Toronto-based Royal Bank of Canada (RBC) is the latest of the Big Six banks to make changes to its wealth-management division, altering its logo and revamping its website as part of a broader effort to engage with clients in a more seamless, integrated way.
The most prominent change is that the bank is ditching its gold RBC Wealth Management logo and replacing it with the familiar blue and yellow shield common to its other lines of RBC’s business.
“[We wanted] to unify our approach and show clients that we’re operating as one RBC,” says Rebecca Mooney, vice president and head of brand and marketing with RBC Wealth Management.
RBC has also redesigned its wealth-management division’s website, featuring new “client-centric content and navigation,” to allow customers to have more direct connection with financial advisors, relationship managers and experts, the bank said.
“We really turned the whole website around the clients’ needs,” says Mooney, who added that the new website is fully responsive to mobile devices.
New to the website is a number of paths for clients to reach out to RBC to be matched with advisors, providing prospective clients with a set of options based on their expressed needs.
“We’re looking at it from a lens of how can we make this as easy [for clients] to find out more information, get insights that they’re looking for on certain topics, and then start a conversation in terms of how can we help them with their broader holistic needs,” Mooney says.
Several of Canada’s Big Six banks have also recently restructured and rebranded their wealth-management platforms with a focus on breaking down traditional business unit “silos” and engaging with their clients in a more direct way.
Earlier this month, Toronto-based Bank of Nova Scotia announced that it would place its financial planning, investment management, private banking, trust and estate, insurance and business succession planning services under the umbrella of its new Scotia Wealth Management brand. Scotia McLeod Inc. brokerage branches would be rebranded with the new global brand, for example.
See: Scotiabank rebrands and restructures wealth platform
In April, Toronto-based Bank of Montreal announced that its retail brokerage, discount brokerage and private banking platforms would fall under the umbrella brand of BMO Wealth Management, replacing the previous BMO Private Client Group branding.
See: BMO launches new wealth management brand
“Our clients who have wealth needs also have other needs and that they’re looking at us as one organization,” says Mooney of the changes at RBC. “So, having a consistent experience across all of the investment solutions or banking solutions that we offer — having that as seamless experience as possible — is only going to make it easier for the client.”
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