Guide to Doing Business with RBC Trust - Your Senior Relationship Manager
Your most important contact at RBC Trust is your Senior Relationship Manager. Each Senior Relationship Manager (SRM) is assigned a specific territory or group of companies to work with and he or she will be the person to guide your case through the steps from initial planning to implementation and operation.
Step One
Call your Senior Relationship Manager. If you do not know who your SRM is, call our Marketing Department and you will be directed to the appropriate person.
Step Two
Discuss your case with your SRM. You will be told whether and/or how RBC Trust can be of service to you in a particular situation. The specific questions you will be asked will depend on the situation you present but will always focus on what the client is trying to accomplish and the amount and type of assets involved. Your Senior Relationship Manager has the training and experience to answer most of the questions that you will have. In addition, RBC Trust has highly-trained and experienced legal, accounting and other professional staff that the SRM can access if needed.
Step Three
Once it has been determined what type of trust or investment service is most appropriate for your client, the next step will involve getting the appropriate information to your client and/or his attorney to enable them to make a decision on your recommendation. RBC Trust has brochures available to explain the various types of trusts as well as the professional money management services we offer. In addition, we are able to provide complete customized charitable trust illustrations for you to use with your client.
Step Four
After the client has given the go-ahead, the next step is to get the appropriate paperwork completed. If we are dealing with a Capital Management Account or Custody Account not involving a trust, then the application forms must be completed by the client and returned to us. The account will then be set up, funded and invested under the supervision of the SRM.
If a trust is needed, then the trust document must be drafted. The trust document can either be drafted by your client’s attorney or by our Legal Department for approval by your client’s attorney. If the attorney drafts his own document, then we will need to review the initial draft and more than likely supply some administrative language for him to include in the final document. This is necessary to enable us to administer the trust in the most efficient manner possible and thus qualify for our preferred rates. It is also necessary in many cases for us to include specific language to keep you involved with the trust’s investments and paid for the services you provide in connection with the trust.
If your client chooses to have RBC Trust draft the trust document you will need to follow these steps:
1. Complete the appropriate sections of and have your client sign the Trust Request Form and return this to your SRM.
2. RBC Trust’s Legal Department will prepare a draft trust document and return it to you in about three weeks. The document must be reviewed by your client and his attorney and any changes communicated to RBC Trust who will then prepare a revised draft. Once the draft trust is reviewed and deemed acceptable by the client and his attorney, the trust should be signed by the client and the attorney before being returned to your SRM at RBC Trust. WE WILL NOT ACCEPT A TRUST DRAFTED BY OUR LEGAL DEPARTMENT UNLESS IT HAS BEEN REVIEWED, APPROVED OF AND SIGNED-OFF BY THE ATTORNEY OF THE CLIENT’S CHOICE.
Step Five
When the properly executed trust is received by your SRM, he or she will set up the account and make arrangements regarding any asset transfers and /or investments required for funding the trust. Once this is accomplished, the trust is in operation and will be administered by RBC Trust’s Trust Services Department.