A message from the President of RBC PH&N Investment Counsel

Our valued clients,

Green shoots begin to sprout

Like so many of you, I am looking forward to a return to some form of normal after what seems like much longer than the 100 or so days of the COVID-19 pandemic lockdown. The arrival of spring’s stunning and awe-inspiring days seem to have brought with them the first signs of renewal, with the late season’s warmth and verdant greenery bringing a new sense of optimism; and with it, the hint of a possible social and economic re-awakening.

Three-and-a-half months into the lockdown, we have had encouraging updates that the pandemic is showing signs of subsiding – or at least firmly plateauing – here in Canada. While some activities are still unavailable depending upon where you live, others are slowly opening up, allowing us to once again stretch ourselves literally and figuratively.

The Great Re-Opening

The wheels of social and economic life are beginning to turn, allowing companies and their employees to start to rebuild. Global stock markets have responded, with some markets, including the S&P 500 and S&P/TSX Composite, making steady progress back to their 2020 highs. As social distancing restrictions begin to ease, most of us are starting to enjoy the first in-person sight of a newborn grandchild, the still-six-feet-apart company of family and friends, and the fulfillment of re-opening businesses or returning to the workplace. After the challenges of the last several months, these small steps are greatly welcomed.

A vigilant approach to the future

“Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” ~ Winston Churchill

As we go through the next few months, we will of course, remain ready to reassume a more protective posture if we see a resurgence in COVID-19 cases. As we hear frequently from experts, we will likely have to live with the possibility of another wave for many months to come.

As governments ease restrictions and we develop plans for RBC employees to return to the workplace, we are taking a cautious and gradual approach to ensure we proceed at the right pace, with the health and well-being of our employees, and our clients, as our number one priority and the starting point for any decisions.

Fortunately, the feedback from clients regarding our ability to continue to seamlessly serve you has been nothing short of outstanding – thank you, as that feedback and support is invaluable and deeply appreciated by us. And, my management team and I are thrilled that our teams have adapted so quickly to the circumstances. We will certainly continue to keep you up-to-date and informed regarding any developments on this front, and we thank you for your ongoing patience, flexibility and support as we work through this unprecedented time.

Investing to meet the needs of a changing world

We are always grateful and proud of the honour you bestow upon us by choosing RBC PH&N Investment Counsel to manage and grow your wealth, and to advise you on how best to achieve your goals and legacy. Given the new normal we are living with today, we continue to move quickly and thoughtfully to provide you with smart, safe and efficient ways to access your accounts, transfer funds, receive important and timely updates, and to engage with your Investment Counsellor.

As such, I am delighted to advise that over the last few weeks we launched two important technologies: our new RBC Wealth Management (WM) Online website, and RBC Secure Email.

As we continue to improve functionality, WM Online will enhance your online experience, while broadening your choices as to how you choose to do so: PC, laptop, and soon any mobile device. Please speak with your Investment Counsellor to get set up and underway today.

As we conduct more business online, we want to assure you that we are providing the most secure means to engage with us. WM Online’s Secure Two-Way Messaging functionality is one way to safely send and receive messages containing confidential information and documents such as account statements and tax slips; the other is the newly launched RBC Secure Email, underpinned by an advanced security system that protects your sensitive correspondence and related documents while in transit online to you or any of your trusted external advisors whom you have authorized us to communicate with, such as your lawyer and/or accountant. And many of the major internet service providers no longer require password upon reaching the destination email. Again, please contact your Investment Counsellor to learn more or discuss getting set up for RBC Secure Email.

Our common wealth

The pandemic has reinforced the importance of our physical health and mental well-being and so many of you have told me that the most important thing in life is health, rather than wealth alone – and that without the former, you can’t possibly enjoy the latter. I mentioned previously that I hope the outcome of the pandemic is indeed a healthier world that prioritizes the well-being of all of its citizens and inhabitants.

This sentiment is also reflected in the recent protests against racism, injustice, violence and bigotry around the world. Racism and violence against the Black community are clearly symptomatic of ongoing racial discrimination and injustice. It’s time to address these challenges and take action. For many, this requires us to change how we see, hear, learn and understand each other’s experiences.

Let’s re-connect

Times such as this often focus our minds on what really matters to us, so I strongly encourage you to engage your Investment Counsellor at your earliest convenience, even via a virtual chat, to ensure that your goals are properly reflected in the wealth plans that you have set out with them. The world has been disrupted for many of us, so we want to ensure that you get back on track, or simply confirm that you remain on track. Even if things have not changed dramatically for you, reconnecting with your Investment Counsellor can put your mind at ease. Our ongoing purpose is to ensure we build and preserve your wealth to help you achieve what matters most to you, while also providing you the expertise that will help get there in the best, most efficient way. Together, we hope to partner with you to do just that.

Lastly, and on behalf of the entire team at RBC PH&N Investment Counsel, I would like to thank you for your continued trust in allowing us to manage your wealth and to help you reach your goals. No matter what happens next in these challenging times – may it be good, bad or somewhere in between – we will remain dedicated to you and your well-being.

As always, please remain safe and sound, and I wish you and your family a very happy Canada Day.


signature of Vijay Parmar

Vijay Parmar, CPA, CA
RBC PH&N Investment Counsel