RBC Direct Investing (formerly Action Direct) experience
- Shakespeare
- Veteran Contributor
- Posts: 23396
- Joined: 15 Feb 2005 23:25
- Location: Calgary, AB
Re: RBC Direct Investing (formerly Action Direct) experience
A penalizing interest rate on non-margin accounts is normal.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Re: RBC Direct Investing (formerly Action Direct) experience
RBC Investor Services is replacing back office staff with offshore workers, but not before having the Canadian workers train their replacements.
http://www.cbc.ca/news/canada/british-c ... rkers.html
It may or may not be a breach of the Foreign Workers program rules, but it is definitely a sleazy cost cutting measure. Will do nothing to ensure my loyalty.
http://www.cbc.ca/news/canada/british-c ... rkers.html
It may or may not be a breach of the Foreign Workers program rules, but it is definitely a sleazy cost cutting measure. Will do nothing to ensure my loyalty.
-
- Veteran Contributor
- Posts: 13310
- Joined: 20 Feb 2005 16:47
Re: RBC Direct Investing (formerly Action Direct) experience
I'm helping an elderly friend move from RBC full-service brokerage to RBCDI. Though OK with using a computer, she is having a lot of trouble navigating the RBCDI website and, unfortunately, I live at least 90 minutes away. Can the RBCDI users here provide step-by-step directions from log-in to:
-- The full inventory of strips so my friend can get a full view of what's on offer
-- The page showing GICs on offer.
Thanks
-- The full inventory of strips so my friend can get a full view of what's on offer
-- The page showing GICs on offer.
Thanks
- northbeach
- Veteran Contributor
- Posts: 1016
- Joined: 07 Mar 2005 18:22
- Location: The County
Re: RBC Direct Investing (formerly Action Direct) experience
One can phone RBCDI and ask the person answering the call to lead you step by step throughout the RBCDI website. This would include anything from finding forms to finding the GIC page.brucecohen wrote:I'm helping an elderly friend move from RBC full-service brokerage to RBCDI. Though OK with using a computer, she is having a lot of trouble navigating the RBCDI website and, unfortunately, I live at least 90 minutes away. Can the RBCDI users here provide step-by-step directions from log-in to:
-- The full inventory of strips so my friend can get a full view of what's on offer
-- The page showing GICs on offer.
Thanks
Last edited by northbeach on 27 Aug 2013 11:40, edited 1 time in total.
- Shakespeare
- Veteran Contributor
- Posts: 23396
- Joined: 15 Feb 2005 23:25
- Location: Calgary, AB
Re: RBC Direct Investing (formerly Action Direct) experience
I log in through the Royal Bank site. https://www1.royalbank.com/
On the My Accounts tab select Direct Investing [don't remember if the accounts are automatically linked].
On the Direct Investing site select the Trade tab
When that opens select the Fixed Income link.
A table with the best GIC rates will appear.
For strips there is a search form below the GIC table.
Select "strips" in the search box for type.
On the My Accounts tab select Direct Investing [don't remember if the accounts are automatically linked].
On the Direct Investing site select the Trade tab
When that opens select the Fixed Income link.
A table with the best GIC rates will appear.
For strips there is a search form below the GIC table.
Select "strips" in the search box for type.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
-
- Veteran Contributor
- Posts: 13310
- Joined: 20 Feb 2005 16:47
Re: RBC Direct Investing (formerly Action Direct) experience
Is it possible to access the inventory without doing a search? TDW lets you browse the full inventory divided into 0-5 yrs, 5-10, 10+Shakespeare wrote: For strips there is a search form below the GIC table.
Select "strips" in the search box for type.
If she has to do a search, can she simply set the parameters as 5-10 years?
She's reluctant/unwilling to phone RBCDI to have an agent walk her through it. Pride, I guess.
- Shakespeare
- Veteran Contributor
- Posts: 23396
- Joined: 15 Feb 2005 23:25
- Location: Calgary, AB
Re: RBC Direct Investing (formerly Action Direct) experience
If you put "strips" and "par value" (needed; I used $10K) and "5-8 years" you get more than 50 results. She will have to narrow it down.
RBCDI wrote:Fixed Income Search FAQ
How do I find a fixed income product like a bond or GIC that I may be interested in?
What is the difference between Fixed Income Search and Advanced Search?
What information is available when viewing the Fixed Income Search results?
How do I find a fixed income product like a bond or GIC that I may be interested in?
The Fixed Income Search allows you to find a fixed income product that is tailored to your needs. RBC Direct Investing's fixed income products include bonds, strip bonds, money market instruments and GICs.
