No commissions, no ads, no advice. This RBC Wealth Management profile draws only on public records, each linked so you can confirm it yourself.

---

The short answer: is RBC Wealth Management a fiduciary?

It depends on your account: RBC Wealth Management is a fiduciary in its advisory programs, and follows the Regulation Best Interest standard as a broker. Publicly, it files with the SEC as RBC Capital Markets (CRD #31194). As of its latest Form ADV (filed September 30, 2026), the firm reported $310.4 billion in regulatory assets under management, across approximately 280,000 clients (Item 5.D). Per Item 5.E of its Form ADV, the firm is compensated two ways: a percentage of assets under management and fixed fees. None of this is hidden. The records are public, and confirming them takes only a few minutes.

That split exists because RBC Wealth Management is a dual registrant, so the standard of care changes with the type of account you hold. In its advisory programs it acts as an investment adviser with a fiduciary duty. In brokerage accounts it acts as a broker-dealer under Regulation Best Interest (a best-interest obligation at the time of a recommendation, not a continuous fiduciary relationship). Before relying on either standard, confirm which type of account you actually hold. Get started with Truthifi

What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)

RBC Wealth Management at a glance

✅ Verified from public filings, last checked October 5, 2026. RBC Wealth Management (SEC CRD #31194) is a fiduciary in its advisory programs, on a fee-based basis, with $310.4 billion in regulatory assets under management. Every figure below links to its primary source.

What	RBC Wealth Management	Source
SEC CRD	#31194	IAPD
Registration	Investment adviser and broker-dealer (dual registrant)	IAPD
Registered since	June 2, 1977 (SEC)	IAPD
Fiduciary?	Yes in advisory programs, Reg BI in brokerage	SEC Reg BI
Fee model	Fee-based (commissions + advisory)	Form ADV Item 5.E
How it's paid	A percentage of assets under management and fixed fees	Form ADV Item 5.E
Regulatory Assets Under Management	$310.4 billion (Form ADV filed September 30, 2026)	IAPD
Client accounts	511,871 (417,652 discretionary)	IAPD
Employees	8,781 (5,908 in advisory roles)	IAPD
Ownership	Parent-owned	Form ADV Schedule A
Disclosures	Records carry disclosure items (common at this size). Review them directly	IAPD
HQ	New York, NY	IAPD

---

RBC Wealth Management fees: what you'll pay

Because the standard of care depends on which side of the firm holds your account, RBC Wealth Management fees do too. In a brokerage account, costs generally come from commissions and product costs such as mutual fund sales loads, markups and annuity commissions. An advisory program works differently: instead of per-trade commissions, you pay an asset-based advisory fee on top of the underlying fund expenses. According to its Form ADV (Item 5.E), the advisory side is paid through a percentage of assets and through fixed fees, so a flat arrangement may exist alongside the percentage model. The dollar detail sits in its Form CRS and Part 2A brochure.

That's what "fee-based" means here: cost can come from both an advisory fee and commissions, depending on the account. A fee-only financial advisor, by contrast, takes no commissions.

Our take: if you hold both account types at RBC, ask your advisor to name, in writing, which standard covers each account and what each one costs per year in dollars, not just as a rate. Whether that number is fair is a separate question, covered in Are you paying too much? Why that might be the wrong question.

Who owns RBC Wealth Management, and what conflicts does it disclose?

RBC Wealth Management is owned by RBC USA Holdco Corporation, as listed in Schedule A of its Form ADV. (Form ADV Schedule A) Because the firm sits under a parent holding company, its conflicts disclosures may cover affiliated businesses as well as the firm itself.

Its Form ADV Part 2A describes the firm's conflicts of interest, including how it and its advisers are paid.

RBC Wealth Management SEC record: disclosures

Like most large firms, RBC Wealth Management's records may carry disclosure items, and at that scale the number of disclosures is not by itself a measure of wrongdoing or of the firm's quality. Disclosure counts tend to scale with headcount, so a raw tally says little about misconduct on its own. A firm with thousands of registered people will likely show more total items than a small adviser. If any look relevant to you, go read them directly at the source. Any RBC Wealth Management disclosures sit on the public record, not on anyone's characterization of them.

On the record, the firm has been registered with the SEC since June 2, 1977, makes notice filings in 52 jurisdictions, and reports 8,781 employees, 5,908 of them (67.3%) in investment advisory roles. Some people search "is RBC Wealth Management legit?" Registration is easy to confirm: it has a public CRD and public filings anyone can pull. Registration shows it's a real, regulated adviser, not that it's the right fit for you.

Reading RBC Wealth Management reviews against the public record

Star ratings and client comments describe what it felt like to work with a firm. They don't typically reveal what the firm reports to regulators, though. Before you weigh RBC Wealth Management reviews, check three things this profile takes from the public record. First, how the firm is paid: advisory and brokerage accounts are compensated differently, so the standard that applies depends on which one you hold. Second is ownership, along with the conflicts of interest it discloses. Third, whether its Form ADV reports any disciplinary history. A reviewer in a brokerage account and one in an advisory program were dealing with different standards at the same firm. Read reviews alongside the record, not instead of it.

