RBC Direct Investing
By Stacey Petersen, Vice President Strategy, RBC Direct Investing
Our focus at RBC Direct Investing for 2020 was continuously improving the online experience for our clients, bringing exceptional value for investors seeking direct access to markets at a low cost. We accomplished a great deal this year, with more to come!
Looking Back on 2020
Mobile Investing Experience
In May, we introduced a refreshed Direct Investing mobile-friendly experience within the RBC Banking app, providing investors easy access to great resources like analyst ratings, news and charts on the detailed quote page for both Android and iOS devices. For RBC Online Banking clients with a Direct Investing account, there’s the added convenience of being able to easily toggle between banking and investing profiles.
Work did not end with the launch. Refinements to the design in response to client feedback are ongoing, and we’ve added new functionality to the mobile experience, such as the ability to open a new Direct Investing account through the app.
Market Data
Building on the launch of free real-time streaming quotes for all clients in December of 2019, in April we introduced Level 2 quotes on TSX/TSX-V, free for all clients. Real-time streaming on the online Standalone Watchlist went live in June. This competitive differentiator is free premium market data available to all clients, without the need to qualify on the basis of trade volume or asset level.
Client Service
RBC DI Contact Centres serve clients in English, French, Cantonese and Mandarin; we are proud to offer a domestic call centre for times when clients have questions. Call volumes spiked during the early days of the pandemic, at a time when we were prioritizing the health and safety of our contact centre representatives. As part of meeting that challenge and ensuring that we continue to deliver on our promise to Royal Circle clients that they will have access to our most experience licensed representatives, we introduced authenticated call routing at our call centres.
Modernizing Our Platform
A number of design and navigation improvements were made to our platform over the year to ensure that key information and resources are easily found and accessed. The Detailed Quote page, our Analyst Ratings page and the way we display transactions have undergone a series of significant changes to make them more client-friendly.
Investor Education
Our digital Inspired Investor newsletter is widely read, providing helpful tips and insights to build investing knowledge. A special print-magazine edition was distributed through The Globe and Mail in February to mark our 30th anniversary. Inspired Investor is available by subscription to DI clients, and the public can now subscribe, too.
Those looking to grow their investment knowledge can tap into Investing Academy for a deeper dive on investment related topics like “Why Buy Stocks” or “How to Invest in Options.”
And Sometimes It Isn’t What You See
We’ve approached the Accessibility for Ontarians with Disability Act – which comes into effect in January – as an opportunity to review our platform and public sites to ensure they are welcoming and easy to use for investors with accessibility needs. We consider the legislation as a minimum standard and strive for an exceptional experience for all clients.
LOOKING AHEAD TO 2021
We’re paying close attention to client feedback to continuously improve in the areas that matter most. Here’s a look at what lies ahead.
Our Platform
We will build on platform and digital enhancements in the coming months and look forward to sharing updates about the active-trader experience with you soon.
In 2021, we’re building additional resiliency into all areas of our ecosystem, as we know that it is key to ensuring clients continue to have uninterrupted access to the markets.
In the near term, clients will see refinements to Order Status pages and more intuitive order filtering.
Making It Easier to Open Accounts
We’ve made great strides on improving our online account open experience. Online applications for our most common account types can be completed by RBC Online Banking clients in 10 minutes or less. In the next few weeks, many non-RBC clients will be able to take advantage of this as well. More to follow!
Research Resources
Work is underway to make it easier to find existing news and research across our platform as we continue to explore new research partnerships.
Stock Screeners
A more robust Stock Screener is in the works, with improved charting and additional filtering. We’ll also look to refresh the ETF and Mutual Fund Screeners.
We look forward to sharing updates about these initiatives in the coming months and throughout 2021!