Using this search feature you can choose the criteria that are of interest and then review the results to find the product that's right for you.
What is the difference between Fixed Income Search and Advanced Search?
Fixed Income Search is the basic search with a simple set of criteria including:
Product -
Bonds
Money Markets
GICs
Type - Table below shows possible values
Product: Bonds GICs Money Markets
Type:
All Types
Government of Canada
Provincial
Municipal (except Quebec)Quebec Municipal
Corporate Strips
Compound Annual
Semi-Annual Quarterly Monthly
All Types
Commercial Paper Bankers Acceptances
Maturity (yrs.) -Table below shows possible values
Product: Bonds GICs Money Markets
Term:
Any term
Matures between 1-2 yrs
Matures between 2 -5 yrs
Matures between 5 -8 yrs
Matures between 8 -15 yrs
Matures after 15 yrs
1yr
2yr
3yr
4yr
5yr
Any Term
Amount (PAR Value) CAD - For bonds or money market instruments, you must enter the par value amount desired.
Advanced Search offers additional criteria including:
Selectable date range for maturity
Coupon value range
Yield range
Price/$100 range
What information is available when viewing the Fixed Income Search results?Each product search results provides:
Description - description links take you to the Product Details page
Maturity date - it is sortable
Buy - buy links take you to the order entry page
Depending on the fixed income product you get additional information:
Bonds - coupon, approximate semi-annual yield, approximate price/100 CAD, rating, amount of inventory and special term.
GICs - interest rate.
Commercial Papers - approximate annual yield, approximate price/100 CAD and rating.
T-bills - approximate annual yield and approximate price/100 CAD.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Re: RBC Direct Investing (formerly Action Direct) experience
I think they offer a pretty solid platform. My complaint is they changed their research. I used to be able to find their top picks . They don't allow the discount people access to that info. A lot of their stock charts are so small print that it is impossible to read.
- Peculiar_Investor
- Administrator
- Posts: 13267
- Joined: 01 Mar 2005 14:52
- Location: Calgary
- Contact:
Re: RBC Direct Investing (formerly Action Direct) experience
This could also have gone in the Broker Promotions topic, New, Lower Commissions - RBC Direct Investing and $9.95 Trades for All – Open Your Account, Today. – RBC Direct Investing
No more minimum balance requirement.RBC Direct Investing wrote:All clients pay a low commission of $9.95 flat CDN or US per equity trade. Plus, if you trade 150 times or more per quarter, you pay $6.95 flat CDN or US per equity trade.
finiki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Re: RBC Direct Investing (formerly Action Direct) experience
According to RFD posts, there is a maintenance fee $25/quarter for accounts with $15k or less combined asset.
link to RBC comm-fees schedule
http://www.rbcdirectinvesting.com/pdf/c ... n-fees.pdf
link to RBC comm-fees schedule
http://www.rbcdirectinvesting.com/pdf/c ... n-fees.pdf
I am cautiously optimistic. When it goes up, I claim I have been optimistic; when it goes down, I claim I have been cautious.
-
- Contributor
- Posts: 616
- Joined: 04 Dec 2010 20:39
Re: RBC Direct Investing (formerly Action Direct) experience
Opening the RBCDI-RRSP account was a pleasant experience. This is more than I can say about BMOIL, which went out of its way to discourage my business.
An unexpected perk is that I can now save $10 per month at IB by using the quotes here (I assume it is live).
An unexpected perk is that I can now save $10 per month at IB by using the quotes here (I assume it is live).
- parvus
- Veteran Contributor
- Posts: 10014
- Joined: 20 Feb 2005 16:09
- Location: Waiting for the real estate meltdown on Rua Açores.
Re: RBC Direct Investing (formerly Action Direct) experience
I'm still PO'd at the restrictions on Mawer funds, but I'll find a workaround.
Wovon man nicht sprechen kann, darüber muß man schweigen — a wit
finiki, the Canadian financial wiki Your go-to guide for financial basics
finiki, the Canadian financial wiki Your go-to guide for financial basics
- Shakespeare
- Veteran Contributor
- Posts: 23396
- Joined: 15 Feb 2005 23:25
- Location: Calgary, AB
Re: RBC Direct Investing (formerly Action Direct) experience
BTG 772?
http://www.beutelgoodman.com/MutualFund ... lanced.pdf
(Yes, RBCDI offers it, and they say the MER is 1.00%??)
http://www.beutelgoodman.com/MutualFund ... lanced.pdf
(Yes, RBCDI offers it, and they say the MER is 1.00%??)
