RBC announced Nov. 29 that it is offering a new robo-advisor across Canada. RBC InvestEase provides an online investment portfolio recommendation. It also monitors and automatically rebalances clients’ portfolios. Management fees on investment balances total 0.5%.
"Canadians told us they are looking for a new way to invest that fits into their busy lifestyles. They want a convenient automated advice solution that is available whenever they are ready to get started," says Stuart Rutledge, Senior Vice-President, Personal Savings & Investments, RBC. "They also told us they want to be hands-off, with experts making decisions for them, and easy access to an expert, if needed. We listened and RBC InvestEase is our response."
Clients can begin investing with $1,000 in a TFSA, an RRSP or a non-registered account. To get started, they answer an online questionnaire and then RBC InvestEase matches them with an investment portfolio recommendation that corresponds to one of five risk profiles, ranging from very conservative to aggressive growth. Once an account is open and funded, the robo-advisor builds a portfolio comprised of index ETFs developed by RBC Global Asset Management. The portfolio is then “continuously monitored and automatically rebalanced,” says RBC.
RBC InvestEase clients have access to a team of accredited portfolio advisors by phone to answer questions.