RBC Direct Investing (formerly Action Direct) experience

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Shakespeare
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by Shakespeare »

A penalizing interest rate on non-margin accounts is normal.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by zeno »

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.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by brucecohen »

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
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by northbeach »

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
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.
Last edited by northbeach on 27 Aug 2013 11:40, edited 1 time in total.
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Shakespeare
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by Shakespeare »

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.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by brucecohen »

Shakespeare wrote: For strips there is a search form below the GIC table.

Select "strips" in the search box for type.
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+

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.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by Shakespeare »

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.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by zinfit »

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.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by Peculiar_Investor »

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
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.
No more minimum balance requirement.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by max88 »

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
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by Benchwarmer »

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).
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by parvus »

I'm still PO'd at the restrictions on Mawer funds, but I'll find a workaround.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by Shakespeare »

BTG 772?

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.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by Shine »

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?
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by AltaRed »

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?
I think he means RBC's refusal to sell Mawer funds. Again, vote with your feet.

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.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by parvus »

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?
RBCDI.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by Benchwarmer »

For those of you with a RBCDI RRSP account, what do you do with your cash balance?
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by parvus »

For the most part I have drips. Otherwise I wait for an opportunity (which might involve a sale -- which reminds me :idea: ) 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! :oops:
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by DenisD »

Benchwarmer wrote:For those of you with a RBCDI RRSP account, what do you do with your cash balance?
RBF2010 1.25%
http://www.rbcroyalbank.com/products/isa/
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by adrian2 »

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Re: RBC Direct Investing (formerly Action Direct) experience

Post by Benchwarmer »

Thanks Adrian, Denis.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by AltaRed »

DenisD wrote:
Benchwarmer wrote:For those of you with a RBCDI RRSP account, what do you do with your cash balance?
RBF2010 1.25%
http://www.rbcroyalbank.com/products/isa/
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.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by barrister »

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.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by Shakespeare »

You can now make RRSP withdrawals under "Forms" without having to phone in.
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Re: RBC Direct Investing (formerly Action Direct) experience

Post by AltaRed »

Shakespeare wrote:You can now make RRSP withdrawals under "Forms" without having to phone in.
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.
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