No money needed to open an account – investments begin with as little as $100
TORONTO, Sept. 12, 2019 /CNW/ - Canadians who would like to explore online investing no longer need to have any cash saved to open an account and can get started investing with as little as $100 with the introduction of no-minimum requirement by online investment management service RBC InvestEase.
This change reflects learnings since the national launch of RBC InvestEase last November and further underscores the online advisor's focus on helping new investors start investing.
"We know there are Canadians who want to invest, but don't feel they have enough money or knowledge to take that first step," explained Rajan Bansi, Senior Director, Investments & Advice, RBC InvestEase. "RBC InvestEase's no-minimum requirement, means you're backed by the expertise of our Portfolio Advisors and our smart technology, and don't need to worry about any minimums."
Bansi added that RBC InvestEase is keeping everything as simple and convenient as possible, and all online. "You go to our website, answer a few questions about yourself and then you receive a commitment-free online portfolio recommendation," said Bansi. "If you like what you see and click 'accept', we open your account with whatever amount of money you want to deposit. As soon as your contributions reach $100 or more, we start investing on your behalf."
RBC InvestEase uses smart technology behind the scenes to automate the process, supported by a team of professionals who manage the investment portfolios, rebalancing throughout the year as needed. An added feature: Portfolio Advisors are accessible for investors to contact if they have any questions.
Investors also get to choose between a Standard or a Responsible Investing portfolio. The key difference with a Responsible Investing portfolio is that companies are screened on multiple environmental, social and governance (ESG) factors. Responsible Investing portfolios also exclude securities of companies involved in industries such as tobacco, controversial weapons and civilian firearms, as well as companies involved in very severe business controversies.
"We're continuing to bring convenience, speed and simplicity to investors. With our new Responsible Investing Portfolios, we're also bringing investors the opportunity to make a positive impact on the world, while achieving their financial goals," noted Bansi.
Why there are Canadians who haven't started investing yet?
When an RBC survey asked non-investors what their main reason was for not yet investing, over half (55%) responded, "I don't have enough money to invest." By making it possible to begin investing with as little as $100, RBC InvestEase is removing a big barrier, to help Canadians begin investing to build their financial future.
How you can get started?
Easy. Convenient. You simply click on the RBC InvestEase website, tell us a bit about yourself, and then receive a commitment-free online investment portfolio recommendation. When you accept our recommendation and choose either a TFSA, RRSP or non-registered account, we'll open that account for you, with any amount of money you feel comfortable contributing. You can then continue making contributions whenever you can. When your account balance reaches $100, RBC InvestEase will invest your money into your recommended portfolio.
What happens next?
Hands-free. Effortless. Once your investment portfolio is funded, RBC InvestEase will continuously monitor and automatically rebalance your portfolio, to help keep you on track. You can check your progress online, at your convenience – and as an added benefit, you can access live Portfolio Advisors if you have any questions, or need advice or insights.
What your investment portfolio will hold?
You choose. We do the work. Your RBC InvestEase investment portfolio will be made up of a mix of low-cost, passive ETFs (exchange-traded funds) and cash. You will have two choices of portfolios. If you want to achieve your future goals with a focus on minimizing fees, we have our Standard Portfolio. If you want to achieve your future goals and also make a positive impact on the world, we have our Responsible Investing Portfolio. For more information about both these options, please click here.
Our management fee – and the waiver we're offering:
Our latest offer: Open an account by September 30, 2019 and pay no management fees for 6 months – a promo code will be applied automatically. Afterwards, enjoy the same great service and pay only 0.5% management fee per year on your investment balance.
About RBC InvestEase
RBC InvestEase provides online discretionary investment management services, to meet the needs of investors looking for an easy and convenient digital solution for how they receive investment advice. We provide an online investing experience that is easy – from opening an account and getting started online to receiving portfolio recommendations and ongoing management of a client's investments. RBC InvestEase Inc. is a wholly-owned subsidiary of Royal Bank of Canada. More information is available at www.rbcinvestease.com.
SOURCE RBC Royal Bank
For further information: Media contact: Jill Anzarut, RBC Corporate Communications, 647-534-5118, [email protected]