RBC Dominion Securities Inc. has broken through the $150 billion mark in client assets under administration, a first in the Canadian wealth management industry, it says.

“We’re very proud of this achievement,” said David Agnew, national director, RBC DS. “It’s the result of providing advisors with the best tools — from investment management to estate planning and insurance — to help them meet their clients’ goals. In return, our clients receive a distinctively superior wealth management experience.”

RBC DS leverages the full resources of RBC Financial Group. “Our advisors have the best of both worlds: their own distinctly entrepreneurial focus, plus access to the global capabilities of RBC Capital Markets and RBC Wealth Management and an excellent partnership with professionals within RBC Canadian Banking,” said George Lewis, group head, RBC Wealth Management. “This allows us to create truly customized solutions for each client’s unique investment and broader wealth management needs.”

Another clear advantage for clients is the ability for accredited RBC DS advisors to provide discretionary portfolio management services. Discretionary assets account for 10% of the asset base at RBC DS, making it the leading IDA-regulated wealth management firm to offer discretionary investment management. Combined with the investment management business of RBC Private Counsel, RBC is the No.1 provider of discretionary investment management services to individuals in Canada.

“These advantages are compelling for financial advisors looking to offer the very best to clients,” said Agnew. “Over the past two years, we’ve welcomed 70 seasoned investment advisors and portfolio managers from our competitors, and each of them has told me that RBC has the best wealth management platform in Canada from which to serve clients.”