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RBC Expands Benefits to Nursing Mothers, Parents

In an effort to expand benefits to working parents, the wealth management firm is adding a breast milk storage and shipping service for nursing mothers and improving its child care offering.

Advisors at RBC Wealth Management can now use Milk Stork, a service that will provide cooler kits, postage and shipping supplies to nursing mothers who are traveling for work purposes. Employees will be able to access the service as part of their benefit package.

The move was part of a broader announcement to improve its benefits package for working parents. It also includes the addition of center-based backup child care, available to all U.S. employees, as well as a new in-home backup care option for children. That in-home backup care benefit can also be used for the care of adults.

"Balancing work and home life can sometimes be difficult," said Shareen Luze, senior director of human resources for RBC Wealth Management. "This new service will give working parents the peace of mind that the next time school is closed, the sitter is on vacation or they are between childcare arrangements, high-quality back-up care is available."

WealthManagement.com recently wrote about the pitfalls and perils of being a working mother in the advisory industry.

At either small, independent shops or larger firms, starting a family can seem incompatible with building a practice for many women, perhaps more so than in other industries. The need to bring in new business, client expectations, unstructured or ad hoc family leave policies and the fact that most licenses expire after two years make it a difficult balancing act. Many take a very real revenue hit. 

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