Real RBC advisors are the new robo-advisors

RBC advisors have a new tool to serve clients online, effectively blurring the line between human advisor and robo-advisor.

Read: Do human advisor fees offer more value than robo-advisor fees?

The bank is using live video to connect clients with advisors in real time, using an online advice platform called MyAdvisor.

The platform allows both client and advisor to view and adjust a dashboard showing the client’s savings and investment goals, and can establish actions to achieve those goals. Adjustments made on either side are viewed in real time.

Read: Robo-advisors trying to build trust for likely market correction

Now being piloted in Ontario, MyAdvisor is using feedback from pilot participants ahead of its national launch by midyear.

Also read: Major data breach touches U.S. robo, but risk ‘extremely low’

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.