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The role of cash in your financial picture

Integrated solutions available

Consider the importance cash plays in your current and long-term financial life. Cash covers current expenses and future expenses too.

You may be saving for a large purchase. You may have cash on hand to protect against unforeseen events, such as an unexpected home repair or a job loss. Cash also plays a role in your investment portfolio. Your portfolio allocation to cash and cash-like products typically changes over time - depending on your risk tolerance, investment time horizon and whether you are near retirement or already retired.

Effectively managing cash is vital to meeting your financial goals. Here are three key reasons to discuss your current and future cash needs with me as your financial advisor:

1. Cash management

What are your current household expenses? If you’re retired or depend on your portfolio for a portion of your income, using cash management solutions can offer efficient access to your cash and help smooth out your income stream.

2. Liquidity

Expenses you do not anticipate may occur in life, such as a major repair, a medical emergency or perhaps a job or business loss. Holding sufficient cash may help you prepare for the unexpected. In addition, if you’re retired or depend on portfolio income, many financial professionals recommend having six months to two years of spending needs allocated to cash, which may help protect against market volatility or being forced to sell investments at an inopportune time.

3. Flexibility

Allocating a portion of your portfolio to cash gives you the liquidity necessary to move quickly when an investment or business opportunity presents itself. RBC Wealth Management offers several cash management services to help you enjoy the benefits of your wealth when and how you need it.

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Managing your cash is an important element in reaching your financial goals. With RBC Wealth Management you can choose from a broad range of financial services. Contact us today to learn more.

RBC Cash Services

Digital. Secure. Convenient.

Choose how your money is protected or grows

Through deposits at Program Banks, RBC Insured Deposit offers an industry leading amount of FDIC coverage with up to $5 million insurable ownership capacity, up to applicable limits and subject to certain requirements. Each deposit is a direct obligation of the Program Bank and is not an obligation of RBC Wealth Management, which is not an FDIC-insured depository institution.

For a list of program banks, please see our public website at www.rbcwm.com/rbc-insured-deposits-program-banks.

 

Easily access your cash from anywhere

  • Visa Platinum Debit Card
  • Unlimited check writing
  • Monthly and annual account statements
  • RBC Bill Pay
  • Mobile Wallets
    • Apple Pay
    • Google Pay

 

Save money with our reduced costs for transactions

  • ATM fee waivers
  • No foreign transaction fees
  • Expanded ATM network offering clients surcharge 
  • Free access to the following ATM networks:
    • MoneyPass
    • AllPoint
    • PNC Bank

 

Save time and effort with our digital self-service tools

  • Mobile check deposit
    • Premier members; daily mobile deposit limit $200,000 and monthly mobile deposit limit $500,000
    • Non-premier members: daily mobile deposit limit $100,000 and monthly mobile deposit limit $250,000
  • Debit card management
    • Real-time two-way fraud text alerts; clients will receive a free SMS text message to verify debit card transactions
    • Reset PIN online
    • Turn card on/off
    • Report a card lost/stolen
  • Online transfers
  • Real-time ACH

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Disclosures

1. RBC Insured Deposits (“the Program”) is an automated cash sweep option that sweeps un-invested cash balances in clients’ accounts into interest-bearing deposit accounts (“Deposit Accounts”) with RBC affiliate banks and additional unaffiliated banks (“Program Banks”) up to applicable limits, and subject to certain requirements. Availability is subject to certain restrictions. The Program provides up to $5 million in Federal Deposit Insurance Corporation (“FDIC”) insurance coverage per depositor in each insurable ownership capacity (“Deposit Limit”). Each Deposit Account constitutes a direct obligation of the Program Bank and is not directly or indirectly an obligation of RBC Wealth Management, which is not an FDIC-insured depository institution. For a list of program banks, please see our public website at www.rbcwm.com/rbc-insured-deposits-program-banks. More information regarding FDIC insurance is available at https://www.fdic.gov. RBC Insured Deposits are not subject to market risk and potential value loss, but are subject to the risk of a Program Bank’s failure. In the event a Program Bank fails, deposits at each Program Bank are eligible for FDIC coverage up to applicable limits. Deposit balances in excess of the Deposit Limit will be invested with Excess Banks and are not covered by FDIC insurance. Currently, the Primary Excess Bank is City National Bank (“CNB”), an RBC Affiliate Bank. Monies held in RBC Insured Deposits are not covered by Securities Investor Protection Corporation (“SIPC”). For retirement accounts, balances in excess of the Deposit Limit are invested in an unaffiliated money market fund. Money market mutual fund investments are not insured by the FDIC or any government agency; they are instead covered by SIPC. 

Deposit Accounts will earn the interest rate based on the total assets across all accounts within your household, as well as total balances of all Deposit Accounts within your household held in the RBC Insured Deposits cash sweep program.

Please see the “Cash Management” section on our public website at rbcwm.com/disclosures. There you will find the RBC Insured Deposits Program Banks as well as Terms and Conditions and Program Interest Rates. For more information see our “Cash Sweep Program Overview” which is also available on our public website.

Kalley Sikich Leer, NMLS # 2497680, and Robert Sikich, NMLS # 2492634 through City National Bank, may receive compensation from RBC Wealth Management for referring customers to City National Bank. Banking products and services are offered or issued by City National Bank, an affiliate of RBC Wealth Management, a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC and are subject to City National Banks terms and conditions. Products and services offered through City National Bank are not insured by SIPC. City National Bank Member FDIC.

Investment products offered through RBC Wealth Management are not FDIC insured, are not guaranteed by City National Bank and may lose value.