RBCDI wrote:Beutel Goodman Balanced Class D(BTG772:CAD)
19.3205NAV Increase0.0643(0.33%)
Please Note: A lower fee option is available for the same mutual fund with a management fee of 1.00%. For more information please obtain a quote for BTG772.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Re: RBC Direct Investing (formerly Action Direct) experience
parvus wrote:I'm still PO'd at the restrictions on Mawer funds, but I'll find a workaround.
Are you referring to restrictions put by RBC or Mawer restrictions?
Re: RBC Direct Investing (formerly Action Direct) experience
I think he means RBC's refusal to sell Mawer funds. Again, vote with your feet.Shine wrote:parvus wrote:I'm still PO'd at the restrictions on Mawer funds, but I'll find a workaround.
Are you referring to restrictions put by RBC or Mawer restrictions?
Given the discussion here and in the USD RRSP thread, it seems to me IF one has enough funds, split up your CAD and USD business to the brokers that make the most sense. For example, take your CAD RSP business to TDDI or BMOIL that will handle Mawer funds and take your USD RSP business to RBCDI or BMOIL. I have accounts with more than one discount broker for various different reasons.
finiki, the Canadian financial wiki The go-to place to bolster your financial freedom
- parvus
- Veteran Contributor
- Posts: 10014
- Joined: 20 Feb 2005 16:09
- Location: Waiting for the real estate meltdown on Rua Açores.
Re: RBC Direct Investing (formerly Action Direct) experience
RBCDI.Shine wrote:parvus wrote:I'm still PO'd at the restrictions on Mawer funds, but I'll find a workaround.
Are you referring to restrictions put by RBC or Mawer restrictions?
Wovon man nicht sprechen kann, darüber muß man schweigen — a wit
finiki, the Canadian financial wiki Your go-to guide for financial basics
finiki, the Canadian financial wiki Your go-to guide for financial basics
-
- Contributor
- Posts: 616
- Joined: 04 Dec 2010 20:39
Re: RBC Direct Investing (formerly Action Direct) experience
For those of you with a RBCDI RRSP account, what do you do with your cash balance?
- parvus
- Veteran Contributor
- Posts: 10014
- Joined: 20 Feb 2005 16:09
- Location: Waiting for the real estate meltdown on Rua Açores.
Re: RBC Direct Investing (formerly Action Direct) experience
For the most part I have drips. Otherwise I wait for an opportunity (which might involve a sale -- which reminds me ) to redeploy cash. About 10% of my RRSP portfolio is in cash, and I believe there is was some nominal interest paid on sums over $10,000.
Post edited to correct oops!
Post edited to correct oops!
Wovon man nicht sprechen kann, darüber muß man schweigen — a wit
finiki, the Canadian financial wiki Your go-to guide for financial basics
finiki, the Canadian financial wiki Your go-to guide for financial basics
Re: RBC Direct Investing (formerly Action Direct) experience
RBF2010 1.25%Benchwarmer wrote:For those of you with a RBCDI RRSP account, what do you do with your cash balance?
http://www.rbcroyalbank.com/products/isa/
Re: RBC Direct Investing (formerly Action Direct) experience
finiki, the Canadian financial wiki
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
-
- Contributor
- Posts: 616
- Joined: 04 Dec 2010 20:39
Re: RBC Direct Investing (formerly Action Direct) experience
Thanks Adrian, Denis.
Re: RBC Direct Investing (formerly Action Direct) experience
Ditto here. The 'house' based ISA, in most instances, is the right solution. RBF2010 in RBC DI has such small minimums, both initial ($500) and ongoing ($25), it is a no brainer.DenisD wrote:RBF2010 1.25%Benchwarmer wrote:For those of you with a RBCDI RRSP account, what do you do with your cash balance?
http://www.rbcroyalbank.com/products/isa/
finiki, the Canadian financial wiki The go-to place to bolster your financial freedom
Re: RBC Direct Investing (formerly Action Direct) experience
Have now added a list of supported drips to their website. Very helpful as you now don't need to phone and ask if a particular stock is drip-able. Thank you RBC Direct Investing.
- Shakespeare
- Veteran Contributor
- Posts: 23396
- Joined: 15 Feb 2005 23:25
- Location: Calgary, AB
Re: RBC Direct Investing (formerly Action Direct) experience
You can now make RRSP withdrawals under "Forms" without having to phone in.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Re: RBC Direct Investing (formerly Action Direct) experience
How about being able to EFT to a non-Royal institution? If not, I hope they get there in 6 years when I would like to have it.Shakespeare wrote:You can now make RRSP withdrawals under "Forms" without having to phone in.
finiki, the Canadian financial wiki The go-to place to bolster your financial freedom