Gauthier Wealth Management
Our Custodian
RBC Clearing & Custody
Who Is RBC Clearing & Custody? RBC Clearing & Custody is a division of RBC Capital Markets, LLC, a wholly owned subsidiary of Royal Bank of Canada (RBC) (NYSE and TSX: RY). RBC employs more than 88,000 full-and part-time employees who serve more than 17 million personal, business, public sector and institutional clients through offices worldwide — making it a respected global leader in diversified financial services.
RBC Clearing & Custody
Its financial strength, sound risk management policies, strong balance sheet, diversified business mix, and performance relative to its peers has been, and should be a source of confidence for you. We are part of RBC’s U.S. Wealth Management business, which has a rich hundred-year history of serving the sophisticated wealth management needs of the world’s leading families. Delivering our world-class wealth management solutions and custodial services to clients of Registered Investment Advisors is an important strategic priority to RBC.
What are RBC’s Credit Ratings?
RBC’s senior long-term debt credit ratings are strong, including the Aa2 rating from Moody’s Investors Services, the AA- rating from Standard and Poor’s and AA (stable) ratings from Fitch and DBRS.
What is RBC’s standing amongst its peers in Global Financial Services?
RBC is one of the largest banks in North America and one of the 10 largest banks in the world, as measured by market capitalization. RBC ranks highest among its peers in overall investor satisfaction according to the J.D. Power 2020 Full-Service Investor Satisfaction Study℠, now in its 18th year. RBC is the market leading retail bank in Canada and the ‘North American Retail Bank of the year for the 3rd consecutive year. (Celent Model Bank, 2021)
How will RBC Clearing & Custody protect my assets as a custodian?
In addition to RBC Clearing & Custody’s proven commitment to responsible stewardship, we comply with Securities and Exchange commission requirements to maintain certain capital requirements, as well as to keep client assets separated from our assets and the assets of others (unless you have signed a margin agreement). Since RBC Capital Markets, LLC, is a member of Securities Investor Protection Corporation — a nonprofit corporation funded by member securities brokerdealers — you are eligible for SIPC insurance protection. In the event of a catastrophic loss of RBC CM’s firm capital, SIPC reserve funds would be available to satisfy claims against the firm, up to $500,000 per client, including up to $250,000 in cash. Beyond SIPC insurance, RBC carries additional insurance through Lloyd’s of London. The policy provides additional securities and cash protection up to $99.5 million per SIPC qualified account (of which $900,000 may be cash). The firm’s excess SIPC policy is subject to a maximum aggregate amount payable of $400 million, which would be distributed on a pro-rata basis across all losses by clients of RBC. *Subject to a $400,000,000 cap, which would be distributed on a pro-rated basis across all losses by clients of RBC.
“These materials have been independently produced by Gauthier Wealth Management LLC. Gauthier Wealth Management LLC is independent of, and has no affiliation with, RBC Clearing & Custody or any of its affiliates. RBC Capital Markets is a registered broker-dealer and member SIPC. RBC Clearing & Custody has not created, supplied, licensed, endorsed, or otherwise sanctioned these materials nor has RBC Clearing & Custody independently verified any of the information in them. Gauthier Wealth Management LLC provides you with investment advice, while RBC Clearing and Custody maintains custody of your assets in a brokerage account and will effect transactions for your account on our instruction.”
