TORONTO – The Royal Bank of Canada has developed a robo-consulting platform across the country as demand grows with lower prices and digital investment opportunities.
The Bank launched InvestEase on a pilot basis in three provinces last November, but has now officially opened a service for new and existing customers across Canada.
National deployment comes as a competitor in the robo-adviser area between both existing banks and emerging finesse.
Toronto-Dominion Bank recently collaborated with the American company Hydrogen, which launched its own robo-guidance product, and Montreal launched its SmartFolio digital investment platform in 2016.
Meanwhile, Wealthsimple's robo-adviser now has roughly 100,000 clients in Canada, the United States and the UK and manages more than $ 2.5 billion in assets.
Rebecca Peacock, director of strategy for RBC InvestEase, says the platform has been developed to satisfy the "growing middle" segment of clients who want investment advice but all online.