RBC Direct Investing's Community connecting "people like me"
TORONTO, Aug. 19, 2014 /CNW/ - About a year into its life, RBC Direct
Investing's Community - an online discussion portal and a Canadian online "first" - is proving
popular with everyone from Millennials to retirees who want to manage
their own investments, while also drawing upon the experiences of other
self-directed investors at the same time.
Community was created in early 2013 to meet the needs of investors who are
increasingly looking to social channels to connect with "people like
me." Millennials (ages 18 to 34) and Gen Xers (35 to 48) now make up
the largest group of members (51 per cent) in Community, with boomers and retirees forming the rest of the membership.
"We know do-it-yourself investors of all ages are increasingly engaging
in social interactions online and are comfortable asking questions and
sharing opinions on social media sites," said Michael MacDonald,
vice-president, Strategy for RBC Direct Investing. "We're now seeing
this comfort level play out in our online Community - members are exchanging advice, tips and encouragement and learning
from each other as they invest."
What particularly sets Community apart in the online investment space is the section called "Universe" -
a first when it was introduced and still unmatched in Canada.
"Universe" allows members to anonymously compare their investment
holdings and returns against those of other members, on an interactive
chart where members and their holdings are represented by dots and
clusters. Clicking on a specific dot reveals that member's holdings (as
percentages only; dollar figures are not disclosed to other members).
In the "Forums" section, members communicate directly with each other,
asking questions and sharing their experiences. While RBC Direct
Investing monitors the site to ensure members' privacy is protected,
the online brokerage does not participate in the conversations.
To join Community, investors must be clients of RBC Direct Investing - or clients of RBC
Royal Bank Online Banking with an RBC Direct Investing Practice Account
- and they need to identify a goal they hope to achieve through their
online investments. To date, over 8,500 clients have joined Community and a cross-Canada contest is now underway to encourage more investors
to become members. From now until October 9, 2014, a series of weekly
prizes of $1,000 each will be awarded. More details about this contest
and Community are available at rbcdirectinvesting.com/communitycontest/.
About RBC Direct Investing
One of Canada's leading online brokerages, RBC Direct Investing is a
wholly owned subsidiary of Royal Bank of Canada. RBC Direct Investing
provides innovative tools and resources for investors who prefer to
manage all or a portion of their investment portfolio. Clients have
online access to their investments 24/7 and can choose from a broad
range of investment products, including stocks, bonds, exchange-traded
funds, GICs, and thousands of mutual funds. Online innovations such
as RBC Direct Investing Community and no-risk Practice Accounts - together with comprehensive learning resources - help give all online
investors the confidence they need to manage their own investments. RBC
Direct Investing offers access to Series D mutual funds, a series created and priced for self-directed investors,
providing them with lower pricing for conducting their own research and
making their own investment decisions. For new as well as seasoned
investors who wish to speak to someone directly, RBC Direct
Investing has an award-winning team of investment services
representatives available to respond to clients' account and trading
inquiries. RBC Direct Investing is a Member of the Canadian Investor
Protection Fund. For more information, please visit rbcdirectinvesting.com.
For further information:
Kathy Bevan, RBC Communications, 416-974-8820