There’s a lot of choice out there when it comes to figuring out the best way to put your money to work. You could take a “do-it-yourself” approach through an online brokerage, go the advisor route, or opt for “robo” (like RBC InvestEase (article: How does InvestEase work?)) – which offers online convenience together with a team of professionals you can reach out to.
Which investing option is right for you?
While reaching your investment goals is no joke, we like to play with a little humour now and then. Using our version of the time-tested joke – “Why did the investor cross the road?” – we’ll look at the three common investing options.
Why did the self-directed investor cross the road?
Because the DIY investor looks at the road and says, “You call this a road? I got this!” Self-directed investors want to be in complete control of all the decision-making when it comes to their investments. Using an online brokerage, these investors travel across the road in full confidence knowing they’re ready and willing to take on the work themselves — supported by tools and research.
Why did the investor take the financial advisor route to cross the road?
This investor sees not only the road, but also the potholes in that road. There’s often poor visibility between where this investor is and where they want to go. Without a clear line of sight, this investor wants the comfort of personalized advice along the entire route.
Why did the investor choose “robo” to cross the road?
This investor knows there’s a road that needs to be crossed but wants to take an easy, convenient and hands-off route – while still ensuring they’re headed in the right direction. He or she knows technology has opened up new ways of doing things, even crossing roads, but doesn’t necessarily want to know all the specifics. Still, having an expert on hand to reach out to at any time is comforting for this investor.
So what does all of this look like when it comes to investing at RBC? We’ll get you across the road no matter which approach you choose. There’s no wrong route; it’s just determining the investing option (or options) that are right for you.