The survey has revealed that apart from business successions, other concerns include retirement planning and tax minimization.
Commenting on the survey findings, Howard Kabot, vice-president, Financial Planning, RBC Wealth Management Services said: "We are seeing a recent shift in the concerns of our high net worth clients. While they continue to seek out advice on retirement planning, and as part of that, tax minimization to ensure a successful retirement, they are also now increasingly putting on their business-owner hat and seeking out advice around the succession of their business."
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"Business owners, because of demographics and because of our offerings and expertise in this field, are realizing issues around the successful transition of their business are not only crucial to the future of their businesses but also to the well-being of their own personal and family’s financial future," Kabot added.
RBC Wealth Management is a provider of banking, investment, trust and other wealth management solutions to the affluent, HNW and UHNW clients in Canada, the US, Latin America, Europe, the Middle East, Africa and Asia.
Currently, RBC Wealth Management has more than C562 billion of assets under administration, more than C324 billion of assets under management and approximately 4,300 financial consultants, advisors, private bankers and trust officers.
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