Users of RBC’s award-winning digital advice platform MyAdvisor now exceed 2 million.

RBC’s MyAdvisor provides real-time access to personalised plans and live advisers. Launched in 2017, RBC MyAdvisor provides the best of both worlds. It offers digitised advice supported by live adviser expertise by video, phone or in-person at the branch.

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Specifically, MyAdvisor connects clients from their homes and workplace to financial advisers to help them achieve their financial goals.

For example, MyAdvisor provides a complete view of clients’ financial accounts – including those held at other banks – on interactive screens. Clients can view all their savings, investments and financial goals and make real-time adjustments themselves or with a financial adviser.

RBC MyAdvisor: client logins increase by 21%

In addition to hitting 2 million MyAdvisor users, RBC says that between April and September 2020 alone:

  • Completed appointments with advisors grew 80%;
  • Video appointments jumped to 20% from 2%, and
  • The number of clients logging in increased 21%.

My Advisor continues to expand its capabilities, based on customers and adviser feedback.

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This year, the platform added a new cash management feature, CashWise. This is particularly critical at a time when many are dealing with potential reduction or loss of income.

“We’re ensuring Canadians always know where they stand when it comes to their finances, to give them some certainty and confidence in an ever-changing world,” says Michael Walker, Vice-President and Head of Mutual Funds Distribution & Financial Planning, whose team led the development of MyAdvisor.

“Clients are connected to a living, breathing plan – one that helps them visualise what their financial future could look like. And it shows them how they can impact it through the decisions they’re making today. Add to this the expertise of our advisors and we’re continuing to bring clients the best of both worlds – digitised advice with a very personal touch.”

Adds Walker: “With all the changes in everyone’s lives right now, we realise many Canadians have questions. They’re unclear where they stand financially. Is their retirement still on track, what can they do to rebuild their ‘just in case’ fund?

“We’re bringing them the assurance they’re seeking, through the up-to-the-minute picture of their financial health that MyAdvisor provides, supported by one-to-one conversations with our advisers.

RBC’s Award winning MyAdvisor

The successful launch of MyAdvisor resulted in RBC winning the award for Best Customer Facing Technology at the 33rd annual RBI global awards in 2018.

And earlier this year, the success of MyAdvisor was a contributory factor to RBC winning the award for Best North American Retail Bank at RBI’s 35th annual Global Awards.

Moreover, Neil McLaughlin, group head, personal and commercial banking at RBC, was recognised as RBI’s Retail Banker of the Year.