The RBC InvestEase platform is one of the most reliable robo advisors in Canada, provided by one of Canada’s biggest banks. Upon funding your account, the RBC InvestEase algorithm (and experts) maintain your investments for you. This makes the entire process simple, especially for new investors.
It’s not cheap to use, but RBC InvestEase does provide a low barrier of entry with just a $100 minimum balance. If you have other RBC accounts, take advantage of NOMI Insights’s invaluable tips to help fund your investments.
RBC InvestEase features
This table provides an overview of RBC InvestEase's features:
Why You Want It
Get a professional investment portfolio + Low $100 minimum investment.
Special Features
- Low minimum balance requirement
Eligibility
- Resident of Canada
- Age of majority
- A SIN starting with a number from 1 to 7
Provinces
ALL
Features
Types Of Accounts
- Non-registered
- TFSA
- RRSP
- FHSA
Minimum Investment
$100
Minimum Balance For Minimum Fee
N/A
Minimum Deposit To Cover Transfer Fee
$15,000
Socially Responsible Investing Options
Email Support
Live Chat Support
Phone Support
Average MER
0.17%
Minimum Fees
N/A
Maximum Fees
0.5%
Cover Transfer Fees?
Maximum Covered Transfer Fee
$200
Promotion
N/A
Promotion End Date
N/A
RBC InvestEase product rating: 5.0 stars
RBC InvestEase offers the convenience and technological benefits of a robo advisor alongside the reliability of a well-established bank that fetches you decent rates. You'll get a low barrier to entry, the ability to waive transfer fees, and the comfort of a capable team behind your money.
But RBC InvestEase isn't perfect – other robo advisors can take care of your money for half the price (like Questwealth). RBC doesn’t offer quite as much choice compared to other options regarding account types, but removing some of the confusion may actually be helpful. Sometimes too much choice is just that: too much.
Rating methodology
To evaluate robo advisors, we analyze over 20 data points to generate a trustworthy Genius Rating. We consider all aspects of a robo advisor, including fees, investment options, minimum investment amount, access to support, perks, customer satisfaction, and promotions, to assess its overall value. Then, the robo advisor’s features are rated based on how they stack up against other available options.
Learn more about our rating methodology.
The pros of RBC InvestEase
Overall, RBC InvestEase is a reliable product with these excellent features:
Pros
Trusted industry name
RBC is one of the largest and most reputable Canadian financial institutions – you can rest assured your money is well cared for and protected. Even people who don't use RBC for their everyday banking needs can't deny that it's a solid institution with state-of-the-art security.
Big portion of transfer fee can be waived
As long as you move a minimum of $15,000 to your RBC InvestEase account, RBC will waive up to $200 of the transfer fees charged by the institution of origin. Other robo advisors may not waive as much or may require a larger balance to transfer if they offer this perk at all.
Low minimum to start investing
Where other investment platforms require a significant minimum deposit amount, RBC InvestEase only requires $100. If you start with between $100 and $1,499, they'll invest in a Small Balance portfolio and transition to a full portfolio once you reach the $1,500 mark. This opens investment possibilities for people who might otherwise not even bother since they don't have $1,500 to start with.
Responsible investing portfolios
RBC InvestEase offers portfolios that specifically target companies with positive social and environmental footprints (or green impacts). This means that any companies focused on renewable energy, social housing, etc., are favoured. Those involved with oil, gas, tobacco, civilian firearms, or other significantly controversial products are excluded.
NOMI Insights helps with goals
A valuable and convenient feature RBC InvestEase provides is the NOMI Insights tool. NOMI will assess your other RBC accounts and advise you when and where you have spare cash that can be invested. You're under no obligation to follow through with the investment suggestion, but it may help you reach those financial goals.
The cons of RBC InvestEase
Before taking the plunge, consider these thoughts about what RBC InvestEase could improve on:
Cons
The fees could be better
RBC InvestEase provides fantastic value, especially when compared to other options like mutual funds. But its fees are middling at best, with discount options like Questwealth giving even more perks for half the management fee.
Transferring to another institution incurs a hefty fee
If you're moving away from RBC, you're looking at a $150 transfer fee. Other robo advisors, like Questwealth, don't charge for this. But it's still worth noting that if you decide to move investments to RBC InvestEase, they'll cover up to $200 of the transfer fees.
No mobile app
We'd love to give you a review of the RBC InvestEase mobile app – if there was one. In our increasingly mobile-focused world, this seems like a huge oversight. Many other robo advisors have top-notch apps that have been around for several years.
RBC InvestEase alternatives
Of course, RBC InvestEase isn't the only investment platform out there. Take a look at how it compares with other options:
 |  |  | |
|---|---|---|---|
| Account | Questwealth | Moka | BMO SmartFolio |
| Genius Rating | |||
| Why You Want It | Get fees as low as 0.2% + $0 transfer-in fees with no minimum. | Auto invest in your future with expert-approved portfolios + Low monthly fee. | Have your money managed by financial experts + Low fees and transparent progress. |
| Types Of Accounts |
|
|
|
| Minimum Investment | $250 | $0 | $1,000 |
| Minimum Balance For Minimum Fee | $100,000 | $0 | $500,000 |
| Minimum Deposit To Cover Transfer Fee | $0 | $15,000 | N/A |
| Socially Responsible Investing Options | | | |
Show More | |||
| Open an account See more Questrade products Compare | Open an account See more Moka products Compare | Learn More See more BMO products Compare |
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FAQ
What is RBC InvestEase?
RBC InvestEase is a robo advisor from a top Canadian bank. Users receive suggested investment plans after answering several introductory questions, and then the smart technology and personal advisors take over to invest, suggest, and monitor on your behalf.
What are the differences between RBC InvestEase vs. Wealthsimple managed investing?
Brand value is the main concern when comparing RBC InvestEase and Wealthsimple managed investing, despite Wealthsimple managed investing being a bit cheaper. Wealthsimple managed investing isn't exactly brand new and has a solid reputation, but it doesn't compare to RBC's nationwide dominance.
What are RBC InvestEase fees?
RBC InvestEase's management fee is 0.5% of your balance, and the MER can range from 0.11% to 0.23%, depending on the type of portfolio you have. Your combined fee will be between 0.61% and 0.73%.
Which RBC InvestEase account types are available?
Unfortunately, RBC InvestEase doesn't provide many account types for users to work with. You can use a non-registered account or one of 3 registered account types: TFSA, FHSA, RRSP. Other robo advisors typically provide significantly more options.
Will I have access to any professional advice with RBC InvestEase?
Yes, RBC's Portfolio Advisors are available by phone or email to provide professional investment advice whenever you need it. However, robo advisors typically do the work for you, so you likely won't have to ask for professional advice.
Do I need investing knowledge to invest with RBC InvestEase?
The beauty of RBC InvestEase is that you don’t need any investment knowledge at all – the service picks, invests in, and monitors your investments for you, backed by one of Canada’s most trusted financial institutions.
Do I need to bank with RBC to invest with RBC InvestEase?
You do not need to bank with RBC in order to invest with RBC InvestEase. In fact, you can move money or investments from other institutions into your RBC InvestEase account easily – and possibly have some fees waived.
Can I open more than one RBC InvestEase account?
You can open multiple accounts with RBC InvestEase if you have multiple financial goals. As an example, if you are building an emergency fund, you could open a TFSA, or if you’re saving for retirement, open an RRSP.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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