; and Range of …

Which bank has the best private banking in Canada?

Is a private bank worth it?

Key takeaways. A private banker offers specialized banking services to high net worth individuals. Typical specialized banking services include investments, trusts and loans. Private banking may be a good option for affluent clients who need a range of services but prefer to bank at one institution.

What are the advantages of private banking?

Advantages of private banking and wealth management

• A dedicated representative.
• Ability to connect with a network of specialists.
• Personal attention.
• Perks, freebies and potentially better pricing.
• Business benefits.
• You may be losing out on interest.
• High management fees.
• Private bankers come and go.