RBC piloting new AI tools to help advisors save time, build business
RBC piloting new AI tools to help advisors save time, build business
Publish Date: 2026-07-03 01:30:00
Source Domain: www.theglobeandmail.com
- Wealth management firms, like Royal Bank of Canada, are increasingly adopting AI tools to enhance advisor efficiency and client engagement.
- RBC Wealth Management’s internal AI tool, RBC Assist, has already seen strong adoption with around 7,500 weekly users, aimed at improving consistent outcomes from client queries.
- The bank targets to generate between $700-million to $1-billion in enterprise value from AI by 2027, focusing on liberating advisors’ time to grow their client base.
- RBC is piloting three custom AI tools: a meeting prep tool, a portfolio recommendation tool, and a client prospecting tool designed to streamline advisors’ work processes.
- The meeting prep tool saves advisors significant time in client planning and preparation, reportedly saving 30 to 45 minutes per meeting.
- RBC aims to leverage AI-generated time efficiency to foster more client conversations, identify more client needs, and expand business development efforts, thus bolstering advisors’ books without reducing headcount.
