RBC Wealth Management: Who are they?
RBC Wealth Management is the wealth advisory arm of the Royal Bank of Canada (RBC) — one of the largest and most reputable financial institutions in North America with more than $265 billion in managed assets.
With roots going back over 150 years, RBC is not only Canada’s largest bank by market capitalization but also a globally respected financial powerhouse.
RBC Wealth Management operates in both Canada and the United States, serving high-net-worth individuals, families, and institutions with personalized wealth solutions.
Its philosophy revolves around delivering comprehensive financial planning and goal-based investment strategies, supported by a deep bench of in-house experts and global resources.
Assets under management:
$265,936,933,747
Fee:
Up to 3% AUM
Fee structure:
Wrap fee based on assets under management (AUM)
What does RBC Wealth Management offer?
RBC offers a broad range of wealth services, including:
Investment management: Custom portfolios, mutual funds, ETFs, equities, and fixed income.
Financial planning: Retirement, tax, education, and estate planning.
Insurance planning: Life and disability insurance, long-term care protection.
Private banking: Specialized lending and banking for affluent clients.
Trust and estate services: Intergenerational wealth planning, executor services, and charitable giving.
Lending and credit solutions: Manage cash flow, strategic financing, and access to flexible liquidity solutions.
Corporate executive services: Investment banking, institutional consulting, and retirement plan services.
These services are administered through separate management and private banking programs. Each is described below:
RBC Advisor Program: Clients are offered guidance from an advisor, but follow-through is on the client's end. Best for investors who want to be hands-on, but don’t want to actively trade. Fees are lower than other RBC advisor programs, but investment minimums are $25,000.
RBC Unified Portfolio Program: The advisor has discretion at making investment decisions for the client based on the client’s profile. The wrap fee is inclusive of the services provided across investment management, financial planning, tax management, and more, but can be as high as 3.0% AUM. Minimums starting at $2,500 and ranging up to $200,000, depending on the portfolio selected.
Consulting Solutions Program: Access to third-party managers and advice on top of what RBC can provide. Tailored strategies requiring between $100,000 and $600,000 for equity portfolios, and $100,000 to $300,000 for fixed income, depending on the manager. Fees are higher than RBC Advisor and Portfolio Focus fees, but less than RBC Unified Portfolio Program fees.
Portfolio Focus: Select advisors can offer discretionary investment management through the Portfolio Focus program with a $50,000 minimum investment.
Managed Account Program (MAP): Typically for clients with an existing relationship with RBC who want their investments managed for them by a specific investment manager. Not open to new RBC clients. Has a high minimum investment requirement of $100,000, as well.
Private banking: Typically reserved for high-net-worth individuals with at least $1 million in investable assets or a $3 million net worth.
These services are delivered through dedicated advisors who provide both strategic guidance and day-to-day portfolio oversight.
Pros and cons of RBC Wealth Management
Here are some of the pros and cons of RBC Wealth Management to consider when deciding if it's the firm for you.
Pros of RBC Wealth Management:
Reputable: RBC Wealth Management is backed by one of the most secure banks in the world with a strong reputation for trust and compliance.
Services: RBC offers a wide range of financial services and integrated accounts under one roof.
Dedicated advisor: Personalized service and dedicated advisors create customers who tend to stay loyal to RBC.
Research and insights: Global investment research and insights can help you understand investments and financial planning needs.
Cons of RBC Wealth Management:
Higher than average fees: With the wrap fee as high as 3.0%, you’ll likely be paying significantly more at RBC than you would at another advisory.
Minimum investment requirements: Minimum investment requirements may be high.
Not suitable for DIY or low-touch investors: The wealth planning services are comprehensive
Limited transparency in some advisory fee structures: It’s not clear what your exact program fee will be until you get paperwork when signing up for the service.
Does not act as fiduciary: RBC Wealth Management offers a full spectrum of financial solutions; as a result, they accept commissions and other compensation that create a conflict of interest.
What is the minimum investment for RBC Wealth Management?
RBC Wealth Management offers a variety of investment programs, each with different minimum investment thresholds depending on the level of service and account type:
| Program/Account type | Minimum investment |
|---|---|
| RBC Unified Portfolio (RBC UP) | $2,500 – $200,000 |
| RBC Advisor | $25,000 |
| Consulting Solutions | $100,000 – $600,000 (equity) / $100,000 – $300,000 (fixed income) |
| Portfolio Focus | $25,000 |
| Managed Account Program (MAP) | $100,000 or manager’s minimum |
| Private Banking | $1 million (investable assets) or $3 million (net worth) |
Sources: RBC Wealth Management
Is RBC Wealth Management good for investors?
