RBC Wealth Management—U.S. has launched new products to improve financial advisers’ understanding of clients’ goals.
The firm, in collaboration with fintech firm Envestnet, introduced a new platform called AdvisoryLink. The platform’s ability to consolidate client portfolios into one desktop portal offers advisers a better view of their clients’ financial position.
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RBC Wealth Management head of Advice and Solutions Group Ann Senne said: “This new, state-of-the-art advisory infrastructure will help maximise the benefits of those previous investments and future ones as well.”
In addition, RBC also introduced an enhanced unified managed account (UMA) dubbed RBC Unified Portfolio. Through the new offering, clients will be able to add fixed income solutions and over 200 strategist portfolios run by the firm’s in-house experts and third parties to the mutual funds and ETFs in their accounts.
The new UMA will enable clients gain more insight into their account performance. At the same time, it will offer customised tax-management and enable clients to implement impact investing strategies through personal conviction overlay screens.
RBC Wealth Management-U.S director of Advisory Programs Tracy Johnson said: “With the launch of RBC Unified Portfolio we will be able to bring portfolio costs down by bringing most of the overlay portfolio management in-house. Those savings will be passed on to our clients.”
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By GlobalDataThe latest product launches come shortly after RBC’s launch of its cloud-based digital alternative investment platform for HNW customers, in association with technology firm Artivest.
