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Email this10:44 am
October 27, 2013
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The selection of GIC issuers seems plenty strong enough at iTrade, Investorline and RBC Direct Investing.
I would think RBC Direct Investing would have exactly the same GIC offerings as RBC Dominion Securities. I am surprised DS would offer you a GIC account at no cost to you (free of account fees and dealer commissions/portfolio fees) but that is interesting if that is indeed the case. That essentially means the full service RBC DS business meeting/competing with its own sister company (RBC Direct investing).
11:00 am
May 11, 2023
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AltaRed said
The selection of GIC issuers seems plenty strong enough at iTrade, Investorline and RBC Direct Investing.I would think RBC Direct Investing would have exactly the same GIC offerings as RBC Dominion Securities. I am surprised DS would offer you a GIC account at no cost to you (free of account fees and dealer commissions/portfolio fees) but that is interesting if that is indeed the case. That essentially means the full service RBC DS business meeting/competing with its own sister company (RBC Direct investing).
I have to disagree, that the selection of GIC issuers seems plenty strong enough at iTrade, Investorline and RBC Direct Investing.
They don’t have the same or half similar GICs. Unfortunately the
RBC list does not show the minimum deposit.
I used to post itrade actual GIC offering here but I no longer have access. Perhaps some can post the three you suggested.
I like your persistence and the only thing I now wonder, is, does the agent give a lower % on GIC vs what I see online?
Wife and I are both in 70s and I am the financial one and use excel prolifically. And wife is kept up to date but I know she is just not into doing it online.
So if you had a choice to get relativity the same rates and do business over the phone or email and let some one do the input for you. What way would you go?
At some point decisions should be made in advance, so is same effort that both of us are comfortable with.
11:17 am
October 27, 2013
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I don't know how to cut and paste a table, so this is just what I took from RBC Direct Investing..... since your comparison is RBC Dominion Securities. The list below is for 5 year compound GIC
.......................................................................................................................
View GICs by
Search Results As of Aug 14, 2023 at 2:12 PM ET
Important Information
Minimum Purchase (CAD) for a 5 year term
Registered accounts: $3,500
Non-registered accounts: $3,500
Some issuers & some payment frequency may have higher minimums than the ones mentioned above. You should look into the 'View Order Status' page for an up-to-date status of your GIC order.
There are 33 results found.
Description
Maturity Date
Payment Frequency
Interest Rate (%)
Action
BANK OF NOVA SCOTIA Aug 14, 2028 Compound 4.70
BMO MORTGAGE CORP Aug 14, 2028 Compound 4.70
CANADIAN TIRE BANK Aug 14, 2028 Compound 5.03
BANK OF MONTREAL Aug 14, 2028 Compound 4.70
B2B BANK Aug 14, 2028 Compound 4.95
RBC MORTGAGE CORP Aug 14, 2028 Compound 4.70
ROYAL BANK OF CANADA Aug 14, 2028 Compound 4.70
ROYAL TRUST CORP Aug 14, 2028 Compound 4.70
ROYAL TRUST COMPANY Aug 14, 2028 Compound 4.70
GENERAL BANK OF CDA Aug 14, 2028 Compound 5.05
EQUITABLE BANK Aug 14, 2028 Compound 4.96
HOMEEQUITY BANK Aug 14, 2028 Compound 5.07
HSBC BANK CANADA Aug 14, 2028 Compound 4.70
CDN WESTERN TRUST Aug 14, 2028 Compound 5.01
CDN WESTERN BANK Aug 14, 2028 Compound 5.01
EFFORT TRUST Aug 14, 2028 Compound 3.70
FAIRSTONE BANK Aug 14, 2028 Compound 5.08
MANULIFE BANK CDA Aug 14, 2028 Compound 4.90
LBC TRUST Aug 14, 2028 Compound 4.95
MONTREAL TRUST CDA Aug 14, 2028 Compound 4.70
MANULIFE TRUST CO. Aug 14, 2028 Compound 4.90
ICICI BANK CANADA Aug 14, 2028 Compound 5.02
HOME TRUST COMPANY Aug 14, 2028 Compound 4.92
LAURENTIAN BANK Aug 14, 2028 Compound 4.95
KEB HANA BANK CANADA Aug 14, 2028 Compound 4.50
RFA BANK Aug 14, 2028 Compound 3.00
VERSABANK Aug 14, 2028 Compound 5.04
VANCITY CREDIT UNION Aug 14, 2028 Compound 3.95
SBI CANADA BANK Aug 14, 2028 Compound 4.25
NAT'L BANK OF CANADA Aug 14, 2028 Compound 4.60
NATCAN TRUST COMPANY Aug 14, 2028 Compound 4.60
PEOPLES TRUST Aug 14, 2028 Compound 4.00
PC BANK Aug 14, 2028 Compound 4.80
11:20 am
May 11, 2023
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Screen shot works and 2 or 3 shots work if they are posted in order.
11:27 am
May 11, 2023
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11:28 am
October 27, 2013
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As a theoretical point only, if I knew without question that a full service bank brokerage would match the GIC rate returns of its sister discount brokerage, without any additional account minimum and/or portfolio commissions/charges, then I would pick the full service brokerage as a backstop for a POA or a surviving spouse being able to manage the GIC ladder properly. This would provide human contact assistance for them.
Personally, I do not want to talk on the phone to anyone or to email anyone when I manage my investments at any time. I want to do it online on my own time at a time of my choosing.
Added: Without a thorough QC examination, a brief look suggests the list and rates look the same for RBC Direct Investing and RBC Dominion Securities
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