How to verify RBC Wealth Management yourself

Here's how to confirm all of it in three steps:

1. Check the SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/31194.
2. Read the filings (Form ADV / Form CRS): linked from the IAPD page.
3. Confirm the entity: match RBC Wealth Management (CRD #31194, legal name RBC CAPITAL MARKETS, LLC) so you're reading the right firm.

To compare it with other firms checked the same way, see the Truthifi /advisors hub.

What RBC Wealth Management does and who it serves

On its Form ADV, RBC Wealth Management reports providing financial planning, portfolio management for individuals and small businesses, portfolio management (pooled vehicles), portfolio management for businesses and institutions, pension consulting, selection of other advisers, and educational seminars.

It reports providing financial planning to 51 to 100 clients in its last fiscal year (Form ADV Item 5.H), a count the form keeps separate from the client totals below. Set against approximately 280,000 clients, that is a small group, so if a written financial plan matters to you, ask whether it comes with your account or is a separate engagement.

Its Form ADV (Item 5.D) breaks its clients down by type, approximately 280,000 in all:

Client type	Clients	Assets managed
Individuals	263,588	$182.25 billion
High-net-worth individuals	12,350	$98.50 billion
Banking or thrift institutions	7	$55.6 million
Pooled investment vehicles	17	$651.5 million
Pension and profit-sharing plans	2,335	$2.67 billion
Charities	2,222	$10.80 billion
State or municipal government entities	215	$1.24 billion
Insurance companies	105	$445.3 million
Corporations or other businesses	3,071	$13.82 billion

What the client mix shows. By our arithmetic from Item 5.D of its Form ADV [→https://adviserinfo.sec.gov/firm/summary/31194], individuals make up 92.8% of clients and 58.7% of the $310.4 billion. High-net-worth individuals are about 4.3% of clients yet hold 31.7% of assets, roughly $8 million each on average against about $690,000 for other individuals. Most RBC advisory clients, in other words, sit in the firm's largest bucket by count, not its largest by assets.

It reports 511,871 client accounts, about 1.8 per client by our math (many clients hold more than one account): 417,652 discretionary (81.6%, meaning the firm can trade without seeking your approval first) and 94,219 non-discretionary (Item 5.F). Its main office is in New York, NY.

It reports that it or a related person has custody of certain client assets, which brings extra safeguards such as surprise examinations. The specifics are in its Form ADV.

One thing these counts don't capture: Form ADV's client and account figures describe the advisory business only. Brokerage-only relationships generally aren't tallied there. If your RBC account is a brokerage account, its real cost record lives in your statements and trade confirmations, not in the filing.

---

Great advice runs on the truth. Here's how to bring yours to the table.

The filings above describe the firm; they say nothing about your own accounts. Even a great advisor can only act on what reaches them. The held-away 401(k), a spouse's accounts and fund costs that never reach a statement usually arrive in pieces, none of it reconciled. This is where Truthifi comes in.

How Truthifi can help

Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at RBC Wealth Management. See how Truthifi keeps your accounts secure

Prefer your own AI? A paid Truthifi plan lets you connect an AI assistant that supports MCP sign-in, such as Claude. Truthifi Connect is the lighter membership for people who only want to use their own assistant. Questions about your fees need Monitoring or Monitoring Plus+. More on that in How to ask AI about your real investment accounts.

Ask AI about your RBC Wealth Management accounts

Once your accounts are connected read-only, you can ask in plain English:

• "What do I own across my RBC Wealth Management accounts and everything else, and how is it allocated?"
• "What am I paying in fees on each of these accounts?"

Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply).

No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts is read-only. Start free (limits apply). Monitoring Checkup is free. Link up to 10 connections, per Truthifi's published plan limits. Plans and limits are on the pricing page → truthifi.com.

---

FAQ

Is RBC Wealth Management a fiduciary? It depends on your account. In its advisory programs it acts as a fiduciary. In brokerage accounts it follows the SEC's Regulation Best Interest standard. Ask which type of account you have.

What are RBC Wealth Management's fees? They depend on the account. Brokerage accounts generally pay commissions and product charges. Advisory programs charge an asset-based fee instead of per-trade commissions, plus underlying fund costs. See the Form CRS.

Who owns RBC Wealth Management? RBC Wealth Management is owned by RBC USA Holdco Corporation, as listed in Schedule A of its Form ADV.

Does RBC Wealth Management have complaints or disclosures? Its regulatory records may carry disclosure items, as is common at its size. A disclosure is not proof of wrongdoing. Read any directly on BrokerCheck and the firm's Form ADV.

Is RBC Wealth Management legit? RBC Wealth Management is registered with the SEC (CRD #31194) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV.

Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. You can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.

---

About this profile

Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time.

Read next from the Truthifi blog

• What is a fiduciary?
• Fee-only financial advisor: costs and how to find one
• Are you paying too much? Why that might be the wrong question
• How to ask AI about your real investment accounts
• Robo-advisor vs. human financial advisor: which is better?
• All advisor fact packs on Truthifi

---

A note on sources. The facts on this page come from publicly available documents, RBC Wealth Management's SEC and FINRA filings, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with RBC Wealth Management. Regulatory records change, so always confirm against the official sources linked above. Spot something that should be corrected? Email us at support@truthifi.com.