ROYAL BANK KEEPS IN STEP WITH COMPETITION
By Adnews Staff
Royal Bank Action Direct of Toronto is keeping in line with Scotiabank Discount Brokerage. Royal will begin offering a 2.75% bonus to investors buying back-end load mutual funds next week. The bonus will be paid on all investments in back-end load funds worth $1,000 or more, and will be invested in units of the fund the investor is purchasing. Advertising plans for the program have yet to be confirmed. Advertising for Royal Bank Action Direct is handled by MacLaren McCann of Toronto. Royal Bank Action Direct is the discount brokerage subsidiary of the Royal Bank Financial Group. Scotiabank Discount Brokerage launched a similar program earlier this week, offering a bonus of 2.5%.
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