{ "crd_number": 109648, "slug": "rbc-private-counsel-usa-inc-toronto-on-109648", "primary_business_name": "RBC PRIVATE COUNSEL (USA) INC.", "legal_name": "RBC PRIVATE COUNSEL (USA) INC.", "dbas": [ "RBC WEALTH MANAGEMENT" ], "city": "Toronto, On", "state": null, "country": "Canada", "cbsa_code": null, "metro": null, "registration_type": "sec", "registration_status": "Approved", "registration_date": "1998-05-11", "years_registered": 28, "period": "2026-10-01", "filing_date": "2026-06-30", "carried_forward": false, "raum_total": 7887634770.0, "raum_discretionary": 7670366932.0, "raum_non_discretionary": 217267838.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 1455, "advisory_employees": 1455, "client_count_bucket": null, "clients_by_type": { "individuals": { "raum": 1626314753.0, "count": 4529 }, "high_net_worth_individuals": { "raum": 4991028273.0, "count": 1244 }, "corporations_other_businesses": { "raum": 1270291744.0, "count": 194 } }, "compensation_types": [ "percentage_of_aum" ], "advisory_activities": [ "portfolio_management_individuals", "selection_of_other_advisers" ], "wrap_fee_participant": true, "disclosure_yes_count": 3, "states_registered": [ "AK", "AL", "AR", "AZ", "CA", "CO", "CT", "DC", "DE", "FL", "GA", "HI", "IA", "ID", "IL", "IN", "KS", "KY", "LA", "MA", "MD", "ME", "MI", "MN", "MO", "MS", "MT", "NC", "ND", "NE", "NH", "NJ", "NM", "NV", "NY", "OH", "OK", "OR", "PA", "PR", "RI", "SC", "SD", "TN", "TX", "UT", "VA", "VI", "VT", "WA", "WI", "WV", "WY" ], "websites": [], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/109648", "disclosure_items": [ { "item": "11.C(2)", "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?" }, { "item": "11.C(5)", "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?" }, { "item": "11.D(2)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?" } ], "city_as_filed": "TORONTO, ON", "url": "https://advisorcensus.com/firm/rbc-private-counsel-usa-inc-toronto-on-109648", "display_name": "RBC Private Counsel (USA) Inc.", "summary": "RBC Private Counsel (USA) Inc. is an SEC-registered investment advisory firm in Toronto, On, Canada, registered since 1998, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated June 30, 2026.", "citation": "AdvisorCensus. RBC Private Counsel (USA) Inc. (CRD 109648): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management" ], "advisory_activity_labels": [ "Portfolio management for individuals and/or small businesses", "Selection of other advisers (including private fund managers)" ], "quick_answers": [ { "q": "How is RBC Private Counsel (USA) Inc. compensated?", "a": "On its Form ADV (Item 5.E, October 2026), RBC Private Counsel (USA) Inc. reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is RBC Private Counsel (USA) Inc. located?", "a": "RBC Private Counsel (USA) Inc.'s principal office is in Toronto, On, Canada, according to its Form ADV; the July 2026 filing also lists 18 other offices (Schedule D, Section 1.F)." }, { "q": "Is RBC Private Counsel (USA) Inc. registered with the SEC or a state?", "a": "RBC Private Counsel (USA) Inc. is an SEC-registered investment advisory firm, registered since 1998. Status as filed: Approved. CRD 109648." }, { "q": "How much does RBC Private Counsel (USA) Inc. manage?", "a": "RBC Private Counsel (USA) Inc. reports $7,887,634,770 in regulatory assets under management in its Form ADV filing dated June 30, 2026 (97% discretionary)." }, { "q": "How have RBC Private Counsel (USA) Inc.'s assets and staff changed since 2021?", "a": "In the Form ADV data for RBC Private Counsel (USA) Inc.: Regulatory assets under management: $3,628,356,741 in the October 2021 data and $7,887,634,770 in the October 2026 data, up 117%. Total employees: 1,063 in October 2021 and 1,455 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does RBC Private Counsel (USA) Inc. serve?", "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (4,529); high net worth individuals (1,244); corporations or other businesses not listed above (194)." }, { "q": "Which custodians does RBC Private Counsel (USA) Inc. use?", "a": "RBC Private Counsel (USA) Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists RBC Dominion Securities Inc. (affiliated with the firm) and Royal Trust (affiliated with the firm) as custodians holding 10% or more of its separately managed account assets." }, { "q": "Does RBC Private Counsel (USA) Inc. report any disciplinary disclosures?", "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order), and 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/109648" }, { "q": "What changed in RBC Private Counsel (USA) Inc.'s recent Form ADV filings?", "a": "In the June 2026 filing data: Item 11 disclosure answers changed: 3 yes answers, previously 7 (now no: 11.D(4), 11.D(5), 11.H(1)(a), 11.H(1)(b))." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 3628356741.0, "total_employees": 1063, "filing_date": "2021-01-27" }, { "period": "2022-10-01", "regulatory_assets_under_management": 4831550943.0, "total_employees": 1167, "filing_date": "2022-01-28" }, { "period": "2023-10-01", "regulatory_assets_under_management": 4527177875.0, "total_employees": 1250, "filing_date": "2023-01-26" }, { "period": "2024-10-01", "regulatory_assets_under_management": 4996644964.0, "total_employees": 1326, "filing_date": "2024-09-03" }, { "period": "2025-10-01", "regulatory_assets_under_management": 6827149933.0, "total_employees": 1379, "filing_date": "2025-01-24" }, { "period": "2026-10-01", "regulatory_assets_under_management": 7887634770.0, "total_employees": 1455, "filing_date": "2026-06-30" } ], "recent_changes": [ { "period": "2026-06-01", "period_label": "June 2026", "notes": [ "Item 11 disclosure answers changed: 3 yes answers, previously 7 (now no: 11.D(4), 11.D(5), 11.H(1)(a), 11.H(1)(b))." ] }, { "period": "2026-02-01", "period_label": "February 2026", "notes": [ "Employees performing advisory functions went from 1379 to 1455.", "Regulatory assets under management went from $6,827,149,933 to $7,887,634,770 (+16%).", "Changed its office addresses in Point-Claire, Quebec.", "Changed its office addresses in Toronto, On.", "Changed its office addresses in Toronto, Ontario.", "Changed its office addresses in Vancouver, British Columbia." ] }, { "period": "2025-11-01", "period_label": "November 2025", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [ { "name": "RBC Dominion Securities Inc.", "name_as_filed": "RBC DOMINION SECURITIES INC.", "affiliated": true }, { "name": "Royal Trust", "name_as_filed": "ROYAL TRUST", "affiliated": true } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/rbc-private-counsel-usa-inc-toronto-on-109648.md", "clients": [ { "type": "individuals", "label": "Individuals (other than high net worth individuals)", "count": 4529, "fewer_than_5": false, "raum": 1626314753.0 }, { "type": "high_net_worth_individuals", "label": "High net worth individuals", "count": 1244, "fewer_than_5": false, "raum": 4991028273.0 }, { "type": "corporations_other_businesses", "label": "Corporations or other businesses not listed above", "count": 194, "fewer_than_5": false, "raum": 1270291744.0 } ], "disclosure_line": "Reports 3 disclosure items on Form ADV Item 11.", "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/109648", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }