New portfolio of services expands on the
bank's expertise in serving the financial needs of Health Care
Practitioners
TORONTO, Dec. 3, 2018 /CNW/ - TD Bank Group ('TD') today
announced the launch of the TD Wealth Management for Health Care
Practitioners service – a wealth management program supported by a
team of dedicated senior private bankers, specialized investment
managers, financial planners and commercial lending specialists
with a deep understanding of the unique financial needs and
challenges faced by those dedicated to caring for others.
"We understand medical and health care professionals have unique
financial needs, and it can benefit those professionals and their
families to work with a specialized team of banking, investment,
commercial banking and wealth advisory services to help achieve
their financial and life goals," says Dave Kelly, TD Senior Vice
President for Private Wealth Management.
Through TD Wealth Private Banking, TD Wealth Management for
Health Care Practitioners provides a team of wealth advisory
services dedicated to building personalized goals-based plans for
what matters most to the health care practitioner and their
families. The team is built around specialists who provide tailored
advice and planning for a range of services, including: banking,
borrowing, giving, incorporation, insurance, retirement, tax, trust
and estate, and wealth building and protection needs.
"Our team of experienced advisors can offer a range of wealth
management products and services for physicians just starting out,
juggling medical school loans while setting up a practice, to
retiring doctors looking to sell or close their business," says
Rowena Chan, TD Senior Vice President for Financial Planning.
The TD Wealth Management for Health Care Practitioners service
will now pair its private banking services with TD's established
Business Bank and Medical Student program for a distinct and
compelling offer for health care professionals that have been
actively using separate services from TD for investment and
business advice.
Doctors, Dentists and other health care professionals that are
interested to learn more about the TD Wealth Management for Health
Care Practitioners service can visit www.TD.com/healthcare.
New Graduate, Operating a Growing Practice, or Approaching
Retirement
Doctors begin their careers and start generating income later
due to the time and energy it takes to complete undergraduate and
medical degree(s), specialized clinical training and residency
before full-time employment begins.
"I was delighted with the service and attention I received with
TD Private Banking. The services and information were delivered in
a succinct yet thorough package. My advisor took the time and
attention to listen to my concerns, addressing them immediately and
ensuring that there was follow-up after. Working in a busy
profession where I often have to delegate, I feel confident working
with TD Private Banking as I know they are there to make sure my
financial and banking interests are met," says Dr. Bonnie Shum, fifth year resident, general
surgery program, McMaster
University.
Medical professionals receive above average compensation but
often have high student debt and significant small business loans
as they launch and operate a growing private practice. For many,
spending most of their day and time between clinics, hospitals and
offices to care for their patients is commonplace. In fact,
according to the Canadian Medical Association, the average doctor
spends 33 hours per week on direct patient carei,
leaving little time for other activities.
"In addition to serving their patients, health care
practitioners also need to balance the demands of personal and
family life, often along with pressures of running a business,"
added Kelly. "This three-dimensional role that health care
practitioners can find themselves in brings a tremendous amount of
pressure and stress. TD Wealth Management for Health Care
Practitioners is a group of services built to help doctors thrive
in all aspects of life, no matter what career stage they are
at."
The TD Wealth Management for Health Care Practitioners service
has launched in the following markets: Vancouver, British Columbia; Calgary, Alberta; Burlington, Hamilton, London, Mississauga, Oakville, Ottawa and Toronto,
Ontario. Several more regional centres are planned to launch
over the next several months including Victoria, British Columbia; Edmonton, Alberta; Saskatoon, Saskatchewan; Winnipeg, Manitoba; Montreal, Québec; and Halifax, Nova Scotia.
Investments in Health Care at TD
TD has a long and rich history of giving back to customers,
colleagues and communities. In fact, Better Health is a
foundational pillar of TD's Ready Commitment, an initiative where
TD is targeting C$1 billion by 2030
towards community giving. Since 1998, TD has invested over
$83.5 million (CAD) dollars in
hospitals, health care programs, and children's health and has made
the following commitments to continue its focus on improved health
for all Canadians:
- Last month, TD announced a $2.5
million contribution over five years to University of Toronto's Creative Destruction Lab
(CDL), to bring aspiring entrepreneurs and technological
innovations to market with focus on biotechnology, bioinformatics,
diagnostics and digital care for Canadians.
- Data Scientists from Layer 6, TD's global Artificial
Intelligence (AI) thought leader and pioneer in the delivery of
responsive, personalized and insight-driven experiences, is
currently supporting academic work at University of Toronto by developing advanced
machine learning models to improve the health outcomes of people
living with diabetes in Canada.
The first research goal is to further sub-type patients identified
with this highly prevalent chronic disease. The research will
demonstrate opportunities for machine learning to enable more
personalized and effective treatment, while providing more
efficient use of health resources.
- Together with the Michael Garron Hospital, TD has helped fund
research focusing on techniques to improve diabetes management and
increase access to care for individuals living with Hepatitis
C.
- TD helped Health Sciences North with a $250,000 contribution towards expanding their
Learner's Simulation Laboratory. The lab replicates an emergency
room, an intensive care unit and other medical settings to enhance
staff training exercises.
- TD announced a $500,000 gift to
the TD Women's and Children's Health Centre, supporting the
development of a new pediatric oncology unit, as well as TD grants
in Medical Excellence with designated funding to support nursing
education.
TD Wealth represents the products and services offered by TD
Waterhouse Canada Inc., TD Waterhouse Private Investment Counsel
Inc., TD Wealth Private Banking (offered by The Toronto-Dominion
Bank) and TD Wealth Private Trust (offered by The Canada Trust
Company).
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively
known as TD Bank Group ("TD" or the "Bank"). TD is the sixth
largest bank in North America by
branches and serves more than 25 million customers in three key
businesses operating in a number of locations in financial centres
around the globe: Canadian Retail, including TD Canada Trust, TD
Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD
Insurance; U.S. Retail, including TD Bank, America's Most
Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an
investment in TD Ameritrade; and Wholesale Banking, including TD
Securities. TD also ranks among the world's leading online
financial services firms, with more than 12 million active online
and mobile customers. TD had CDN$1.3
trillion in assets on October 31,
2018. The Toronto-Dominion Bank trades under the symbol "TD"
on the Toronto and New York Stock
Exchanges.
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i 2017 CMA
Physician Workforce Survey, Canadian Medical Association:
https://www.cma.ca/Assets/assets-library/document/en/advocacy/34-TrendData-e.pdf
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SOURCE TD Bank Group