RBC Direct Investing today announced it will offer its lower flat commission pricing to even more clients as of December 22, 2010.
Clients who hold between $50,000 and $100,000 in household1 assets invested through RBC Direct Investing, will pay a flat commission rate of $9.95 per Canadian or U.S. equity trade when placing orders through its online investing site or automated telephone service. Canadian and U.S. option commissions have also been lowered to $9.95, plus $1.25 per contract.
“RBC Direct Investing is committed to providing our clients with outstanding value for their money through innovative products and resources, award winning client service and competitive pricing,” said Jason Storsley, president and CEO, RBC Direct Investing.
Recent RBC Direct Investing research found that 81 per cent of Canadian self-directed investors use their online brokerage account for long-term investment goals. In addition, through conversations with clients, RBC Direct Investing has discovered that online self-directed investors are looking for more portfolio management tools to help them build and monitor their long-term investment portfolios.
“Our objective is to offer our clients a cost-effective edge in achieving their short- and long-term investment goals. We’re doing this by extending lower flat commission pricing to more of our clients, as well as through the recent introduction of portfolio analysis and rebalancing tools to help them set investment goals, build, manage and monitor their portfolios,” added Storsley.
This pricing update is the latest in a series of enhancements made by RBC Direct Investing. They include the recent addition of new portfolio management tools as well as being the only Canadian bank-owned online brokerage to offer Dual Currency in Registered Accounts - providing clients with the option to hold U.S. dollars and to settle trades in U.S. dollars in most registered accounts, including Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSPs).
All other RBC Direct Investing rates remain unchanged.
1) Household asset accounts are defined as RBC Direct Investing accounts for clients living in the same household, with the same address. You must advise RBC Direct Investing of these multiple account relationships.