This news service talked to the "Echelon" service of RBC, which the banking group expanded earlier this year. We talk to the man leading this business.

Earlier this week, Family Wealth Report carried a feature about the changing world of concierge looking at how private banks and standalone concierge businesses operate. (We looked in particular at medical services.) The article referred to the work of RBC Echelon, part of RBC Wealth Management, with comments from its director of private wealth strategies, Bill Ringham. We also talked to RBC Echelon in February when the service was expanded.

Here are Ringham’s comments in full: 

FWR: What sort of concierge/client support services does RBC provide, and can you give four or five concrete examples?
Bill Ringham: Along with core services that support UHNW clients, such as estate planning, trust services and a robust Alternative Investment platform, and lending capabilities, RBC Echelon provides a vast and expanding range of specialized lifestyle concierge services including family dynamics and philanthropic consulting, art advisory, education consulting, private aviation, personal and cybersecurity consulting, private healthcare and bill pay, among others, all with preferred pricing terms for our clients. 

Clients appreciate that they have access to these services with the confidence that RBC Wealth Management has vetted the service and other clients like them are also using the service.  

Where in the US/wider market do you see demand for these services rising in particular and what perhaps is less busy now than it was a few years ago?
Bill Ringham: These services tend to be used by UHNW clients which is the fastest growing segment in the world according to a 2026 Atrata World Ultra Wealth Report, with a 15 per cent growth rate from 2025 in the US. This growth tends to be in major markets along the east coast and west coast as well as Texas and Chicago.

Who heads up this business at RBC and where does it sit in the wealth management area?
Bill Ringham: This service sits in RBC US Wealth Management’s Private Client Group (or Wealth Strategies and Solutions Group) led by Angie O’Leary, head of Wealth Strategies and Solutions at RBC Wealth Management who leads our UHNW strategy. (As already mentioned, Ringham leads the RBC Echelon platform.)

When did this area of business become a specific focus for the bank and, in your view, what value does it bring to the business?
Bill Ringham: We have always been focused on serving our UHNW clients. However, the creation of the RBC Echelon platform was started in 2019 with a continued buildout during that time. 

More recently, RBC announced on Investor Day, that RBC WM US committed to more than double the number of households for our UHNW segment by the year 2030. Focusing on a holistic approach and offering for the UHNW client segment creates value beyond investments to our clients and continues to solidify the relationship between the client, their advisor and the firm by providing solutions to their complex needs without many restrictions that accompany many other UHNW service platforms.

Does RBC charge a specific additional fee for concierge or is it included in the existing fee structure?
Bill Ringham: RBC Echelon uses many of the services that multi-family offices provide, uniquely positioned for our clients. This is unlike some multi-family offices that include concierge services as part of a fee, whether the client has a need or uses the offering. 

RBC Echelon’s integrated approach consolidates both wealth management and lifestyle support through a single, convenient point of access. Our clients can determine which concierge service they need and only pay for those services at preferred pricing. 

Why do you think these services are important? Are they important differentiators at a time when AI and other forces are commoditizing part of the industry?
Bill Ringham: We continue to expand our network of lifestyle services across a range of providers our clients need and look for in their financial service firm, so that they can focus on what truly matters i.e. their family, passions and legacies. These high touch services are designed to simplify their lives and can’t be replicated in a way that AI can commoditize.

Is the integration of concierge in wider wealth management offerings something that has limits, and what are the pros and cons of using outsourced specialists versus doing this in-house? With an eye on costs and margins, how is the decision made?
Bill Ringham: Many organizations, including both single and multi-family offices, have difficulty finding talent that extends to many of the core services clients need. As a result, many tend to outsource some of these services. The decision to work with our vetted specialists provides expertise in these areas whether consultative or lifestyle, as well as choices to exceed our client’s expectations.