RBC InvestEase - Client Pilot
RBC InvestEase is a new online investment management service that makes investing easy. We’ll provide you with an instant portfolio recommendation, and manage your investments at a low cost. Once you sign up, you can start making contributions and track your investments online, while we take care of automatically rebalancing your portfolio to help you reach your investing goals.
RBC InvestEase offers you convenient investment management without the high fees you’d typically pay for traditional investment advice*. You can view your investments and track your progress online any time, and get help from our team of experienced investment professionals when you need it.
*Traditional investment advice refers to full-service investment advice offered in Canada to individual investors.
Opening an Account
During our pilot, you can open an account with us at any time online. Here’s how:
- On our welcome page fill in the fields on the page and select Get Started.
- Answer some questions about yourself so we can understand your needs and recommend a personalized investment portfolio.
- If you’re happy with our recommended portfolio, you can open an account online in just a few quick steps.
- A Portfolio Advisor will call you to confirm that your investment plan suits your needs.
- Once your account is open, log in to your dashboard and make your first deposit to start investing.
You can call us at 1-800-769-2531 if you have more questions about opening an account.
During our pilot, you can open a non-registered investment account, a Registered Retirement Savings Plan (RRSP) or a Tax-Free Savings Account (TFSA). Even though you may already have other non-registered accounts with RBC, you’ll need to open a new account.
We plan on offering other accounts in the future, like a Locked-In Retirement Account (LIRA), Restricted Locked-in Registered Retirement Savings Plan (RLSP), Registered Retirement Income Fund (RRIF), Registered Education Savings Plan (RESP) and joint accounts.
During our pilot, RBC InvestEase won't charge clients any investment management fees. Only management fees and expenses (weighted average between 0.12%-0.14%) charged by the exchange traded fund’s (ETF) manager will apply.
RBC InvestEase investment management fees will be introduced six months after our full public launch, and we’ll contact you before we start charging fees to your account.
After our full public launch, here are the fees you may be charged:
- An annual investment management fee of 0.50% + HST (billed monthly, based on average Assets Under Management)
- A fee of $135 if you transfer money from an RBC InvestEase account to another financial institution
You need to contribute at least $1,000 into your account to start so that we can invest your funds into a diversified portfolio, which will have a mix of assets suited to your investment plan.
This $1,000 minimum only applies to your first deposit. After that, you can choose to deposit as much or as little as you’d like. Just keep in mind that your plan may go off track if your contributions don’t match what you set out in your investment plan. We suggest maintaining a balance of $1,000 or more to ensure your portfolio is always diversified.
If you need to update your investment plan, give us a call at 1-800-769-2531 and a Portfolio Advisor will be happy to help you.
If you’d like to join the pilot, you must meet the following criteria:
- You are an RBC client with a personal chequing or savings account and access to RBC Online Banking
- You are a resident of Ontario
- You are at least 18 years old
- You were not born in the U.S. and are not a U.S. resident for tax purposes
- You have a Social Insurance Number that starts with a number from 1 to 7
- You are opening this account on your own behalf and are not a General Power of Attorney, Public Trust or third party
- You’re the only person with financial interest in and exerting control over the assets in this account
Managing Your Account
Automatic transfers are an easy way to make sure your investment plan stays on track. Here’s how to set up pre-authorized, ongoing contributions:
- Sign in to RBC InvestEase.
- In the top menu, choose Transfer funds.
- Fill in the fields, including the Amount and Frequency of the transfers.
Deposits you make to your account between 4:30 a.m. and 7:54 p.m. Eastern Standard Time will be processed in real time. Deposits made during all other times will be processed the next business day.
If you withdraw money from your account, it may take up to six business days for the transaction to be processed.
You won’t need to pay any fees to withdraw funds from your account. You’ll only pay a fee of $135 if you transfer money from your account to an account at another financial institution.
If you’d like to withdraw funds from your account, call 1-800-769-2531 and a Portfolio Advisor can help.
To find your account statements:
- Sign in to RBC InvestEase.
- In the top menu, choose Documents.
We’ll mail your tax documentation during the first quarter of each year.
You can’t set someone else as your trading authority, but RBC InvestEase is a fully discretionary portfolio manager, meaning we can buy and sell securities on your behalf without needing consent for each transaction.
If you decide to close your account, you can call us at 1-800-769-2531 and speak with a Portfolio Advisor.
During our pilot, you pay no fees. If you close your account once fees are being charged, you’ll be charged any outstanding advisory fees on a prorated basis.
Managing Your Portfolio
Your investment portfolio uses an asset allocation mix – a combination of stocks, bonds and cash determined by your risk profile – to help you reach your investment goals. As time passes, your portfolio may drift from the original mix (or target allocation) due to the relative performance of each asset class or because of deposits and/or withdrawals.
As a result, your portfolio may become unbalanced with too much of one asset class or too little of another. When this happens, RBC InvestEase buys or sells the required ETF (Exchange Traded Fund) units to bring you back to your original target allocation. Rebalancing ensures that your portfolio stays in line with your objectives.
An exchange traded fund (ETF) is similar to a mutual fund, except an ETF trades like a stock on an exchange. Similar to a mutual fund, an investor buys units in an ETF to own a proportional interest of a pool of assets such as stocks or bonds. ETFs create opportunities for diversification since they allow more investors to access a broad range of assets at low costs.
If you’d like to learn more about ETFs, browse our product profiles below:
The investment returns shown on your dashboard are calculated using a modified time-weighted rate of return. This method accounts for your portfolio’s performance and timing of cash flows in and out of your account. These calculations exclude this month’s activities.
Sometimes, plans change. If your investment plan no longer makes sense for your needs or if you’ve had an important life change, give us a call at 1-800-769-2531. A Portfolio Advisor will ask a few questions to understand your situation and help you update your plan.
RBC Direct Investing Inc. is the custodian of the funds that you invest with RBC InvestEase. RBC Direct Investing Inc. is responsible for keeping your financial assets safe, maintaining your accounts, record keeping, trade settlement and reporting. RBC Direct Investing Inc. is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).
Through RBC Direct Investing Inc., your account is protected up to certain limits by the CIPF in the event of insolvency of RBC Direct Investing Inc. The CIPF does not protect your assets from losses due to market movements or the activities of RBC InvestEase. If you’d like to learn more about these limits,please visit the CIPF website (www.cipf.ca) for more information.
Under the Online Security Guarantee, if an unauthorized transaction is made in your account through the RBC InvestEase online dashboard , you will be reimbursed 100% for any direct losses in your account. Terms and conditions will apply.