The benefits, or pros, of Royal Bank Direct Investing are well known in Canada and the United States. This one-stop, full-service banking system allows you to tailor your investment portfolio to your own needs, and it also allows you to make changes quickly and autonomously (i.e. by yourself). You’ll have a central bank account, as well as a host of tools and financial services you can access in ‘real time”. The fees you pay to enjoy direct investment will be offset by the flexibility and ease of the system. This online brokerage system allows you to choose stocks, mutual funds, and GIC’s whenever you like.
However, no direct investment service is perfect for everyone. For some, dealing with a face-to-face financial advisor can be preferable. If you’re not knowledgeable about financial systems and investment types, you may not be comfortable making important decisions about investment on your own. This service can be less than cost-effective if you never want to use it. The type of person you are and the way you like to invest should indicate whether or not direct investing through Royal Bank would be right for you. If you want control over your own financial destiny, the pros will probably far outweigh the cons. If you prefer an old-fashioned approach, you may not enjoy the online elements of the service.
Finding about more about direct investment is the key to making the right decision. You can explore the various elements and find ways to test the feasibility of investing and banking online. You can also make appointments with bank representatives to discuss your personal financial plan and how it can be helped with direct investing.