Private Banks in Canada
Compare leading private banks and their services in Canada
Market Overview
Market Size
CAD 1.8 trillion
Total private banking assets under management
Regulatory Body
OSFI (Office of the Superintendent of Financial Institutions)
Primary financial regulator
Average Management Fee
0.65% - 2.10%
Typical fee range for wealth management
Private Banks in Canada
Bank | Minimum Investment | Management Fee | Key Services | Heritage | |
---|---|---|---|---|---|
CAD $500,000 | 0.65% - 1.75% |
| Since 1855 | Get Matched | |
CAD $1,000,000 | 0.75% - 1.85% |
| Since 1817 | Get Matched | |
CAD $1,000,000 | 0.70% - 1.80% |
| Since 1832 | Get Matched | |
CAD $1,000,000 | 0.75% - 1.85% |
| Since 1859 | Get Matched | |
CAD $2,000,000 | 0.80% - 1.90% |
| Since 1869 | Get Matched | |
CAD $3,000,000 | 0.85% - 1.95% |
| Since 1862 | Get Matched | |
CAD $5,000,000 | 0.80% - 1.90% |
| Since 1856 | Get Matched | |
$5,000,000 | 0.65% - 1.85% |
| Since 1935 | Get Matched | |
$5,000,000 | 0.60% - 1.75% |
| Since 1865 | Get Matched | |
CAD $15,000,000 | 0.90% - 2.10% |
| Since 1799 | Get Matched |
Requirements and Documentation
Minimum Investment
CAD 500,000
Typical minimum investment requirement
Required Documentation
- Valid ID
- Proof of residence
- Source of wealth documentation
- Tax compliance
Key Regulations
Bank Act
Investment Dealer and Trust Services Act
Know Your Client rules
Anti-Money Laundering requirements
Frequently Asked Questions
What is the minimum investment for private banking in Canada?
Minimum investments for private banking in Canada typically start from CAD 500,000, varying by bank and services required.
How are private banks regulated in Canada?
Private banks in Canada are regulated by OSFI (Office of the Superintendent of Financial Institutions) under strict regulatory frameworks ensuring client protection and financial stability.
What are the typical management fees in Canada?
Management fees for private banking in Canada typically range from 0.65% - 2.10%, depending on the bank and portfolio size.
What services do private banks in Canada offer?
Private banks in Canada offer comprehensive wealth management services including investment advisory, estate planning, tax optimization, and family office services.
How do I open a private bank account in Canada?
Opening a private bank account in Canada requires meeting minimum investment thresholds, providing extensive documentation, and undergoing comprehensive due diligence processes.
What are the tax implications of private banking in Canada?
Private banking in Canada involves complex tax considerations including reporting requirements, tax optimization strategies, and compliance with international regulations like CRS and FATCA.
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