The platform is in beta testing from Wednesday
RBC is launching a dedicated robo-advisor service called RBC Investease as a separate business unit.
The platform will offer automated investment advice and portfolio management backed up by a team of accredited portfolio advisors. It is designed for those investors that want a more digital experience.
A beta test of the platform is open to some RBC employees from Wednesday but no date for the public launch has been set.
On its website at RBCinvestease.com there is little information apart from a promise that “For a limited time pay no management fees.”
Earlier this year, National Bank of Canada invested in robo-advisor Nest Wealth and last week Wells Fargo unveiled its Intuitive Investor platform, becoming the latest Wall Street heavyweight to ‘go-robo’.
There have also been several tie-ups between investment firms and tech companies including Mandeville Private Client’s partnership with Smart Money Capital for a platform called WealthPort.
Last week, a survey from BMO Wealth Management highlighted that, although this is a growing area for investment, currently the use of robo-advisors is limited.
Just 10% of millennials, 9% of Gen-Xers and 5% of Boomers said that they use robo-advisors, mainly due to a lack of confidence in making decisions without the more personal assistance of a trusted financial advisor.
The platform will offer automated investment advice and portfolio management backed up by a team of accredited portfolio advisors. It is designed for those investors that want a more digital experience.
A beta test of the platform is open to some RBC employees from Wednesday but no date for the public launch has been set.
On its website at RBCinvestease.com there is little information apart from a promise that “For a limited time pay no management fees.”
Earlier this year, National Bank of Canada invested in robo-advisor Nest Wealth and last week Wells Fargo unveiled its Intuitive Investor platform, becoming the latest Wall Street heavyweight to ‘go-robo’.
There have also been several tie-ups between investment firms and tech companies including Mandeville Private Client’s partnership with Smart Money Capital for a platform called WealthPort.
Last week, a survey from BMO Wealth Management highlighted that, although this is a growing area for investment, currently the use of robo-advisors is limited.
Just 10% of millennials, 9% of Gen-Xers and 5% of Boomers said that they use robo-advisors, mainly due to a lack of confidence in making decisions without the more personal assistance of a trusted financial advisor.
