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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Royal Bank of Canada    RY   CA7800871021

ROYAL BANK OF CANADA

(RY)
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Safely and conveniently connecting over 2 million Canadians to a stronger financial future: RBC's MyAdvisor provides real-time access to personalized plans and live advisors

11/19/2020 | 06:01am EST
  • Providing the best of both worlds since 2017 – digitized advice supported by live advisor expertise by video, phone or in-person
  • MyAdvisor connects clients from their homes and workspaces to financial advisors in their community, to help them achieve their financial goals

TORONTO, Nov. 19, 2020 /CNW/ - We all know we should have one and it should be simple to do – so why, when we're thinking about our finances, do the words "make a plan" create anxiety? Why don't we want to spend some time creating a plan to help secure our financial future? This may be because people often don't know where to start, or are afraid to get a clear view of where they are.

Amidst the uncertainty of the pandemic, however, it's more important than ever for Canadians to have a plan to enable their financial goals and the ability to access it remotely along with the financial advice they need to support it. Now, over two million Canadians are more closely connected to their finances and advice through MyAdvisor, a digitized advice platform that helps clients create a personalized plan online and see their future possibilities in one place.

Only available at RBC, MyAdvisor provides a complete view of a client's financial accounts – even those held at other banks – on interactive screens. Clients can view all their savings, investments and financial goals and make real-time adjustments by themselves or in collaboration with a financial advisor in their local community through live video, phone or in-branch.

"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 visualize what their financial future could look like and 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 – digitized advice with a very personal touch."

Launched in 2017, MyAdvisor continues to expand its capabilities, based on client and advisor feedback. This year, the platform added a new cash management feature called CashWise, which provides clients with a stronger line of sight into their cash flow. This capability is particularly critical at a time when many are dealing with potential reduction or loss of income as the pandemic continues.

"With all the changes in everyone's lives right now, we realize 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?" adds Walker. "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 advisors."

More information about how MyAdvisor is connecting Canadians to their finances and RBC's advice is available here.

About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 86,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

SOURCE RBC Royal Bank

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2021 45 560 M 35 815 M 35 815 M
Net income 2021 11 626 M 9 139 M 9 139 M
Net Debt 2021 - - -
P/E ratio 2021 12,5x
Yield 2021 4,01%
Capitalization 153 B 120 B 121 B
Capi. / Sales 2021 3,36x
Capi. / Sales 2022 3,22x
Nbr of Employees 83 842
Free-Float 88,3%
Chart ROYAL BANK OF CANADA
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Technical analysis trends ROYAL BANK OF CANADA
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TrendsBullishBullishNeutral
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 111,84 CAD
Last Close Price 107,80 CAD
Spread / Highest target 18,7%
Spread / Average Target 3,75%
Spread / Lowest Target -17,4%
EPS Revisions
Managers and Directors
NameTitle
David Ian McKay President, Chief Executive Officer & Director
Kathleen Patricia Taylor Chairman
Bruce Ross Group Head-Technology & Operations
Rod Bolger Chief Financial Officer
Foteini Agrafioti Chief Science Officer
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