The US arm of RBC Wealth Management has partnered with BlackRock-owned digital wealth management provider FutureAdvisor on a pilot program called RBC Investor Gateway for select clients in the US.
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This pilot program is part of RBC Wealth Management initiatives to provide more flexibility to both advisors and their clients.
The Gateway service will allow RBC Wealth Management financial advisors to reach a broader range of clients through FutureAdvisor’s digital advice platform.
Under the deal, RBC Wealth Management will act as the custodian of all RBC Investor Gateway client assets, producing client statements, trade confirmations and tax documents.
Additionally, FutureAdvisor will provide personalized digital advice based on a holistic look across a client’s portfolio.
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By GlobalDataThe service will initially focus on investors who want to use automated investment strategies and tools, or investors who are just beginning to build wealth.
RBC Wealth Management-US CEO John Taft said: "Integrating digital advice into our platform will never be a replacement for the deep relationships and high-touch service that our financial advisors provide.
"By including a digital advice option through RBC Investor Gateway, we can serve a broader group of clients today, and also meet the changing needs of investors over the course of their investment lifetime."