RBC Wealth Management is a strong choice for serious investors who value a strategic and long-term financial relationship. Advisors are highly trained, often holding designations like CFP®, CFA®, or CIM®, and clients benefit from the institutional-grade insights of a global bank.
RBC Wealth Management has a high client satisfaction rate, frequently scoring in the top five in J.D. Power’s Financial Advisor Satisfaction Study.
The firm is especially effective for:
Retirement income planning
Legacy and estate structuring
Tax efficiency in investment portfolios
Navigating complex family or business wealth issues
RBC is less suitable for investors who prefer self-directed trading platforms or want low-cost investing with minimal advisor interaction.
RBC Wealth Management fees and costs
RBC Wealth Management typically charges advisory fees as a wrap fee, which is all-inclusive of the various fees you’ll encounter in managing your investments. The amount is calculated as a percentage of assets under management up to 3.00% annually, depending on the program and account size.
Current customers in 2025 report fees of 1.15% on assets up to $2 million, then 0.68% on the next $3 million, 0.51% on the next $10 million, and 0.35% on amounts over that.
Fees are generally tiered and billed quarterly, and may vary across programs. These fees are separate from internal fund expenses and any third-party manager costs. Clients should refer to their advisory agreement for exact rates.
Real client reviews of RBC Wealth Management
Client feedback across platforms reveals a mixed but generally balanced perception of RBC Wealth Management:
Positive Feedback: Many clients appreciate the firm’s comprehensive wealth planning services, including retirement, tax, and estate strategies. The professionalism of advisors and access to private banking are frequently noted as strengths.
Common Concerns: Some users feel that advisory fees are on the higher side, particularly when compared to passive investment alternatives. A few clients have expressed concerns about underwhelming performance or feeling sales pressure toward premium services.
Sources:
RBC vs. TD Wealth, Scotia Wealth, and BMO Nesbitt Burns
| Firm | Minimum investment | Best for | Strengths |
|---|---|---|---|
| RBC Wealth | $2,500 to $1M+ | High-net-worth, retirees, families | Deep expertise, estate planning |
| TD Wealth | $100K+ | Mid-to-high-net-worth clients | Broad digital tools and TD ETFs |
| Scotia Wealth | $500K+ | Investors needing bank integration | Strong planning and discretionary options |
| BMO Nesbitt Burns | $100K+ | Multi-generational wealth | Tax planning and trust capabilities |
RBC stands out for its deep advisor bench, strong private banking, and high trust levels, particularly among long-time clients. Some options allow for a much smaller investment to get involved with RBC Wealth Management.
Who should use RBC Wealth Management?
RBC Wealth Management is ideal for:
Individuals with complex financial planning needs
Retirees needing income strategies and risk mitigation
High-income earners preparing for legacy wealth
Business owners looking for succession planning and liquidity solutions
It may not be a fit for:
Investors with fewer investable assets
DIY traders who prefer control over portfolios
Those focused strictly on fee minimization
Technology and online platform
RBC’s MyAdvisor and Wealth Management Online portals provide clients with access to:
Portfolio performance and historical returns
Investment research and market insights
Secure document sharing and messaging
Online financial goal tracking
While the interface is professional and stable, it's not as flashy as modern robo-advisors. However, it's trusted for security and advisor-client collaboration.
RBC compliance, security, and regulation
RBC Wealth Management is:
Regulated by IIROC (Investment Industry Regulatory Organization of Canada)
Covered by CIPF (Canadian Investor Protection Fund) for up to $1 million
Compliant with GDPR and PIPEDA privacy regulations
Known for strong cybersecurity infrastructure, encryption, and fraud monitoring
Your money and personal data are safe and highly protected within RBC’s systems.
Final verdict: Is RBC Wealth Management worth it?
RBC Wealth Management is worth considering if you're a serious investor seeking personalized service, strategic financial planning, and long-term support.
Their reputation for advisor quality, regulatory integrity, and holistic offerings makes them a strong choice for wealthy Canadians and cross-border investors looking for more than just investment returns, but for a true financial partner.
To get your questions about wealth management and advisory services answered, get matched with a fiduciary advisor from Unbiased. By answering a few questions, you can easily be matched with an advisor suited to answer questions about your unique situation.