Rizal Commercial Banking Corporation (RCBC) has been named the Best Bank for next-gen and millennials in 2023 by Asiamoney in the recent Asia Private Banking Awards ceremony.
Asiamoney is one of Europe’s largest financial media companies. The Asiamoney Private Banking Awards recognize institutions that are critical to the region’s wealthy individuals and families, helping them navigate the worst of the volatility of the past year.
“This award is a testament to our commitment to delivering innovative and customized financial solutions that cater to the unique needs and preferences of our clients, especially the next-gen and the millennials. We will continue to enhance our capabilities and expand our services to help our clients achieve their financial goals and secure their future,” RCBC Wealth Management Group Head, Jane Manago said.
RCBC Wealth partners with its clients on services ranging from investment and financial planning to retirement and estate planning, as well as other services relevant to their financial requirements. It has office locations in Makati, Binondo, Greenhills, Cebu, and Davao.
“Our focus on the next generation and the millennials stemmed from conversations we had with RCBC Wealth’s older clients. Their common concern is how to ensure that the next generation can take over and carry on their legacies,” Manago added.
To address this concern, RCBC Wealth Group conducted a series of sessions to introduce the next generation to the world of investing aimed at arming the next-gen with the knowledge, skills and investment capabilities that enable them to carry on when the time comes. This also included discussions on succession planning tools such as trust products and services, insurances, family holding companies and the like. Conversations among parents and the younger generation about goals, inspirations as well as risk tolerance were prompted through one-on-one sessions with the families.
In 2022, RCBC Wealth grew its assets under management (AUM) by 20 percent, and more than doubled the number of families it onboarded the previous year.