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Wealth Professional | 03 Nov 2016, 08:15 AM Agree 0
Despite recent outrage over cross-selling, Royal Bank of Canada plans to continue building business using the tactic
  • 25 Years an Indepenedent Broker | 05 Nov 2016, 01:35 PM Agree 0
    In Canada, there is a big difference between cross-selling (which is legal) and tied-selling (which is illegal).

    Many of the banks in Canada, including RBC, have practiced tied-selling for years. Yet the regulators look the other way!

    God forbid that a lowly independent advisor / broker ever be caught doing this.
  • Cecile | 21 Jul 2018, 12:30 AM Agree 0
    Tied selling has been used at a north Vancouver RBC bank and there appears to be no consequences. A young man looking for a 50000.00 loan and consigned by his folks who had proven assets to cover was told that his folks would need to buy 70000.00 in GICs before the loan would be considered. This is just wrong. What recourse does this young man have and who should this be reported to? Banks are not working to help people but to gouge forbtheirvown benefit and growth. This needs to be stopped!
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